Tuesday, September 14, 2010
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Anindya,
ReplyDeleteI agree with your view here... But in my opinion, the 'LoC' shall be 45.59 rather than 45.90 (giving more flexibility). This 'triangular' formation can normally be seen in the wave 4 or wave B position; both suggesting that the bullishness in the pair shall be a last push higher, before we see weakness in $ against Re.
Looking at the bullish sentiment across for the Indian Markets, my feel is that this 'last' push higher could turn out to be wave C higher - which also means that the all time high for the pair of 52.18 shall not be breached...
Cheers,
Aurum