The Index is trading near the Support Zone, at higher levels a single candle pulls the market down with high volume which suggests that sellers are not willing to give up easily.

At the Support level we have seen the buying coming in the market but this upside move is not supported by the volume which suggests a weak uptrend. Going Short at  this point won't be appropriate, we will wait for a single candle to break below the support zone and sustain for 5 min,if it is able to sustain below the support level we would recommend to go short on the Index.

If the Rsi trades below 18 avoid going short.

Advice : Sell if above condition is fulfilled

DJ30

Dec 24 2021