Since Feb2011 lows of 73.40 - It has travelled in impulsive manner & completed choppy Intermediate wave-4 at 360 lows- which will be critical support for our next set of upside target initially 435-440 & cross of 440 -we shall come back.
Long Term Investment
We shall look for 570 where wave 1 equals wave 5 -which is the long term target & minimum expectation in 5-6 months.
Previous Update- Rocks from 435 to 395 WHat a slip
We trail our stoploss below 380 from 360 which was critical support as stated in the main update.
Against 360 lows - It made recent low@384 & bounced - Moving next above 407 it should head in the desired direction.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ