As per the long term strategy suggested in the update "Bullish against 350"--PC Jewellers had a fall exactly very close to 350 & bounced so next update- "PC Jewellers played "Kaipidi" with 350- Bang on move" As suggested in long term update - it could head to 435-445 where it retraces 61.8%.
What Next- If sustains above 409-411 zone likely heads next to 422-425 zone & above 425- to final target zone 435-445.
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Update-1 Bullish against 350
Update-2 PC Jewellers Played Kaipidi with 350
Trade active
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11:25 Hrs 6th Jan2016
Last Price@413
It opened gap up at 416-417 --rushed to 424-425 as suggested & falls back to 410-413 zone --Isn't that amazing.
Next if moves above 425 & sustains the 435-445
Comments
sanjivt
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Good work Abhishek....PCJ is also getting fundamental support from the current Gold rally from oversold levels....in my view Gold rally has few more legs on the upside
WaveTalks
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@sanjivt, Yes -few days of consolidation & then gold zooms up -up & away....
WaveTalks
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@AbhishekHSinghCMT, But PC Jeweller- we should avoid any long positions unless it goes above 425 as per the update- had a fall exactly from 424-425 zones
sanjivt
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Agree@AbhishekHSinghCMT, I would rather play Gold longs....I'm carrying longs from 27000/- levels and looking to add upon any correction this week, if it happens. Seems like the best positional trade for the first half of 2017.