Wednesday, 12 September 2012

BULLISH PATTERN BREAKOUT IN MCX LEAD DAILY CHART ANALYSIS

MCX Lead has broken out of a 6 month consolidation pattern and seems to be targeting higher prices at 121/126 in the coming weeks. Stop loss for the trade can be placed at 112.5. The current wave seems to be a third wave and can rally stronglyif there is support from FED on the policy front. CMP 116.75.


BULLISH PATTERN BREAKOUT IN MCX LEAD(INDIA)
Mohan Raghav
CEO, Financial Markets Algorithms
Web: www.financialmarketsalgorithms.com
blog: fmatechnicals.blogspot.com/
Twitter: camohanraghav
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours


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