Strong Buying is expected in the index. The index given an inside pattern breakout at the lower levels. Recently the Index has opened Gap up and close near its day high suggesting strong buying pressure in the index. A day before the close the Buyer from lower level came into action and the day was volatile, which has led to a big bull candle.

We are expecting a 100 point movementem on the index in the coming days. A correction to any level would be a buying opportunity with a SL of 6594. The Index has closed above the ICHIMOKU CLOUD suggesting positiveness the lagging indicator is also showing strength.

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

FR40

Oct 17 2021