The Index was trading in an upper parallel channel. A breakout from the channel was seen on the downside but was not able to sustain at lower levels and a bounce was seen in the Index. Recently the Index has shown a negativeness in the middle of a pattern which can be considered a Shortfall. The Index has to close below previous low for a confirmation to sell the Index.

The Index is selling below the EMA which suggests a downtrend. The RSI is following the price and we expect to follow in the coming days.

Advice : Sell Index if it closes below yesterday low.

DJ30

Feb 04 2022