Selling Opportunity in the Index ahead. There is global tension going around in the market which has led the market to correct from a higher level. Sell on rise has been seen in the market which has led the price push towards the psupport. The Index is trading near the support. Index closing below this level can be an opportunity to sell the Index with a Sl 1% upside support.

The Index has just closed below the MAof the Bollinger Band, Index penetration below the MA of the BB would be an indication of selling.

If the Index is able to close below the Band and the RSI is below 30, it won't be appropriate to go short on the Index, instead waiting for going short would be the right decision.

There are two conformations which can be in the favour of sell, if the RSI does not support the move it's better to wait.

Advice : Sell if the Index closes below the MA of BB.

ASX 200

Feb 21 2022