CLOSED AT :-13.960..05 ON 11.4.2014
The index made a recent high of 15,164.39 on 3.4.2014 and thereafter going down with gaps and in 6 trading days it went down by more than 1200 points,which shows gross weakness in it.The supports and resistances for the index are given here under:-
SUPPORT:-13,885.11 / 13748.94 / 13,595 / 13,188.14 / 12,415.85 / 11,805.78.
RESISTANCE:- 14,203.21 / 14,259 / 14,605 / 14,764 /
Since the index is falling with down gaps it may stage a pull back rally any time so follow the index movement with the aforesaid support and resistance level.The index will get further weak if it breaks 13,590.Kindly note that some technical parameters are giving weak signal and suggest that in may break the level of 13,388.86 .
REMARKS:- Index looking extremely weak ,can stage a pull back rally from the level of 13,907.45 or 13,392 if it stays below 13,392 for 3-4 days then it could come down to 12,400 level..Outlook for the Index is bearish.
The index made a recent high of 15,164.39 on 3.4.2014 and thereafter going down with gaps and in 6 trading days it went down by more than 1200 points,which shows gross weakness in it.The supports and resistances for the index are given here under:-
SUPPORT:-13,885.11 / 13748.94 / 13,595 / 13,188.14 / 12,415.85 / 11,805.78.
RESISTANCE:- 14,203.21 / 14,259 / 14,605 / 14,764 /
Since the index is falling with down gaps it may stage a pull back rally any time so follow the index movement with the aforesaid support and resistance level.The index will get further weak if it breaks 13,590.Kindly note that some technical parameters are giving weak signal and suggest that in may break the level of 13,388.86 .
REMARKS:- Index looking extremely weak ,can stage a pull back rally from the level of 13,907.45 or 13,392 if it stays below 13,392 for 3-4 days then it could come down to 12,400 level..Outlook for the Index is bearish.
