November 21, 2018 / 5:18 AM / 8 months ago

BUZZ-India's NSE Index breaks below support, may test 10,480 - technicals

** India’s NSE Index fall as much as 0.73 pct, breaks below a support at 10,592.66

** The support is identified as the 23.6 pct Fibonacci retracement level of the uptrend from Oct. 26 low to Nov. 19 high

** Breakdown of the 23.6 pct level suggests stock may now fall up to the next support at 10,480.32, the 38.2 pct retracement level

** Support is also expected at the 200-period exponential moving average on the 30-minute chart

** Stock’s wave pattern suggests it has completed a five-wave uptrend (wave (1)) and is in its three-wave corrective phase

** NSE index is up 1.19 pct this year as of last close, compared with the MSCI’s Asia Pacific ex Japan local currency index’s 11.2 pct fall in the same period

Reporting by Gaurav Dogra; Editing by Gopakumar Warrier

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below