The Index was making a HH and the RSI was making LH, which was indicating weak strength in the up move. We have seen that in the index from higher levels, Doji was formed which indicated looseness in strength and later a big solid candle was formed which suggest the strength has weakness on the upside.

A small Pullback was seen in the Index from lower level and again sellers came into action to pull the market down.

At 0.382 fibonacci retracement  again buying came and the index is currently trading near 0.236 level if the Index is able to penetrate above the previous pullback high and sustain for 10 min we will advise to go long on the index for a 100 point move with a SL of 50 point.

The RSI should trade above 54 while the Index crosses its pullback high if not avoid buying.

Advice : Buy only if above conditions are fulfilled.

NASD100

KUNAL KAMBLE

Dec 31 2021