Anant Sir, can you plz explain why 1600?
If you see the chart of LT, you see that since Sep 2011, LT has not crossed 1600 and only now it went above but started falling again. Since beginning of October 2012 LT has come near 1600 whenever it has come down but has not fallen below that. So some support exists at around 1600. Also, 23.8% Fibo level is also near 1600. That is why I am concerned about 1600 for LT.
-Anant