DrPrashantVerma

DrPrashantVerma

The primary 7 wave cycle (4 yearlong) of GRSE is near its culmination. The key levels were as below. Wave Initiation: at 89.25, Wave I peaked at 222.65; Wave II retraced till 160.05; Wave III peaked at 957.50 Wave IV Retraced till 668.65; Extended Wave V Peaked at 2814.85 Sub-wave c of Wave V touched 1350.50 Sub-wave c is still unfolding and now Pennant...

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INDIAN HOTELS, CMP 791.80; Indian hotels has given good runup and created good wealth for investor. As of now on wave analysis of weekly chart suggest wave -V targets at 1015-1050 level. Upside potential of 25%a are visible on charts. Accumulate: 750-800 Resistance @ 900-920 STOP LOSS: 705 TARGET: 1015-1050 Time Horizon: 3 Months

DrPrashantVerma

TATA MOTORS: CMP: 706.65; RSI: 48.09 Recent correction has taken the script value to bottom of the parallel channel and taken support on weakly chart basis. Value buying can be seen at level. Accumulation zone: 650-700 Stop-Loss : 636 Target: 850-940-1030-1130 Time Frame: 3 months

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Tata motors CMP:786.45; RSI: 36.35; TATAMOTORS has completed 5 wave impulsive -Primary Bull cycle phase on weekly chart basis and now in corrective of ABC wave in formation . Corrective Wave-A has bottomed out and wave-B may give a swing trade opportunity for aggressive trader . This wave-B may take the Tata Motors shares at levels of 969-980 levels. In...

DrPrashantVerma

Zomato Ltd, CMP: 235.02 Chart Structure has signs of bottoming out at 203-205 levels and tested support twice. The present momentum will retrace before it expand to final target of 270-279 levels. Look for below key levels. First Resistance: 248-250 Entry levels (Retrace back levels): 217-211 Stop loss: 209 (closing basis) Target: 270-279 For More...

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CITY UNION BANK LTD; CMP: 170.22; RSI.47.67 City union bank chart analysis shown the completion of wave-4 retracement and now impulse wave-5 is in formation. This should take the script to new 52W high. Script is rangebound at present and has taken support to its 100 DEMA placed at 169.76. Downward retracement is limited till 160 odd levels. A long position can...

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Zomato CMP:259.95; RSI:62.38; Gap created on charts is re-claimed. Any intraday down-swing below the 245 should be brought till the level of 235. At this point the weak hands in the scripts are removed in last 2 -3 weeks of consolidation. This gives a good opportunity for re-entry into the stock. Re-entry-level: between 234 – 245 Near Term Target: 285-290;...

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Hindustan Aeronaut Limited: CMP : 4476.85; RSI: 59.24 HAL has completed Intermediate wave-4 correction , and bottomed out at 200 DEMA, motive wave-5 may take the HAL price to 5500-5600 levels, making it a good candidate to accumulate for a swing trade. Swing Trade Target 1 : 5500-5600 Next Resistance HAL: 4562-4704-4934 Stop-loss: 4100; ✅ For more...

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BEML CMP: 4360.25; RSI: 67.40; BEML has completed primary level ABC correction pattern. Now clear breakout above 4280 level was observed as script is sustaining above breakout level from last 3 consecutive trading sessions, representing strength in script and bottoming out signs. Thus, fresh position in BEML can be initiated. Chart structure is strong and must...

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InterGlobe Aviation: CMP:4469; RSI: 69.62 As per Elliot wave analysis, Inter Globe Aviation has completed primary wave-4 formation @ 3780 and motive wave-5 is in its initial phase of expansion. Confirmation of the same will be evident when script give close above 4885 levels on closing basis. A swing trade is poised in the near future with a upside of 15-20%. ...

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TATA POWER CMP: 428.45; RSI: 50.05 TATA Power in Primary bull cycle & in mid of impulse wave-3 in weekly chart basis. This, Primary Impulse wave-3, should take the price to levels of 646 (1.618x) in next 8-10 month of time frame. While wave within the wave, on shorter time frame, on daily chart frame, its middle of intermediate corrective wave-4, which may...

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NIFTY50 : 23572.30 NIFTY is in Primary Bull cycle phase (on weekly charts) and in middle of Wave -3, which should take the NIFTY at levels of 33k-43K & finally 55K in next 2 years’ time frame . On immediate basis (on daily chart basis) chart structure suggest it has entered Intermediate level wave -4 correction. Nifty at its crucial support of 200 Simple...

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Suzlon CMP: 62.50; RSI: 32.77 At present script is near to oversold territory, script has corrected to 27% in near term, fundaments of the compny is good, it can be accumulated at current price, it has good risk to reward ratio Acuumulation Zone : Rs:60-62 Near term Target levels - Rs: 67-72-77 (3 months) Long Term : Rs 86-87 (6 Months) Stop loss- 54.5 (On...

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Interglobe Aviation CMP:4256.50; RSI: 62.43. Indigo results has been pretty decent and yet again beat the market expectations. Profit booking is seen immediately after that, which is good sign and good opportunity for those who doesn’t hold the shares yet, also a good price point to accumulate. Indigo is undoubtedly enjoying the monopoly scenario for another...

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Zomato CMP:194.40; RSI: 55; Zomato chart structure seems to be very strong, it’s a good buy at the current market price (range of 188-195) for a time frame of 3 months. The script will give clear breakout single once crossed and settled over Rs. 201.50 on closing basis. The various swing targets for the script are- Target- 1- 212-215 ; Target-2- 226-230;...

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City Union Bank: CMP: 163.03; RSI: 65.35 Cup and handle formation has fizzled out in past, while the price action is a range bound. Ascending triangle pattern (contracting) is visible on charts. If, CUB, breaks-out above 171.50 level than new lease of life in script will take it to new heights. For Aggressive traders: BUY at 159-163 Level; for a target...

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AMBUJA CEMENTS LTD; CMP: 676.50; RSI: 54.95 Infrastructure push from government of India and consolidation in a cement sector, makes Ambuja cement a good buy at the current market price. One should accumulate at current price and wait for a long term to see the share multiplying their investment. For the short term targets visible on charts are, Target-1:...

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Suzlon CMP: 79.95; RSI 72.77 At present script has enter into short term consolidation zone. However chart is very strong. Those who are in profit are advised to book profit (50%) between Rs: 80-82. and re-enter at lower level. Profit Booking: Between-Rs-80-82.5 Re-entry After profit booking: Rs-72-75 Final Target : Rs 92- 94 ( 4 weeks). ✅For more trading...