Projected the possible movement for 11-17 Jun week. Banknifty Disclaimer: This is just my personal view. You are advised to rely on your own analysis while taking trading decisions.
Glenmark is looking to start Wave iii of 3 which is expected to be a big move. It can achieve 750+ levels. The view is invalid below 578. Note - This is not an investment advice. Please do your research.
Sell TCS with SL of 325 for target of 3050 , below 3000 it can slip to 2900 level.
Tata Power is in bullish mode. As per drawn Elliot Wave it should face strong resistance at 140. Suggest to book partial profit at 140. It will retest level 110 before further journey.
It looks like its about to start Wave 3 which should take it to 300+ and later to newer life time highs. One can accumulate it at CMP 170/- with very conservative SL of 110/- and it shall give good risk reward opportunity.
Nifty bounced from support range 15650-15557. So it seems wave (iv) is completed at 15567 and wave (v) is already started. Projection range for wave (v) is coming at 15908-16119.
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