In fact, this is a down day during a bearish period closing towards the Top accompanied by high volume. A stopping volume normally indicates that Smart money is absorbing the supply which is an indication that they are Bullish in the market. Hence we can expect a reversal in the down trend.

Areas traders to watch will be the 23,329 points of August 2009 ending and October 2009 peak periods  were congestion zone for the Index, While the 23,588 level of the current 30DMA region will act as support level.

Put a close eye on the 14 Day RSI now 61.25, as it approaches the RSI 50 level. (Depending on which one comes first).