Shown in oval shape was 1st leg of the triangle which topped out at 103.82 Published on 24th April 2016. Proposed triangle for wave-4 ( currently we are in final leg- expect rise holding above 89.20) & later "collapse" in wave-5 ( proposed ending diagonal)
With rise in dollar to 103-104, there will be major correction in the EM equities including India. We have so far done well because of rupee strength. With the near $600 billion forex reserves, we may save ourselves the blushes as they say but we will go down massively!
imkhushal
⋅
That means DXY will top out around 104-105 if it is in 4rth.