After opening with a gap down, the index remained below the lower end of the trend channel but managed to close above it after last hour buying, and sustaining above 2 weeks' average successfully throughout the day.
A gap down opening would confirm a continuation of the recent downtrend. A breach of 20900 would take the index down to 20500 - 20000.
A gap up opening, with a strong support above 21500 should lead the index towards 22000. A positive crossover in Stochastics, while in an oversold zone, could boost the index to 22400.
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The index failed to grab the momentum to go higher.
DJI up by 470 points? Will things change due to this?
scalp3r240
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@kabhishek2602, Indian bourses follow global markets as a thumb rule, however not mandatorily. DJI and other European indices if remain higher, our markets should follow, given the heavy buying sentiment evident in the markets for the past few days.