KSCL looks bullish in medium term to long term.

In weekly, price bounced from ascending channel support and moving towards the channel resistance.

sl - 525 tgt1 - 705, tgt2 - 740.

Kommentar:

channel support broken here,

is the wave (iv) correction triggered this?, here is the probable ew count,

so I considered the 2016 jan dip as the start of impulsive wave, so as per the ew guidelines price should not breach 480-470 region and it should start its up move above or around this region, if 470-480 level is getting broken , then we need to do the recount.

Kommentar:

price respected 470-480 level, and reversed from there, seems wave (iv) is complete and wave (v) has started here.

Kommentar:

price at major support level