CLOSED AT :-16361.46 ON 25.4.2014
Range for the week was 16565.71 - 16333.78
SUPPORT:-16191.79 / 16046.99 / 16015.32 / 16006.59 / 15703.79 / 15340.39.
RESISTANCE:-16505.70 / 16565.71 / 16588.25 / 16631.63.
Still in long term up trend but it closed near the lover range for the week on 25.4.2014 which exhibit weakness ,furthermore some other technical parameters are also showing sign of fatigue therefore this down move may last for few days.The strong support for the index exists at 16,000 level and kindly note that if it breaks this point and consistently stays below this then the on going up trend will be threatened.
REMARKS:- Although the trend is up but I am not very much enthusiastic about the strong up move from here until it crosses 16588.25 and stays above this for sometime till then broader range for the index would be 16000 - 16588.25.Take your call using support and resistance level.
NOTE:-1.PRICE STATED HERE IS OF SPOT MARKET.
Range for the week was 16565.71 - 16333.78
SUPPORT:-16191.79 / 16046.99 / 16015.32 / 16006.59 / 15703.79 / 15340.39.
RESISTANCE:-16505.70 / 16565.71 / 16588.25 / 16631.63.
Still in long term up trend but it closed near the lover range for the week on 25.4.2014 which exhibit weakness ,furthermore some other technical parameters are also showing sign of fatigue therefore this down move may last for few days.The strong support for the index exists at 16,000 level and kindly note that if it breaks this point and consistently stays below this then the on going up trend will be threatened.
REMARKS:- Although the trend is up but I am not very much enthusiastic about the strong up move from here until it crosses 16588.25 and stays above this for sometime till then broader range for the index would be 16000 - 16588.25.Take your call using support and resistance level.
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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Thank you for sharing your views.