Looks like the market is poised to move sideways for the meantime after sliding down big time (as pointed out by the bearish rsi/price divergence) from the recent top at 4400 levels. However, the index seems to be moving higher this coming week as suggested by the strong closing last Friday with RSI seeking to break above 50.
Volume indicators reflect moderate flows of volume into the index indicates mild bullishness in the short to medium term.
Short to medium trend: Sideways to up.
Support: 4000 levels
Resistance: 4300 levels
Breaking and holding up above 4300 levels would suggest the resumption of the uptrend.
