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BUZZ-India's NSE index may test 10,266 – technicals
December 8, 2017 / 4:52 AM / 7 days ago

BUZZ-India's NSE index may test 10,266 – technicals

    ** India's NSE index breaks above a resistance at
10,221, the 50 pct Fibonacci retracement level of wave (3) from
Nov. 28 high of 10,409.55 to Dec. 6 low of 10,033.35 reut.rs/2AE8mau
    ** Index also breaks above the 200-period exponential moving
average on a 30 minutes chart, seen favourable for further gains
    ** The breakout suggests, index is poised to test a critical
resistance at 10,266, the 61.8 percent retracement level
    ** Wave pattern, however, suggests index is still in a
corrective cycle and downturn may resume from anywhere between
61.8 pct to 86.4 pct retracement levels  
    ** 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 figures of the previous day, index
trading above the pivot point indicates ongoing bullish
sentiment
    
 Pivot Resistance 3         10,303
 Pivot Resistance 2         10,258
 Pivot Resistance 1         10,212
 Pivot                      10,137
 Pivot Support 1            10,092
 Pivot Support 2            10,016
 Pivot Support 3             9,971
 
    
  

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