We had recommended to sell the index if it closes below the support, the index has taken support at the zone and again buying is seen in the index. Second day the index opened gapped up and the whole day buying was seen in the index and at day end selling was seen in the index which made the index close below EMA. Next day the index has opened flat selling has been seen in the index at lower level buyers has been interested to buy the index.

We would recommend buying the index only if it closes above the EMA and RSI supporting the move.

Advice : Buy if the Index closes above the EMA.

Buy if close above the EMA

Aug 31 2022