Sunday, February 17, 2013

LT : A long Term Bet

LT after giving a good run from the lows of 1100 in June 2012 to the highs of 1712, is correcting the whole up-move. As per FIBO retrace its near its 50% correction mark and 61.8% mark comes around 1340.

Yearly Values : VAH-1545, POC-1349, VAL-1153

Now coming to the Long term Profile Picture, the yearly POC of LT is around 1349, near to the 61.8% Fibo mark.

Short to Long Term Traders can go for a Long around current level and on DIPS around 1380-1400 level for a minimum target of 1545, and above that can see the highs of 1710, 1870, keeping a SL of 1340 on Closing basis.