If the Index is able to close above 7500 on an intraday basis in a 15min time frame or 5 min, the index can be bought for an intraday move of 50 point with a SL of 30 point. If the RSI closes above the horizontal line on a daily basis with index closing above the mentioned level we can expect the move to continue for another 100-150 point with the same SL.

The Index is showing a great opportunity to trade long with a limited risk and the return expected if closes above the mansion level is good. If the MACD trades above 30 we will get another confirmation on the long side.

The EMA is not confirming the upward move yet once the EMA also confirms the upward move we will get a strong confirmation on the buy side as we will be getting 3 confirmation.

Advice : Buy only above the mentioned level.

AUS200

Nov 05 2021