December 12, 2017

MTECHTIPS

MTECHTIPS:Buy MCX Aluminium Nov above Rs 107.50; SL Rs 105.9

MCX Aluminum seems to have completed its wave 4 down which is an A-B-C zigzag pattern. It retraced almost 50% of wave 3 and it has reversed from the lower end of the downward sloping parallel channel. In commodities since wave 5 are mostly longer than wave 3; we think that aluminum has a good probability of achieving the 78.6% retracement level of the entire fall from 117.55 to 100.70 which comes to 114. The minimum target on the upside is above the swing high of wave 3 i.e. 111.2. On the lower side 105.90 will be the crucial level to watch out for i.e. the swing low of wave 4, hence one can place a stop loss below that.

WWW.MTECHTIPS.COM
07489294118/119

Mtech

Comments are closed.

NOTE : You are advised to take your position with your sense and judgment.The views and investment tips expressed by users on MCXStar.com are their own, and not that of the website or its management. MCXStar.com advises users to check with certified experts before taking any investment decisions. If any other company also giving same script and recommandation then we are not responsible for that. We have not any position in our given scripts. Visiting our web one should by agree to our terms and condition and disclaimer also. All credit goes to original authors of post on this website. Website owner is not responsible for any loss due to your own decision or judgement. Thanks for Visiting our Website.