Market is very close to jan 2010 tops at 17790/5310. on weekly closing basis higher closes are seen.
in weekly charts we have just tested trend line in rsi chart which has been giving resistance since june 2009.
in daily charts rsi has started showing -ve divergence. price action required for weakness confirmation.
on crossing 17790 different resistance levles will come in play between 18k to 18.5k
80% retracement of total fall from 21206 to 7697 comes at 18504.
next week we will be having financial yr ending , we may see nav based actions.
I had sent one chart as a query to elliot experts on 9/2/010.
market has moved in direction shown as per chart.
I REVISE STOP LOSS TO 17337 FOR ALL LONG POSITIONS.
