As on 7.4.2014 12,506=45
The trend is up but after making a top at 12,869.35 on 31.3.2014 it is in down correction. The support and resistance are given here under :-
SUPPORT :-12,486 / 12430 / 12,368 / 12249 / 12,117 / 11,989
RESISTANCE :-12,563 / 12633 / 12,743 / 12,807 / 12,869.35
REMARKS:- I feel that down correction is not yet completed although it has shed more than 350 points from the top,so long position could be avoided for now,however those who are aggressive trader who want to try long position can take a chance keeping in mind the aforesaid support and resistance level and with a strict stop-loss of 12,425. Please note that if the index slips below 12,425 and stays then it can go in for further deep down correction and may break 12,000 level in days to come.
NOTE:-1.PRICE STATED HERE IS OF SPOT MARKET.
The trend is up but after making a top at 12,869.35 on 31.3.2014 it is in down correction. The support and resistance are given here under :-
SUPPORT :-12,486 / 12430 / 12,368 / 12249 / 12,117 / 11,989
RESISTANCE :-12,563 / 12633 / 12,743 / 12,807 / 12,869.35
REMARKS:- I feel that down correction is not yet completed although it has shed more than 350 points from the top,so long position could be avoided for now,however those who are aggressive trader who want to try long position can take a chance keeping in mind the aforesaid support and resistance level and with a strict stop-loss of 12,425. Please note that if the index slips below 12,425 and stays then it can go in for further deep down correction and may break 12,000 level in days to come.
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.
4.TRADE CAUTIOUSLY
Contact
me for strategic guidance to
enter and exit the trade
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