CLOSED AT 5961.40 ON 25.4.2014
Range for the week was 6032.50 - 5899.20
SUPPORT :- 5788.85 / 5763.60
RESISTANCE:- 5977.95 / 6032.50 / 6115.45
The trend is up and index made a new high of 6032.50 on 22.4.2014.It has been moving up vertically for the 12th week in a row after making a bottom at 4858.10,therefore it looks highly vulnerable for a down correction and furthermore closing of index on 25.4.14 was weak and suggest that it may start down correction in the coming week,so avoid long call below 5946.45 and wait for the correction to complete and the take a long call using support and resistance level because the long term trend is up.Strong support is 5763.
REMARKS:-Trend is up but the closing on 25.4.14 suggest that technical down correction is in the offing,so avoid long call as of now and below 5846.45 for sure.
Range for the week was 6032.50 - 5899.20
SUPPORT :- 5788.85 / 5763.60
RESISTANCE:- 5977.95 / 6032.50 / 6115.45
The trend is up and index made a new high of 6032.50 on 22.4.2014.It has been moving up vertically for the 12th week in a row after making a bottom at 4858.10,therefore it looks highly vulnerable for a down correction and furthermore closing of index on 25.4.14 was weak and suggest that it may start down correction in the coming week,so avoid long call below 5946.45 and wait for the correction to complete and the take a long call using support and resistance level because the long term trend is up.Strong support is 5763.
REMARKS:-Trend is up but the closing on 25.4.14 suggest that technical down correction is in the offing,so avoid long call as of now and below 5846.45 for sure.
NOTE:-1.PRICE STATED HERE IS OF
SPOT MARKET.
2.RECOMMENDATIONS
ARE VALID TILL THE STOP LOSS IS TRIGGERED.
3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES
FOR MAXIMUM GAIN AND CAPITAL PROTECTION.
Contact me for strategic guidance to enter and
exit the trade
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