Refer to earlier charts showing target of rising wedge as 3930. After seeing the meltdown yesterday in US and European markets and today morning's meltdown in Asian markets and the SGX Nifty already at 4123, we could be mentally prepared of hitting this target of 3930. 38.2% retracement of rise from 2539 is 3870. Booking out of shorts today would be a wise idea.
Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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3 comments:
Hi, You have stated that we may see 3940 but asking to book the shorts today. Any particular reason for asking to book the shorts today?
yes . we have had a substantial fall and booking profits always keeps us in good frame of mind to decide the next move
THANKS FOR YOUR ANAYLISIS
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