NOVEMBER - 2013.
TREND : UPTREND
LAG OF TREND : NOT KNOWN YET
WEEKLY ( 04/11/2013 TO 08/11/2013)
TREND : UPTREND
LAG OF TREND : CORRECTION SELL (Till Prices Trade below 6315)
November Month is just begun. In Current week, Since Month is Still trading in Restricted Range (RR) We have No Clear View on "Lag of Trend" of Month Charts, so no Weekly Trade is available.
Weekly, today opened with a Correction Sell in an Uptrend. Expect this correction to extend till level of 6170-6150. Further, In case this levels are not achieved and Prices manage to Trade above 6315, Consider that correction is completed and original uptrend begins in weekly time frame with minimum projected target of 6380 and more.
Intraday trader will look only for selling opportunities till prices are trading below 6315. Further selling nearer to target levels of 6170-6150 shall be avoided.
Regards,
Dipesh.