Long-term view On Guar Seed
Looking at the weekly Charts of Guar seed , The main Bull Run started in Mid may of 2009 to finally top Out with last 5th wave Ending in month of November, After Which it clearly did a 3 waves of correction a-b-c , with the final C wave ending first Week of march , For onther set of bull run with first wave ended at end of April month 2010 and than Second wave near Completion (Start of June 2010 ** expecting same) if the Prices hold 2250--2300 levels and Bounce from here
This is purely wave count and if same happens that means i am Moving in Right count and than the Third wave which will target an upside of 2650--2700 lvls and would take 9-12 weeks to Reach there
(The Above Complete view is marked with Red on charts) & wave counts with Black 1-5 & abc
There is a Strong weekly trend line support Line also in Zone of 2250--2300 supporting the above view that wave two may take Support in same Zone
A weekly Close below 2250 Would Negate the Above view and i need to Re take all the counts and start all over fresh again
Possibility B) Marked with PINK hard Lines.
The First Wave of Long term Bull cycle Started in Mid may of 2009 And ended in November and than second Pull back Wave is going on which may take Support near 2000 levels and Third wave of upside which will be Slowest and biggest wave ...may start unfolding on upside clearly giving wave Extension targets of 3800-4200 Levels (First wave of 1500 Points) Third wave From 1900-2000 levels till 1900+ 1500 (100 % projection+61.8% extension) so Comes to 3800--4200 levels
if Guar mange’s to close below 2000 levels for more than 2-3 Weeks Than the above view May get negated ,
Reco :
In short 50 % accumulation Can be done at 2250--2300 levels & rest On downside near 2050--2100 levels With SL below 1900 levels For upside target of 3800--4200 levels
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