The Index is trading near its support zone. If the index trades below the support zone we can expect the index to follow and correct till 6490-6450; If the Index takes a support at this level we can expect the index to trade near 6570-6590.

The index is trading just above the 50day EMA. A Golden crossover is seen on an intraday basis and we have seen an upside move after that as well, a cautious position should be make on the downside with a strict SL, If the Index closes below the 50day EMA we can expect it to trade near 200 EMA.

The RSI is following the price and is expected to do so.

Advice: Sell only if the index close below the Support Zone

CAC40

Oct 04 2021

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