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Jan 16

TECHNICAL ANALYSIS BY NSFX 16.01.2014

By:admin

High:  Low: 

Since the beginning of last year, the 100-day SMA has provided good support all the way up from 1450 to current levels with the 50-day SMA taking over recently as bullish price acceleration has increased. Weekly, the index is overbought according to RSI and Stochastics, which could lead to a potential reversal/consolidation. However, the bull trend should be respected and before 1750-area is tested, price action could most probably be on a buy-on-dips scenario.

R3
R2
R1
S1
S2
S3