The Index is trading in a Range between 17290-17690. The Index has formed an Island Pattern on the daily time frame at a lower level of range indicating a change in trend. The Island Pattern was formed at the lower band of BB indicating the low of candle as strong support ahead in the market.

Currently the Index is trading at the upper range and below the MA of the BB. Index closing above the MA and above range would be an opportunity to enter long in the Index.

We can expect the market to move 200 to 400 points after the breakout.

Advice : Buy if the Index close above the MA of BB

Buy above MA of BB

Sep 05 2022