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BUZZ-India's NSE index retreats from near 2-yr high, technicals suggest end of uptrend
March 2, 2017 / 9:47 AM / 9 months ago

BUZZ-India's NSE index retreats from near 2-yr high, technicals suggest end of uptrend

March 2 (Reuters) - ** Broader NSE Index falls as much as 0.41 pct to 8909.45 after hitting a near two-year high of 8992.5 early in the day

** Index faces resistance between Sept 7 high of 8,968.7 and psychological level of 9000 points

** MACD, which is falling since Feb.7, shows bearish divergence from the rising stock price, MACD has also cut below its signal line on Feb 28 tmsnrt.rs/2lvvNI5

** RSI has cut below the oversold zone of 70, seen negative for the index

** Trend intensity indicator (TI) has also started to fall from a high of 41, indicating that the uptrend is losing steam

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

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