Wednesday, 27 February 2013

Are we heading for Huge fall ?? - Update 2

As per the chart above we have given breakout to the head and shoulder pattern marked in red for target of 5570. For lower target we need to first break 5720. If budget is not as per street expectation we can target 5570 from where I bounce is expected.

  We have another HUGE Head and Shoulder pattern in formation marked in BLUE, which will come into picture if budget is not as per street expectation.

If we get a bounce the first target will be 5840-5835 (neckline) above which it will target 5970             (61.8% retracement) .Above 6035 the whole setup will be in danger. 


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