23.6,38.2,50 and 61.8% retracement levels of total fall from 17790 to 15652 are 16144/16469/16721 and 16973 . but i will like to observe 100 dma bcz when we were in down trend in 2008 we were not able to cross it decisively thru out correction. same way in 2009 when we were in uptrend we had not seen decisive violation of 100 dma till this correction in january. now we r trading below 100 dma since last 15 days or so . of course bounce is seen from strong support level of 15600, it is lacking in strength, volumes, momentum.... so at present till we cross 100 dma decisively i will consider this upmove as a pull back.100 dma at present is around 16800+.
What is the Sensex retracement level? around 16500 or 700? almost reached 16,500.
ReplyDeleteDow closed srongly... any trend reversal possible?
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23.6,38.2,50 and 61.8% retracement levels of total fall from 17790 to 15652 are 16144/16469/16721 and 16973 . but i will like to observe 100 dma bcz when we were in down trend in 2008 we were not able to cross it decisively thru out correction. same way in 2009 when we were in uptrend we had not seen decisive violation of 100 dma till this correction in january. now we r trading below 100 dma since last 15 days or so . of course bounce is seen from strong support level of 15600, it is lacking in strength, volumes, momentum.... so at present till we cross 100 dma decisively i will consider this upmove as a pull back.100 dma at present is around 16800+.
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