NSE index failed to sustain after breaking above 9,933, the 50 pct retracement level of wave A.
Tests psychological level of 9,900 after breaking support at 200-period exponential moving average (EMA) on the 30 minutes chart.
Wave pattern suggests wave B of a possible three-wave cycle may have completed.
A break down of psychological level of 9,900 may lead to a fall towards next support at 9,875, the 38.2 pct retracement level of wave A.
Daily pivot, pivot support and resistance levels are updated in the following table.
Note: pivot point, support, and resistance levels are based on the high, low, and closing prices of the previous day, index trading above the pivot point indicates ongoing bullish sentiment.
