sgor1980

sgor1980

BHEL, since its low of 90.15, has been moving in a parallel channel line forming zigzag (5-3-5) movement on either side. Any breach of this channel's support line shall be confirmation for the stock moving further down and may breach its low of 90.15. However, until it breaches the channel's support line there is possibility that the stock may, sooner or later,...

sgor1980 Updated 

Sun Pharmaceuticals Ltd has, looking at monthly chart, been witnessing sideways movement in its stock price. The share price has gone more than half making low of 571.90 from its all time high of 1200.80 on NSE. The stock, however, has been moving in the range of 610-730 after making its low of 571.90, making higher lows and lower highs, one of the...

sgor1980

"Nifty : Bulls & Bears, Who Rides On What?" Well, the discussion on this issue can be an endless. However, the importance and the very existence of both makes the market more reliable and provides an endless opportunities for both buyers and sellers. And I think there is no doubt about it and everyone agrees on it unanimously. Above is Nifty's chart on daily time...

sgor1980

The Stock of Adani Port looks to be in the extended wave III, as shown in the chart, if the alternate wave count is correct. The stock is currently trading @347. The stock can see an up move targeting price of 400 or more. However, if the stock moves below the price of 317 then the stock can see further decline up to the price level of and get its support around...

sgor1980 Updated 

The stock of REC Ltd has seen a big move since its low of 76.22 to the high of 216.25. A parallel channel has been drawn connecting its higher highs and higher lows. One should note that the stock has recently breached its upper resistance line, but unable to sustain above the same. The stock may or may not try to touch this upper resistance line but there is...

sgor1980 Updated 

The stock of HPCL may find its support @534. The stock may target for the next upside level in the zone of 590-620. However, if it breaks below 514, on the worst part, then the situation may get reverse. The downside risk is of 20-25 points and upside gain can be of 50-100 points.

sgor1980 Updated 

The stock of Ambuja Cement looks to be in its final fifth wave from its low of 191 made on 22nd November, 2017. Looking at the chart given above the stock seems to have either completed or about to complete the inner wave four of its extended fifth wave. This last leg of the extended fifth can extend up to price level of 260 - 275 or can and move beyond the upper...

sgor1980 Updated 

Here I have tried to simplify the wave counting on the chart of PNB, as far as possible. The stock looks to be under irregular-B wave of its flat corrective pattern, most probably. The stock may see rally up to 184 depending on the completion of its sub-micro wave (4). After the completion of the sub-micro wave (5), also completing micro wave 'rounded-C' and...

sgor1980

A bullish Divergence is appearing in the stock of Signet Industries. The stock had witnessed a long distress & constant selling pressure since 29/01/2016 from its top of 71.90 to its recent low of 13.30 made on 20/04/2017, a period of almost 13 months. Remember that 13 is the number of the Fibonacci numerical series. Secondly, the stock having seen such a big...

sgor1980 Updated 

An impulsive movement has been witnessed in Nifty from its top of 9273.90 to its recent low of 9075.15. The movement that the market is witnessing from the low of 9075.15 to 9218.55, today's high until this time while writing this post, looks to be more of corrective nature in response to its fall from 9273.90 to 9075.15. Besides, the market, few days before, has...

sgor1980 Updated 

Deccan cement is looks to be in the last leg of its extended fifth wave of its impulse run started from the low of 767.10, made on 21/11/2016. The stock is likely to touch the level of 1350 over the next 10-15 trading sessions.

sgor1980

Reliace Power has just reversed after touching the supply line drawn in the chart connecting the two highs of 61.25 and 56.45. The stock of RPower, before breaching out of the supply line and start new bull rally, is trying to test the patience of the investor who have been invested in the stock since the Initial Public offerings or of those who might have...

sgor1980

Dear Fellow Readers, The management of Infosys Ltd (INFY) is about to declare its Q4 earnings on 13th April, 2017. The stock has been under bearish mode since June 2016 after hitting its all time high price of 1279.30 per share. The movement in the stock of Infosys Ltd from the low of 66.10 made in September, 2001 to its all time high of 1279.30 was an impulsive...

sgor1980 Updated 

Dear Readers, A Leading Diagonal Pattern formation has been witnessed and looks to have completed in the stock of NTPC from its low price of 107.10 to its recent high price of 178.85. The same can be visible from the given chart as shown. After the completion of this leading diagonal, the stock of NTPC seems to be in corrective zone and looks like forming a...

sgor1980 Updated 

Dear Readers, A corrective pattern has been witnessed in Karnataka Bank giving a rise to opportunity to sell or short in the same. One can go short in Karnataka Bank with a target price of 135.15, 133.25, 131.30, 127.40 and 125.00. Short covering can be done after any move beyond 147.40. Disclaimer: All views, charts, comments, post or any materials of any kind...

sgor1980 Updated 

Fellow Readers, There has been witnessed a "Rising Wedge" pattern in the stock of MOTHERSUMI, the same has been shown in the chart. This rising wedge pattern, at first look, looks like an "Ending Diagonal" pattern. As per the EW Principle such ending diagonal patterns appear either in the final 5th wave of impulsive run or the C wave of an A-B-C corrective...

sgor1980 Updated 

Fellow Readers, Few days back we have discussed about the NIFTY, which was making new highs despite sluggishness witnessed in many leading stocks. The question that arose in the mind was whether the current run to 'All Time New High' is a boost to a new bull run or it is a trap for positional and day traders? Though, the answer to this question is not as easy as...

sgor1980 Updated 

Dear Readers, A divergence on daily basis has been witnessed in the stock of DHFL, whereby the current price is higher than the previous top, while the current MACD of new top is lesser than previous top, please refer to the chart for the same. It is expected that the resistance line drawn on the MACD indicator would not get crossed as well as the upper resistance...