Expecting a Sideways market consolidating between 22700 and 22300, with Pivot @ 22500. Upside momentum to continue only above 22900. Whereas, if the index fails to sustain above 22400, it could see further correction, concluding this as a dead-cat-bounce/sell-on-rally opportunity.
Long above 22700 for 22900|23100 and 23300 (critical resistance level) ultimately.
Short below 22400 for 22300|22200|21900.
Better to keep out until levels mentioned on either side are taken out with volume based short-covering/sell-off.
Long above 22700 for 22900|23100 and 23300 (critical resistance level) ultimately.
Short below 22400 for 22300|22200|21900.
Better to keep out until levels mentioned on either side are taken out with volume based short-covering/sell-off.