The index respected its 1 wk avg., now pushed up to 30300, aided by voluminous buying in the last hour by FIIs as the index kept drifting lower throughout the day. Stochastics is in a perfect oversold zone giving plenty of room for upside, although a slow-paced upward movement would mean a lost opportunity for buyers. One can expect a resumption in the uptrend in the coming days, all depending on its behavior around 31000.
LONG, if the index sustains above 30600 for targets of 30800-31000. A decisive breach of 31000 could lead the index to 31800. In case of a gap down, one can also initiate a long if the index takes support around 30450.
SHORT, if the index trades below 30700 for targets of 30600-30450-30200. A breach of 30200 would confirm an oncoming, and much awaited, correction. In case of a gap-up, any weakness around 30800 or 31000 should be used as a shorting opportunity.
LONG, if the index sustains above 30600 for targets of 30800-31000. A decisive breach of 31000 could lead the index to 31800. In case of a gap down, one can also initiate a long if the index takes support around 30450.
SHORT, if the index trades below 30700 for targets of 30600-30450-30200. A breach of 30200 would confirm an oncoming, and much awaited, correction. In case of a gap-up, any weakness around 30800 or 31000 should be used as a shorting opportunity.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.