Rajasree, don't count on 5065 to be hit, or your fans might blow you away (Sorry, couldn't help that.).
In the next few days we will get a correction within the correction of the big trend. After that, another new low will be established within the correction, but not THAT low.
It's time to head north once the consolidative process is finished.
In the next few days we will get a correction within the correction of the big trend. After that, another new low will be established within the correction, but not THAT low.
It's time to head north once the consolidative process is finished.
Is the market moving as per "FAN LINE" rules ?
Red lines I have marked as fan lines. I am not sure abt that. If it is the probability we can see 5065-5071 on closing basis in near term . If the rule is violated " a correction of this type will go on to make another dip to a new low for the whole corrective move before prices really start to round up again"- (Technical Analysis of Stock Trends by R D Edwards,J Magee and W H C Bassetti.)
Seniors please comment abt my confusion.
Thanks.
http://postimage.org/image/c7b6f0jb5/
Red lines I have marked as fan lines. I am not sure abt that. If it is the probability we can see 5065-5071 on closing basis in near term . If the rule is violated " a correction of this type will go on to make another dip to a new low for the whole corrective move before prices really start to round up again"- (Technical Analysis of Stock Trends by R D Edwards,J Magee and W H C Bassetti.)
Seniors please comment abt my confusion.
Thanks.
http://postimage.org/image/c7b6f0jb5/