Current market scenario seems to be playing a similar script it did in 2016 within the period of April to June
- 2016 and 2017 …Good support levels within the 24,547 levels
- Hitting 29,000 points in both years before rebounding within 38.2% Fibonacci levels
- 2016 levels pivot point hit 100% Fib levels of 31,073.30 points While the 2017 levels intraday high (TRW ETRADER SCREEN CHART) is 30,990 points
- Caution within these current resistant levels. BREAK-OUT or FAKE-OUT!!!!
BREAKOUT on huge volume above the 31,073.30 on huge volume (beginning of a New trend) FAKE-OUT!! … below these levels signals the beginning of Lower highs and Lows trend of the Old market adage of “SELL IN MAY and GO AWAY” which actually happens in JUNE…
- NSEASI intraday high is 30,990.40