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relinfra target 668?

 
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Author relinfra target 668?
kanna
White Belt
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Joined: 03 Jan 2010
Posts: 91

Post: #1   PostPosted: Wed Dec 08, 2010 8:13 pm    Post subject: relinfra target 668? Reply with quote

relinfra in a weekly channel

broken and closed below the 100% fib.

if it brakes the channel then target may be 668

what do u feel



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sherbaaz
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Joined: 27 May 2009
Posts: 543

Post: #2   PostPosted: Thu Dec 09, 2010 11:08 am    Post subject: Re: relinfra target 668? Reply with quote

kanna wrote:
relinfra in a weekly channel

broken and closed below the 100% fib.

if it brakes the channel then target may be 668

what do u feel


Hi,

Weekly chart is too long period for a trader like me who think very short term.

On hourly chart there may be some pull back/retracement from the current level in it futures (don't know abt cash, as dont trade) if remain above 810 levels on hourly chart as on hourly chart since yday the move is in very tight range. there is a divergence on hourly which is bullish.
Also a descending triangle which is bearish. now which side it will go is a Q. if breaks below descending triangle then the depth would be the immediate down side tgt. if if it would be a false breakout then it may go up to 860. as first tgt and around 900 as second target.

Keep posting
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kanna
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Joined: 03 Jan 2010
Posts: 91

Post: #3   PostPosted: Thu Dec 09, 2010 3:51 pm    Post subject: Reply with quote

hi

the target for triangle break out 60 pts achieved already and it is a break in the weekly channel now. (Anyway we have to see tomorrow for the week close).

and anyhow, 668 is just 90 pts more. just two days like this. Laughing
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