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ACCUMULATE INDIAN EQUITIES FOR A MULTIFOLD RETURNS


S&P DOLLEX 30 INDEX....CMP (3220.50)
ACCUMULATE TILL 2800 RISK REWARD IN FAVOURS FOR MULTIFOLD RETURNS



AS PER WEEKLY CHART STRUCTURE INDEX IS TRADING IN TRAINGLE PATTERN AFTER TESTING ITS IMMEDIATE RESISTANCE LEVEL OF 3700.THE LONG TERM CHART FORMATION SHOWS MULTIPLE SUPPORTS NEAR ITS PREVIOUS BOTTOMS AND TOPS @3050/3000 LEVELS. AFTER HUGE SELL OFF IN MARKET INDEX HAS ALMOST RETRACED 61.8% FROM ITS RECENT TOP OF 3596 AND CURRENTLY TRADING AT 3165 LEVEL.
 

WEEKLY CHART STRUCTURE SHOWS THAT INDEX IS FORMING BULLISH PATTERN CALLED INVERTED HNS WITH NECKLINE AROUND 3500. BOTH LEFT AND RIGHT SHOULDER RANGE IS APPROXIMATELY 500 POINTS.ANY BREAKOUTS OR DECISIVE CLOSE ABOVE 3500, NEXT TARGET LEVELS OF INDEX COMES AT 4000 ON WEEKLY CHART.

ANY WEEKLY DECISIVE CLOSE ABOVE 4000 LEVEL WILL CONFIRM THE MONTHLY BULLISH CUP & HANDLE PATTERN UPMOVE WITH FRESH NEW TARGET PRICE 5800-6000.




 RSI:  THE WEEKLY RSI INDICATOR IS CURRENTLY AROUND AT 40 LEVELS, (GOOD BUYING LEVEL) SUGGESTING    POSITIVE   UPSIDE IN COMING PERIOD.



 

THE RETRACEMENT LEVEL OF (07/03/2016- 12/09/2016)

    0.23%   RETRACEMENT LEVEL COMES AT = 3378.90
    0.38%   RETRACEMENT LEVEL COMES AT =3244.93
    0.50%   RETRACEMENT LEVEL COMES AT =3136.64
    0.618%   RETRACEMENT LEVEL COMES AT =3028.36
    0.78%   RETRACEMENT LEVEL COMES AT =2874.19
    100%    RETRACEMENT LEVEL COMES AT =2677.81




 


MONTHLY STRUCTURE OF DOLLEX 30 INDEX


MONTHLY CHART PATTERN SHOWS THAT AFTER HUGE SELL OFF IN 2008, INDEX IS CONSTANTLY TRADING BETWEEN RANGE OF 2200-4000 (ALMOST 1800 POINTS) IN LAST 8 YEARS RESPECTIVELY. THIS MOVE WE CAN CONSIDER AS A RANGE BOUND MOVEMENT OF 1800 POINTS.



ON A BIGGER PICTURE INDEX HAS FORMED BULLISH PATTERN CALLED CUP & HANDLE (WITH MULTIPLE HANDLES) WITH BREAKOUT LEVEL AROUND 4000.ANY MONTHLY DECISIVE CLOSE OR BREAKOUT ABOVE 4000 LEVELS INDEX WILL ENTER IN VERY BULLISH TERRITORY WITH TARGET PRICE OF 5800-6000 WHICH COULD BE VERY FAST.

AFTER YEAR 2013 RANGE OF INDEX IS NARROWED BY 1000 POINTS FROM PREVIOUS 1800 POINTS.THIS NARROWING RANGE OF ACTION IS ALSO CONFIRMS BIG UPSIDE MOVEMENT IS DUE IN COMING PERIOD.


ANY YEARLY CLOSE ABOVE 3761.83 (2010 YEARLY CLOSE) INDEX WILL ENTER IN SUPER BULLISH TERRITORY ON YEARLY BASIS FOR MULTIFOLD RETURNS.





S&P DOLLEX 30 INDEX WEEKLY CHART



S&P DOLLEX 30 INDEX MONTHLY CHART















{30 DEC 2016}

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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