The Index has been correcting from the start of the month and at the end of the month we have seen buyers coming into action at lower levels. In this period the index has corrected almost 600 points.

The recent closing of the index has been higher than from the last 5 days which is suggesting strength in buying as per price action. The Insex closing above 4450 can be another confirmation to buy the index.

The RSI is supporting the price action. Rsi is trading in an oversold zone a mean reversion in price can be expected as per rsi strategies.

SP500

Jan 30 2022