PRICE AND TURNOVER
Close: 2,692.81
Change: 8.17 0.30%
Value: 2,562,855,945
MARKET BREADTH
Net Advancing Issues: 19
Net Up Volume: 1,692,365,260
Net Foreign Buying: -179,607,158
TRENDS
* UNDEFINED PRIMARY TREND | Declining wave | Prior support 2289 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Broken trendline | Correctivel wave | Prior support 2289 | Prior resistance 2903
* SHORT TERM PROVISIONAL UPTREND | Directional wave| Prior support 2372 | Prior resistance 2507 broken
CHART WATCH
The short term uptrend has broken thru the intermediate down trendline. POSSIBLE: An intermediate trend reversal is in the offing and the minor uptrend is part of the first leg of the new secondary uptrend. If a higher low appears sometime in Aug or Sep and a break of the 2903 resistance level materializes in reasonable proximity, then that will indeed qualify for a provisional intermediate uptrend. LIKELY: Viewed in the context of a declining wave in the primary trend, the POSSIBLE intermediate trend reversal should be considered as the first corrective wave coming after the first leg of a new provisional downtrend with a possible Fibo retracement resistance level of up to 2900 and 3200 before going into the second directional wave.
Close: 2,692.81
Change: 8.17 0.30%
Value: 2,562,855,945
MARKET BREADTH
Net Advancing Issues: 19
Net Up Volume: 1,692,365,260
Net Foreign Buying: -179,607,158
TRENDS
* UNDEFINED PRIMARY TREND | Declining wave | Prior support 2289 | Prior resistance 3896
* INTERMEDIATE DOWNTREND | Broken trendline | Correctivel wave | Prior support 2289 | Prior resistance 2903
* SHORT TERM PROVISIONAL UPTREND | Directional wave| Prior support 2372 | Prior resistance 2507 broken
CHART WATCH
The short term uptrend has broken thru the intermediate down trendline. POSSIBLE: An intermediate trend reversal is in the offing and the minor uptrend is part of the first leg of the new secondary uptrend. If a higher low appears sometime in Aug or Sep and a break of the 2903 resistance level materializes in reasonable proximity, then that will indeed qualify for a provisional intermediate uptrend. LIKELY: Viewed in the context of a declining wave in the primary trend, the POSSIBLE intermediate trend reversal should be considered as the first corrective wave coming after the first leg of a new provisional downtrend with a possible Fibo retracement resistance level of up to 2900 and 3200 before going into the second directional wave.
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