The Index is trading in a range from 5 days, the range is very small which is suggesting that the buyers and sellers are waiting for a trigger move to happen, the retailer will try to play the range bound move and react quickly on the minor breakout which can lead to a failure as well. It's better to wait and watch till the time we get a proper confirmation through price action. The Index is consolidating near the window, so we will wait for the window to break. Then only we will go long, we had previously given a Buy call on index had advice to book profit as target was reached.

We will go short when the index closes below 25550 for 2 consecutive days, if the Index is not able to close below the mentioned level we will ignore it.

HK50

Oct 26 2021