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BUZZ-India's NSE index breaks resistance at 9,875, may test 9,933 – technicals
October 4, 2017 / 5:01 AM / 2 months ago

BUZZ-India's NSE index breaks resistance at 9,875, may test 9,933 – technicals

    ** India's NSE index breaks above a resistance at
9,875, the 38.2 pct retracement level of wave A reut.rs/2yXiOGP
    ** Wave pattern suggests index is still in wave B of a
possible three-wave cycle, and wave B may move the index towards
the 50 pct retracement at 9,933 
    ** Index also breaks out of a descending trend line, which
was formed over the last week and which is seen favourable for
further upward movement in the short term
    ** Daily pivot, pivot support and resistance levels are
updated in the following table. 
    Note: pivot point, support, and resistance levels are based
on the high, low, and closing prices of the previous day, index
trading above the pivot point indicates ongoing bullish
sentiment
    
 Pivot Resistance 3          9,960
 Pivot Resistance 2          9,926
 Pivot Resistance 1          9,893
 Pivot                       9,862
 Pivot Support 1             9,829
 Pivot Support 2             9,798
 Pivot Support 3             9,764
 
        

    
 (RM: gaurav.dogra1.thomsonreuters.com@reuters.net)

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