Short UKOIL - Target 62.50-63 Confirmation - Long Upper Wick We are presently within a triangle. Crude to head lower. Target - 62.50-63
Nifty is moving down a step at a time. Expecting a correction to 11150/(11210 - though improbable not impossible) before the trend resumes. Targets for the downside are at current support expected at 10990-80.
Monthly running trend shows Cup w/ Handle formation in USDINR. Targets are 74.640 & 79.613.
As one can see in the chart, the formation of a Round Bottom is complete. Only need to wait for breakout.
Price has taken support at 1240 level and expected to bounce back before continuing correction. The right BUY price will also depend on OPEN.