Trend in NASDAQ is up but at present in a down correction mode. It has made a recent top at 4371.71 on 6th March '14 and thereafter going down making lower tops and bottoms. Strong support for index exists at 4048 | 3968 | 3990 | 3855 | 3650. Since it is falling for quite sometime and is near strong support area, so it may give a pull back rally. Going up it may face resistance at 4132 | 4220. But if it breaks 4048 and stays below that for 2-3 days, then it is expected to go in for deep down correction.
Remarks: Some technical parameters suggest that NASDAQ composite is heading for reasonable to big fall in days to come and may go down to 3791/3650 level.
Remarks: Some technical parameters suggest that NASDAQ composite is heading for reasonable to big fall in days to come and may go down to 3791/3650 level.
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