WEEKLY View & Tech Analysis, PART II

By a staff reporter: 

PART II:-

Technical Part –

Upper side Band Hurdle ~17500 – very close of 21 DEMA & Mid point of the Band 16800-18200.

Lower side Band support 17180 – very close of crucial 100 DSMA & 5 DSMA juncture pt 17170.

On the upside :-

Phase 1. :- Immediate Resistances 17260/300 & 17333.

Phase 2. :- If crosses then only 17375 & 17444. Break out hurdle Weekly top 17500 <+/-10/20 pts>.

Phase 3. :- Break out above 17500—& then only 17565—17610. Major 17666.

Phase 4. :- Trend line Very major resistance as a swing basis 17777.

Cautious at every higher ends- Risky area for Bulls. Fresh shorting at/before resistances possible.

On the downside :-

Phase 1. :- Immediate Supports 17170-130.

Phase 2. :- If breaches then only 17055 & major 16933.

Phase 3. :- Weekly Low 16782.Downside if sustains below 16750 then fresh break down.

Phase 4. :- Then as a swing basis 16660—16600 & 16500/444, not even ruled out .

Source : Eureka

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