We had a sell call on the index from the higher level. We are still expecting a downside in the index. The Index has been in a downtrend from the last five days. The best thing about a single candle is that it tells us what  the buyers and sellers are exactly doing in the market and what we can expect ahead. In the last two candles the sellers have been dull in the market i.e, the sellers are not able to push the price down as expected from them. The Body of the candle is justifying the view.

We will advise at this point to book the profit and wait for a proper confirmation in the future.

HK 50

Nov 23 2021