Dow made a high of 16,588.25 on 31.12.2013 and thereafter it made 3 attempt to to cross the said high on 2nd,3rd & 4th April 2014 ,it was successful in creating a new high on 3rd & 4th April but could not close above the aforesaid level. Although technically the trend is up but some parameters are showing sign of fatigue.It may go in for good downward correction.Going down it will find support at 16,191.77/ 16046.99/ 16006.59/ 15865/ 15703.79
REMARKS:- Only go long in Dow if it closes above 16,588.25 and stays above this for 3-4days.Down correction looks imminent so one can try going short with an adequate stop-loss.
REMARKS:- Only go long in Dow if it closes above 16,588.25 and stays above this for 3-4days.Down correction looks imminent so one can try going short with an adequate stop-loss.
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