BankNifty is reversing after giving an ABC correction... It could very well turn out to be a Wave W of larger correction but for now BankNifty is reversing and is giving a Buy Setup for a Target of around 18750 and 19100 with Stoploss just below the recent low around 17575.
Zeel is giving a Buying Opportunity above 445 when it breaks the down trendline completing the current leg of correction. I would trade it long with a stoploss around 424 and Targets around 500/510 levels. This could be a corrective price action or a new impulsive wave.. Evidence will be seen as to which form of wave is forming based on the price action and how...
Nifty has corrected around 50 to 61.8% Fib Levels for previous upmove. Once the Price Breaks out above 8110 Nifty gives a Buying Opportunity for the C wave up move towards 8400. I will be buying Nifty @ breakout above 8110 with stoploss below 7980 for Target of 8370/8400. If the price continues to go lower below 7920 and make new lows then the above analysis would...
ApolloTyre is giving a Buying Opportunity with a Short Term Target of around 204 levels. One can keep stoploss around 178 levels for the long positions. This move can possibly extend and go higher but I am giving short term targets keeping the current wave setup as a correction. Any inputs are welcome..
JetAirways is giving a potential Buy opportunity as it was forming and ending diagonal with divergence.. With bullish candlestick pattern supporting the analysis for long I would buy now for target of 400 and beyond..
Cadilahc has more downside to come before going higher. Wave A and Wave B are completed and Expecting Wave C/3 to go atleast around 270 Levels on the down side to complete the correction.
If that bullish harmonic pattern kicks upto its full potential Horse power, the Tatamotors will accelerate to 600's. A daily close above the trendline (red) will ensure that. I drew Elliott at the end of my analysis, so you may or may not use wave counts - there is no issues. We can analyse Tatamotors simply with support & trendlines.
Support zone at 500's is...
MRF is not giving any signs of reversal. One can continue holding this stock till we get the start of a corrective move.
Other tyre stocks like CEAT and Apollo Tyres as posted earlier (check the attached links) can be continued to be held (till any visible reversal signs).
Bharat Electronics has completed an A-B-C flat correction (refer to the link attached of previous post on BEL) and is headed for all time highs. If you missed the first long opportunity, then can enter again.