RSI could not sustain above 48, RSI below 50 indicates weak momentum today was the sixth consecutive closing with RSI below 50.
On two hours and hourly charts, RSI closed below 45 at closing, indicating further weakness.
EMA on RSI turned bearish even on shorter term charts.
Bias is on short side, keep looking at short period charts for confirmation.
As long as daily RSI is below 50 OCB, long side trade can be avoided.
ADX n DMI combo indicating more weakness.
RSI and ADX indicating more weakness.
Most indicators signalling further weakness, keep an eye on shorter period charts / indicators for confirmations.
35090-35180- 35270-35360 can be the resistance levels,
While 34670-34550-34410 should provide support.
Sustaining above 34400 is very important, in case it is given 33900-34000 area can be seen.
Quant Indicators are also showing weakness.
34700 - 34400 put spread can be considered, with a stop loss of 35100 on index.
On two hours and hourly charts, RSI closed below 45 at closing, indicating further weakness.
EMA on RSI turned bearish even on shorter term charts.
Bias is on short side, keep looking at short period charts for confirmation.
As long as daily RSI is below 50 OCB, long side trade can be avoided.
ADX n DMI combo indicating more weakness.
RSI and ADX indicating more weakness.
Most indicators signalling further weakness, keep an eye on shorter period charts / indicators for confirmations.
35090-35180- 35270-35360 can be the resistance levels,
While 34670-34550-34410 should provide support.
Sustaining above 34400 is very important, in case it is given 33900-34000 area can be seen.
Quant Indicators are also showing weakness.
34700 - 34400 put spread can be considered, with a stop loss of 35100 on index.