Selling Opportunity ahead in the Index, At higher level the Index has formed a Doji which suggest indecision, next day we have seen the index opening just above previous low but it was not able to close higher than previous day close. On an Intraday basis as well the Index was not able to cross previous high, which in all suggesting weakness in the Index. Selling at Current market price will be a great opportunity to enter the index short as per price action.

The RSI is showing divergence in the Index which in itself is a confirmation to go short if it is followed by candle and in our scenario candles are showing weakness.

In the Upward move the ADX was falling which in itself suggests that the direction has no strength.

FR40

Dec 31 2021