View: Sell at current market price or on the rise
This suggests that prices are more likely to decline than rise in the short term. Traders are advised to adopt a selling strategy, taking advantage of any upward price movements to sell their positions. The recommended targets for this selling strategy are around 23,375 – 23,000.
The Relative Strength Index (RSI), currently at 51, indicates a slight decline in momentum. At the same time, the Moving Average Convergence Divergence (MACD) histogram has recently crossed below the zero line, suggesting a potential shift toward bearish momentum. Therefore, the sell-on-rise strategy remains the preferred approach for traders, with the mentioned target levels serving as potential profit-taking points.
View: Sell at current market price or on the rise
This suggests that prices are more likely to decline than rise in the short term. The expected target or support level on the charts is around 5,620.
Based on this analysis, the recommended trading strategy for traders would be to sell the index and its constituents either at the current market price or on any upward price movement. The target for this selling strategy is set at 5,620 and 5,605, reflecting the anticipated support levels on the charts.