As is evident from the chart, the index made two failed attempts at breaking the upper end of the trend channel and today’s fall suggests (on Daily chart) that there will be more pain ahead in the near term. Expecting the market to be in sell-on-rise mode for a few days.
LONG, if the index takes support @ 23000 for targets of 23200-23500. Ideally one should go long if there is an opportunity around 22800.
SHORT, if the index breaches 23000 for targets of 22750-22400. Ideally one should find an opportunity to short at 23200 or 23500, wherever weakness is evident.
LONG, if the index takes support @ 23000 for targets of 23200-23500. Ideally one should go long if there is an opportunity around 22800.
SHORT, if the index breaches 23000 for targets of 22750-22400. Ideally one should find an opportunity to short at 23200 or 23500, wherever weakness is evident.