Breaking down of 24 sessions trading range after RBI Credit Policy led forceful down moves below 5639 on 30-10-2012 and then 10 Hours trading with selling patterns between 5583-5624 in last 2 sessions. For break down confirmations Following lines were told on 30-10-2012
firstly break down validity confirmation is required through following 2 filters:-
1- 3 Days sustaining below Neckline and/or
2- Slipping 3% below Neckline.
Firstly intraday consolidations today and after that trading above Neckline(5634) but sustaining above 5634/5639 is must because that will be confirmation of false break down on 30-10-2012.
firstly break down validity confirmation is required through following 2 filters:-
1- 3 Days sustaining below Neckline and/or
2- Slipping 3% below Neckline.
Firstly intraday consolidations today and after that trading above Neckline(5634) but sustaining above 5634/5639 is must because that will be confirmation of false break down on 30-10-2012.