NikhilGhodke

NikhilGhodke

Please see the related idea attached below, in order to refer where this is coming from. SINTEX, which has been shot down by bears from 91 levels to 70s, seems to have completed its impulsive wave 1-2-3-4-5. As mentioned in the related post, we were waiting to see which level will the stock take support at. After taking down first two levels (we should have...

NikhilGhodke Updated 

ZEEL has corrected by 22% in a span of 30 trading days. A head and shoulder was formed at the price level of 500, but was taken down forcefully by the bears in the ongoing attack on Nifty. Thereafter, the stock has corrected even further and is about 3% away from its next support level - around 430. As a further downside is expected in Nifty - 7850 to 7900...

NikhilGhodke Updated 

It has been observed that SINTEX has rebounded from 75.7 levels today - thus taking the support of lower channel line. If the selling rout in the market calms down for a while, we may see a bounce upto 81-82 levels. If selling persists for next few days - immediate support levels are 50% Fibonacci retracement around 73.8 and a much stronger support level around...

NikhilGhodke Updated 

The fall in ACC has not been surprising - governments crackdown on black money has dragged real estate and infrastructure stocks in the red, with ripples felt in the allied sector such as cement. The stock was already on a decline - last week's news made the fall steeper. ACC has successfully retraced to 0.382 of its top at CMP of 1400 What indicators are...

NikhilGhodke Updated 

After finishing impulse wave 3 in mid-October, APOLLOTYRE has found itself in correction mode (wave 4). Although the price decline in wave 4 has been fairly steep, we cannot deny the fact that it is close to 50% retracement level of wave 3. Further, as indicated by the shaded green region, zone 190-195 is very critical for further movement. If the stock gets...

NikhilGhodke Updated 

MRF has raced up around 60% for the past four months without any meaningful correction. Daily chart is giving indications of exhaustion on the part of bulls. With a reversal in Nifty on cards, it seems quite likely that MRF will follow suit. What indicators are saying: Double top - Price pattern has formed a double top near the 54000 level. Bollinger bands - CMP...