Unless things change dramatically for the worst, I am of the opinion this is a mere corrective move to the nine day rally we have witnessed till last Friday. Wave A is 1073-1233, Wave B should retrace 38.2% to 50% of this rally bringing us down to support at 1175 and at very most 1155.
Once this level is reached, then we are on target to reach 1265 which will be high level target for Nov 2011.
No comments:
Post a Comment