Short term target maintains 1425

11.24am Update
Stock pick: LINE a fundamental stock with Cup with Handle Bullish Chart Pattern.

It looks as some indicators are showing kind of overbought. However, not all of them are overbought and none of them is getting extreme. I expect there is still more room ahead for bulls.

Meanwhile EW fans may consider the rally from 1266.74 to 1391.74 as counter trend, characterized by overlapping and vulnerable to a massive fall, I suspected that the rise from 1329.24 may be a motive part of a 5-wave structure. I need to see the index wins 1422.38, holds and makes new high to confirm my assumption.

Today I will consider a pullback if any to the area 1412.00-1413.00 as buy. The next support area would be 1404.64-1407.20. The first target would be 1425.00 as mentioned. Short is not an action in my plan.

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