The Index is forming a Double Bottom Pattern at a lower level in the Index. The pattern is yet not complete, we will wait for the pattern to complete.  Currently the Index is showing an upward move which can lead the price near its neckline, a risky trader can buy at current level for a tp near the neckline and once the neckline is broken an index is able to close above it buying can be done more.

The Index is trading above the 50MA which indicates positive direction.

Advice : Risky traders can buy at current levels risk averse traders can buy after the breakout.

AUS200

Mar 22 2022