- I have shown the Nasdaq composite indexes hourly chart above.
- See how it trades in channels and now it is trading near the bottom of the main channel.
- A Bounce from a range of 2185-2215 can be expected.
- One should keep 2185 as stop loss because a close below 2185 means a large correction will follow.
- But for now one should try to take a low risk high reward trade here with 2185 as stop loss on closing basis.