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BUZZ-India's NSE index breaks support at 10,062; may move towards 9,990- technicals
September 22, 2017 / 4:24 AM / in 3 months

BUZZ-India's NSE index breaks support at 10,062; may move towards 9,990- technicals

** India's NSE index breaks below a support at 10,062, the 23.6 pct retracement level of the short-term uptrend from the Aug. 11 low of 9,685.55 to Sept. 19 high of 10,178.95 tmsnrt.rs/2xVTofk

** Wave pattern suggests a short-term 5 wave cycle is complete and corrective cycle has started

** Index also cuts below a technical indicator - Parabolic SAR, which points to a possible downtrend

** A break below the 20-day exponential moving average may lead to a move towards the 38.2 pct retracement level at 9,990

** On the upside, index may find resistance at 10,062, the 23.6 pct retracement level and 10,107, the 14.6 pct level

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

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