Time Cycle has been applied to the Index, as per time cycle near 23rd march the index should form a low, as seen previously the lows are left transacted which is usually seen in the falling market. In the current scenario the same can be expected in the Index, we will maintain a buffer of 2-3 days.

As well as the Index is trading near the level from where previously buying was seen in the Index which led the price reach all time high, consolidation at this level can be expected.

RSI is trading in oversold. A buying or consolidation in the Index can lead the price of RSI to rise to a certain point or dampen.

Buying the Index near the mentioned date would be suggested.

HK50

Mar 07 2022