Following most negative factors triggered sharp declines in Indian markets and almost confirmation of Intermediate term trend turning downward:-
1- All the Asian markets Red closing except SSEC.
2- All the European markets big gap down opening.
3- Dow's Futures more than 50 points down.
4- Sharp surge in crude rates and possibility of Petroleum rates hike by Indian Oil Companies.
5- As inflation will increase due to Petroleum rates hike therefore interest rates decreasing possibility turning lower in RBI Credit Policy.
Strong support of 5340 has been broken down and intermediate term trend turning down therefore Indian markets will retrace 20-Dec-2011 begun rally and its Fibonacci Retracement Levels(4531-5629) are as follows:-
13.0%- 5486
23.6%- 5369
27.0%- 5332
38.2%- 5209
50.0%- 5080
61.8%- 4950
70.7%- 4852
76.4%- 4790
78.6%- 4765
88.6%- 4656
Next crucial levels are as follows:-
55-Day DMA - 5160
200-Day DMA- 5177
200-Day SMA- 5172
As correction is on therefore All 7 following supports of 2012 Rally was updated on 25-02-2012:-
1- Strong support and base formation between 4532-4670
2- Minor support between 4590-4640
3- Strong support between 4680-4760
4- Support between 4810-4900
5- Minor support between 4992-5068
6- Support between 5120-5190
7- Strong support between 5340-5415
Next support range is 5120-5190 and between/little above this range following most crucial levels are placed:-
1- 38.2% Retracement Level- 5209
2- 55-Day DMA - 5160
3- 200-Day DMA- 5177
4- 200-Day SMA- 5172
1- All the Asian markets Red closing except SSEC.
2- All the European markets big gap down opening.
3- Dow's Futures more than 50 points down.
4- Sharp surge in crude rates and possibility of Petroleum rates hike by Indian Oil Companies.
5- As inflation will increase due to Petroleum rates hike therefore interest rates decreasing possibility turning lower in RBI Credit Policy.
Strong support of 5340 has been broken down and intermediate term trend turning down therefore Indian markets will retrace 20-Dec-2011 begun rally and its Fibonacci Retracement Levels(4531-5629) are as follows:-
13.0%- 5486
23.6%- 5369
27.0%- 5332
38.2%- 5209
50.0%- 5080
61.8%- 4950
70.7%- 4852
76.4%- 4790
78.6%- 4765
88.6%- 4656
Next crucial levels are as follows:-
55-Day DMA - 5160
200-Day DMA- 5177
200-Day SMA- 5172
As correction is on therefore All 7 following supports of 2012 Rally was updated on 25-02-2012:-
1- Strong support and base formation between 4532-4670
2- Minor support between 4590-4640
3- Strong support between 4680-4760
4- Support between 4810-4900
5- Minor support between 4992-5068
6- Support between 5120-5190
7- Strong support between 5340-5415
Next support range is 5120-5190 and between/little above this range following most crucial levels are placed:-
1- 38.2% Retracement Level- 5209
2- 55-Day DMA - 5160
3- 200-Day DMA- 5177
4- 200-Day SMA- 5172
Range of 5120-5190 will be watched for the survival of all the Up Trends