Bank India- Push till 122-124 zone in B-Wave Triangle

١٤ أكتوبر ٢٠١٦

From 78.40 lows -seems that it is shaping into A-B-C correction. A-wave made a high@117.70-since then it moving into a sideways pattern-likely tracing out B-wave, Triangle - In B-wave triangle-looks to move in d-leg internally which can push prices to 122-124 zone where it will face resistance.

Trendline should support this push which is connected between 101.30-108-109.45 - Laxman Rekha - Bank India should not go below 109.45 -key level, then the price can push up till 122-124 zone & form d-leg of the triangle.

Regards,
Abhishek H. Singh, CMT