Last close: 20,774.2
However, given the prevailing market conditions, we recommend a sell-on-rise strategy for traders who wish to trade in the remaining days of this week.
Traders should initiate short positions at the current market price or on a rise towards the level of 20,881, utilising this level as a strict stop loss to minimise potential losses. In the event of a downward correction, traders may consider buying at the support level of 20,400.
Last close: 7,197.95
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The best trading strategy for traders would be to sell on the rise, utilising a strict stop loss within the aforementioned range.
Our target range is expected to be around 7,125 – 7,075. Additionally, it is important to note that trade below 7,155 will likely bring quick selling pressure, and thus, all bulls should maintain a strict stop loss at this level.
This strategy involves selling the index at higher levels, utilising a strict stop loss within the resistance range of 7,225 – 7,255. Our target range for this trade is expected to be around 7,125 – 7,075.
It is important to note that trade below 7,155 will likely bring quick selling pressure. As such, all bulls should maintain a strict stop loss at this level.
Intraday No Trade Zone: 7,185 – 7,210