Last Update 16/10/2014...
"For 16/10/2014 we have positive bias above 1834.16 and resistance at 1849.97. The safe level for sustained recovery will be 1867.68. Weekly close above this level may auger well for next week if sustained above it for the week."
On 16/10/2014 we had positive bias above 1834.16 and low of the day was 1835.02 and close was 1862.76. So positive day for those who had taken position.
On 17/10/2014 we crossed the level safe level of 1867.68 given in update. We opened at 1864.91 and it was the low of the day. So profitable again for the day with the weekly closing at 1886.76 .
For Monday 20/10/2014 we have to stay above 1887 level shown in chart for a positive bias. Up to 06/11/2014 we have resistance at 1956.80 level. Crossing this level and staying above it will auger well for the index and mark the base for Christmas rally. Intermediate level to watch for stiff resistance will be 1920 odd for the index.
Happy Trading !!!
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