There is a selling opportunity in the Index and we are expecting the selling to be strong in the index. The selling pressure in the index has been seen from the resistance zone. This is a level from where previously the index corrected 1000 points. We are expecting this correction to last for 300-700 points. If the correction is more than 700 points we can expect the correction to be more than 1000 points. If the index closes below 12300 we can see an exhaustion gap in the index which will confirm that the uptrend is revered.

The Rsi is following the price and we expect the same to follow ahead.
The MACD is showing Divergence and its is trading near the upper threshold from where majorly we have seen the MACD falling near 0.

The Lagging Indicator is also suggesting a downtrend.

Advice : Sell @ CMP

SWISS 20

Nov 05 2021