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

The Index is trading within the Bollinger Band, Index penetration below 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 BB.

NASDAQ100

Feb 21 2022