Monthly Chart
Decisively closed below uptrendline and 2008 peak signalling continued bearishness possible.Good support at 9500 which is the 38.2% retracement level and has been a resistance and support level between October 2009 and July 2010 as can be seen on the chart.Solid support at 8300, the 50% retracement level and support from october 2009 to february 2010
Daily Chart
White candle but with a lower high and lower low . Low of 10373 maintained. Longs can be initiated with 10373 as stop loss.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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