The Index has taken a support near the support zone. We have seen this; first a shooting star was formed and then the move was on the upside; secondly a southern doji was formed which is a sign of reversal and we saw that in the index. The Index has seen a crossover and the index is trading below the EMA's.

A shortfall is seen in the index and we saw a fall again and as there were two of the strong candlestick patterns which acted as support at the support and during the closing we saw some buying in the index.

In RSI divergence is seen we will wait for the RSI to follow the price.

The DMI is showing a strong trend on the downside.

We will wait for the index to close below the support. Once the index closes below the support we will go short on the index as we have multiple support.

Advice : Sell if the close is below the support.

NAS100

Oct 09 2021

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