MARKET AT A CRITICAL STAGE

OBSRVATIONS;

 

2 CHARTS ARE ATTACHED.

 

POSITIVE:

 

HIGHER LOW HIGHER HIGH SEEN FIRST TIME AFTER CORRECTING FROM TOP IN DAILY CHARTS.

 

INVERSE HEAD N SHOULDER PATTERN WITH NECK LINE AROUND 16971/17000 ZONE

 

NEGATIVE:

 

STRONG RESISTANCE IN MONTHLY CHART

 

100 EMA TESTED TODAY . INABILITY TO CROSS SAME WILL START DOWN WARD MOVES AGAIN.

 

50% RETRACEMENT OF FALL FROM TOP OF 18048 TO 15960 CLEARED AT 17004 ,61.8% AT 17250.

 

TREND LINE IN DAILY CHARTS GIVE STRONG RESISTANCE AT 17400/5200 ZONE.

 

STRETEGY:

 

KEEP STRICT STOP LOSS OF 16544/4961 FOR ALL LONG POSITIONS.