On a Intraday time frame chart, the INDEX has given a breakout of Double Top Pattern. In addition, the price has been making with Higher Lows and Lower Lows formation. 

The daily RSI (14) has been trading below 30 marks & the DMI- is trading below DMI+ suggesting a negative trend.

Price is trading below the conversion line and base line indicating negative trend well as conversion line crossing base line on the downside indicates downtrend. Price is trading below the Clouds indicating negative trend.

Movementem Indicator MACD is showing negative move.

Double Top

May 23 2023