The Index has been correcting from last 1month the Index has corrected from 16280 levels to 14830 levels which is near by 10%. Previous 4 occasion the Index has take support at the same level i.e 14830 levels. Recently we have seen buying coming in the Index at the same levels; This is indicating that the buyers are interested at this rate to buy the Index for higher target.

Buyers has outperform the Sellers at the support, if in any case the support gets penetrated we can expect buyers to get out of the market.

The RSI is forming a Symmetric Pattern, a breakout from the pattern can be a confirmation to enter position in that direction. We are expecting buying to sustain at this level and take price higher. A Shortfall is seen in the RSI which is indicating a upward breakout.

Advice : Buy @ Cmp with SL below support level on closing basis.

GER30

Feb 15 2022