GEOJITFSL - EXCELLENT SETUP FOR LONG TERM INVESTORS
The pattern is based om Monthly TimeFrame so it is meant only for long term Investors
Made a high on Jan 08 of 131 and then went under a major contraction of 10 Years when it again made a high of 147 in Oct 17. That was the formation of first contraction.
Similarly it went for another contraction of 4 yrs & then eventually of 3 years.
It can give a big upside if it is able to break 147 and pass 150 levels
Another possibility is it can go for another contraction but what makes the present contraction more promising is the spurt in Volume which might take the price action cross the major barrier
So its a case of Wait and Watch
Made a high on Jan 08 of 131 and then went under a major contraction of 10 Years when it again made a high of 147 in Oct 17. That was the formation of first contraction.
Similarly it went for another contraction of 4 yrs & then eventually of 3 years.
It can give a big upside if it is able to break 147 and pass 150 levels
Another possibility is it can go for another contraction but what makes the present contraction more promising is the spurt in Volume which might take the price action cross the major barrier
So its a case of Wait and Watch
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