General discussion (MEI), page-1485

Well its difficult to say. I am no chartist but do follow it sometimes and understand it.

I usually try to follow trading patterns. And like everything else sometimes it works, other times not. Its only a probability, but I feel I get a better chance.

Based on the trading pattern, I don't expect it to fall much lower.

This is the pattern since February. As can be seen, the % drop from its new highs is steadily decreasing (I think I have got it right, but there could be small error in this figure - for me exact number is not important - its the pattern)






Unless it goes into another phase - and then does a big drop. It can happen - lot of people sitting on good profits. Or some news could change that.

Lets see where the back test for 27.5 takes it to.

I had two cycles before and most recently as I had mentioned last week I had sold at 24. Since then I bought yesterday at 24 and today at open and closing auctions at 24.5 and 26. So my average now is around 24.5 for this phase. The key for me 23.5 at this stage. If it does not look like holding, then I might think. Otherwise I will add more. All the best