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BUZZ-India's NSE index may test 10,000 level – technicals
October 6, 2017 / 5:40 AM / 2 months ago

BUZZ-India's NSE index may test 10,000 level – technicals

    ** India's NSE index has broken above 9,933, the 50
pct retracement level of wave A, after a failed breakout on
Thursday reut.rs/2ytqvYp
    ** Index may move towards the next retracement level of 
61.8 pct at 9,991, just below the 10,000 psychological level
    ** Price moves in the past one week are seen contained in an
ascending trend channel; index likely to test 10,000 level
unless the channel is broken on the downside
    ** However, the 9,991-10,000 level can be critical as
retracement typically takes place from around the 61.8 pct level
  
    ** 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         10,010
 Pivot Resistance 2          9,970
 Pivot Resistance 1          9,929
 Pivot                       9,906
 Pivot Support 1             9,865
 Pivot Support 2             9,841
 Pivot Support 3             9,801
 
    
  

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