Bharat Forge seems to have traced an extended zigzag and is right at the bottom. It's likely that an upmove starts soon (without making a new low). This up move should take it to newer highs.
This stock seems to be on the verge of starting a sharp up move. It's possible it makes a close new low before going up.
The upper TL seems a good target. Following that, it could either break and continue up or could give a fall (for a Triangle possibility) and then up.
It's possible that Arvind 0.99% has completed it's A-B-C correction and is on it's way to join the major trend. The above could be a possible path ahead. A fall till the 61% Fib level could be a great place to buy for the move up.
INR GETTING STRONGER FOR WHILE AND IT LOOKS LIKE YEN CAN 0.52619 BEFORE GOING UP. CYPHER PATTERN COMPLETION IS A GOOD TIME TO BUY YEN. BUT CURRENTLY SHORT IT FOR A WEEK.
RISK REWARD: 1:1
China's central bank guided the yuan lower on Thursday FX_IDC:CNYUSD .
China's first shock devaluation in August jolted the global financial markets and Indian currency "INR" was also affected by this sudden move.
This second devaluation has come at such a crucial time, when money market was expecting strengthening in "INR" and start of appreciating trend.
Can...
1. Nifty Has been Making 1-0-0.618-1.414 pattern for last 7 months, Check chart.
2. Head And Shoulder Pattern in the Making.
3. Will Look For 8050, 8120 as Short Opportunity for 7300 as target..
Risky to buy LIC Housing Finance at this time. Fibonacci clusters of resistance are appearing at the tip of the price travel. We need to watch the levels of 506/508 carefully before buying this stock. If it fails at any of these levels, we can expect a C wave to 380 levels.
