BHEL: Sell/Short @168 Target 158-151-144 SL 172

Dear Readers,

In the stock of BHEL it has been witnessed sideways movement since its low of 90.15 made on 29th Feb., 2016, the 'Budget Day'. At first look, the movement in the stock looks like it is forming a "Complex Correction" type of pattern.

If this is considered to be true and giving due consideration to the internal counts of the wave from the low of 116.10, wave 'a' of wave "C" or "Y" got completed. Besides, on daily as well as hourly (shared seperately below) chart a divergence is clearly visible.

Moreover, as shown in the chart, until now the stock has been moving in symmetrical way in the channel line drawn. The first leg or wave 'a' of "A" or "W" have corrected almost 50.00% to its rise from 90.15 to 135.45. Considering the same, first leg or wave 'a' or "C" or "Y" may get corrected up to 50.00% of its total rise from 116.10 to 171.75, which comes around 144.

The possible intervals for the southward movement are 158.00, 151.00 and 144.00, being retracement level of 23.60%, 38.20% and 50.00% of the total rise of wave 'a' of "C" or "Y". The stock, for the near future or say for the next few days, does not seem to cross today's top of 171.75.

Below is an hourly chart shared for the further reference of the readers of this blog.

Disclamer:

All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only and not meant to be an advice to trade not does it or the publisher of it guarantee any sort of return or the correctness of the post or any materials.

Trade at your own risk. Undertake proper research before any trade.

Nifty : Bulls & Bears, Who Rides On What?

"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 scale, showing move from 6825.80 to 9450.65. I have tried to simplify and put forth my point of views as far as possible and also have put up some notes in chart as well. Below are some of my observations, that I would like to put forth the readers: (i) The move from 6825.80 to 8968.70 in Nifty looks to be a leading diagonal formation. A leading diagonal can be wave 1 of impusive run or wave A of corrective pattern A-B-C. (ii) The total fall in Nifty from 8968.70 to 7893.80 was 50% of its total rise from 6825.80 to 8968.70 in simple A-B-C formation. (iii) The rise in Nifty, from the...

DIVISLAB : Buy @ 645 Target 670, 695 and 710

Dear Readers, The stock of Divis Laboratories has witnessed a sharp fall in today's market. Looking at the current movement in the stock of DIVISLAB on 15 minutes time scale the stock looks good for the buying opportunity. Below is the 15 minute time bar chart of Divis Laboratories Ltd. Besides, giving due consideration to the internal wave count of the fall in the stock of DIVISLAB, this corrective movement seems to have got finished with the making of low of 632.55. Secondly, on the time-scale of 1 minute one may notice that from the low of 632.55 to the high of 669.95, was a sharp rise and shall be considered as an impulsive wave. On the same time-scale of 1 minute the movement after 669.95, looks like a diagonal triangle (a-b-c-d-e) movement. A sharp rise is expected in the stock on the finishing of the last leg, i.e., 'e', of the diagonal triangle. Moreover, if the stock breaches the low of 632.55, a probable low and strong support for the s...

DHFL: Sell Or Short @354 Target @325 SL @365

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 line drawn on the price chart will not get touched or breached. The price for the upper resistance line, in continuation of the current trend until tomorrow, comes around 364. It is expected that the stock would witness a sharp fall in next 3-4 working days and the start point price of the current last leg of the wave, i.e., 324.55 will get touched at first in the expected fall. Disclamer : All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only and not meant to be an advice to trade not does it or the publishe...

Beta Trade

Search This Blog