With the leader of the pack giving near key breakout signal, I expect Indian markets to test an important TL at 5220 Spot. Break of which the next TL is at 5420 near about. If it happens to clear these hurdles, then Indian markets would be on a new trajectory.
The sad part however is India has just 20PC to go to previous high, whereas US has got near 40PC to reach there. Hence the upsurge can fail anytime. The only feather in the cap is that the US market has broken upwards of a declining TL and taken support of it on a test……. The first real test however will be the breach of the near high. If markets can do so with volumes and good news, the upside presently is seen as very worth the risk of entry………………… Presently the US markets are testing a LT TL, break of which, and expect the prior high to be tested.
Abe
Please use your discretion before acting on the ideas expressed in the group.
Happy Trading,
United we grow!!!
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