I had strongly recommended this stock for investments some time back. This stock is locked in 5% upper circuit post its QIP issue. That zone at 632 is the most crucial resistance. A monthly close above this will also be a breakout of the mid point of the double bottom.
After taking support from the previous swing lows .it broke the falling trendline and now the retest is telling me this stock is changing direction slowly. Investors can definitely look at this stock now.
This is an interesting ratio study of Gold/SPX . SPX is the US equity Index. The ratio moving up means it favours Gold over Equity. The ratio broke above the MA for the first time after 20 years in Dec 02 and hence was a significant breakout. It broke the trend line in Mar 2012 and was asking u to exit gold and buy Equity. Now in this 10 years Gold gave an...
Channel support, Fib support and a double bottom on the hourly charts are telling me this stock should resume its uptrend.
UBL - CMP 1738 the stock has been trading in a channel for years now. Fib study is indicating strength now. It has retested its breakout zone post hitting fib extension at .618. My first target is 2670 which is a cool 50% from CMP.
LTTS CMP 5419 FIbs- this stock is in a strong uptrend. A stock always takes a small dip post hitting its all time highs. This correction is a mere 38.2% from a higher swing. This is strength. Fib Ext and Trendline- the stock is likely to face major resistance around the 7300 zone. the trendline crossover point is in May 24 indicating that post breakout this stock...
Bajaj Fin - CMP 6514 In my view the correction is done in this counter. The Fib confluence at 6220 is being respected. Hence the correction seems to be done. Break of the trendline on the 4hr chart will be an early indication that the trend is now changing. So investors should use this dip as an opportunity to buy.
Persistent CMP 8432 Fib- again the dip to 38.2% from a higher zone is tremendous strength. Its first major resistance is at 11100 and then 13K both are confluence zones. On the 4hr chart all the three Ma's are about to merge. Hence its at am imp zone. A close above the trendline on the 4Hr chart will mean the stock is ready to shoot.
Tata Motors- CMP 968 Volume- the huge volume is an indication of euphoria post which we always witness a sharp correction. Elliott- the corrective pattern is zig zag. wave A and wave C have 1 and 1.618 relationship. The correction halted at 1.618. Composite & RSI- At this imp support we have +ve divergence from composite where as RSI has failed here....
BNF- CMP 46800 Elliott- In my view these are a series of ones and twos ...the third leg should start from here. We know they are a blast. Hence will advice not to miss this move. Fib- In my view this move will go all the way to 50600. One can add more above 47200.
Elliott- thats a zig zag corrective pattern on the 4hr chart. C leg is complete. Hence new five wave should begin from here. Fib- the extension is indicating the 495 and 475 as strong support. The counter reversed from 495. Fib confluence is at 500 and then 466. Hence any dip to 466 will be a welcome opportunity. Conclusion- zig zag is a bullish corrective...
A g8 example of support becoming resistance and vice- versa. The stock is now headed for 607.
Fib confluence at 1116/1118 is where this stock is now headed for. With two heavy weights extremely bullish I think Bank Nifty should make new highs.
this counter has been on my watch for some time. I mentioned the support zone and the counter has reversed from there. The first wave has confirmed our view. Now this dip is an opportunity to enter. This will be the third wave and is generally the strongest. The 3rd wave should start either from current levels or 6647 .
Fibs are telling me that the 1357 is a strong support. Trendline support at the same zone is positive. Hence the zig zag corrective pattern of Elliott is done. From here the 3rd wave which is the strongest should begin. I will suggest one to buy this stock for investments at CMP of 1414.
the current set up cant be a better example of support. Fib support, Trend line support, RSI & Composite- support above averages. MA support. R1 1056 R2 1080.
This is the 3rd wave of a new cycle . We know that the 3rd waves are the strongest. U can buy at CMP of 280 my T1 is 380 this is 36% from the current levels.
RSI- the Index broke the 40 levels again which is weakness. Elliott and Fibs- this is the C leg of correction. The 4th wave will either reverse from 21810 at 38.2% or 21847 which is 50% of the swing. We will wait for a bear candle at these levels for a tgt of 21400. An imp point this is a bullish corrective pattern.