Market should not go lower than 81.4067. After this move down it should go up to 85.1167 area.

Technical Forecast

  • Elliott Wave

    elongated flat resistance in downtrend 84.1260

  • Trend Warning

    Warning: Imminent end of bearish move

Key Points

  • Key Point82.80
  • Entry Point84.16
  • Trendline 185.96
  • Trendline 285.35
  • Elliott88.12
  • Closing83.07
  • Ex-Low82.87
  • Ex-High86.04
  • Projection81.66

Supports and Resistance levels

  • Support 181.95
  • Support 280.82
  • Resistance 185.12
  • Resistance 287.16
  • Pivot83.99

There is bearish potential for a fall to 82.9700 - 81.2533 while 84.6867 - 85.5950 resist. After this fall a recovery up to 85.5950 or 86.5033 is expected.

Technical Forecast

  • Elliott Wave

    crucial reversal point

  • Trend Warning

    Warning: Engulfing pattern

Key Points

  • Key Point80.65
  • Entry Point84.38
  • Trendline 185.74
  • Trendline 285.74
  • Elliott88.12
  • Closing83.07
  • Ex-Low82.87
  • Ex-High88.12
  • Projection78.18

Supports and Resistance levels

  • Support 181.25
  • Support 279.44
  • Resistance 186.50
  • Resistance 289.94
  • Pivot84.69

It looks more likely that it would rise to 86.5333 - 89.9967 from 82.9250 or 81.1933. After which a downside move is expected.

Technical Forecast

  • Elliott Wave

    crucial reversal point

Key Points

  • Key Point80.69
  • Entry Point84.41
  • Trendline 182.78
  • Trendline 287.38
  • Elliott88.12
  • Closing83.07
  • Ex-Low82.78
  • Ex-High88.12
  • Projection78.18

Supports and Resistance levels

  • Support 181.19
  • Support 279.32
  • Resistance 186.53
  • Resistance 290.00
  • Pivot84.66