DowJones Industrial trading 100 points down from its last closing due to a good crash in Disney ( DIS ) which is down more than 4% , Apple ( AAPL ) is also down more than 1% other heavy weights are also trading with red flag today . A good support in Dowjones at 17270 and sustain below this level then expect another fresh round of selling upto 17100 – 17000
A good resistance in dowjones at 17620 , Bulls need to click this major resistance and hold market above this level for a fresh buying upto 17750 – 17900 in dow 30
Dowjones trading levels conclusion : Market is off approx 600 points from its peak but its just 4% correction which is not at all complete , Market is approx triple from 2008 lowest point and in last year its double so valuations wise markets are very expensive even now if your view is short to medium term ( 1-3 years ) if you are an investor then there is no need to worry for 10-20% correction
For today market trend is looking down