CUMMINSIND : Sell/Short @ 910-911 Target 880-860-840 SL 918

Dear Readers,

If you see the long term chart of CUMMINSIND, you would find that the stock has been witnessing a sideways movement making higher lows and lower highs.

The internal built of the first leg from the low of 746.15 to the high of 947 and third leg from the low of 747.55 to 921 looks like impulsive movements, please refer to the chart for the reference. Let us name those impulsive movements wave 'a' and 'c' for time being

Now, if you see the chart, whereby a resistance line has been drawn conjoining the two tops of these two impulsive movements, 947 and 921, end point of 'a' and 'c', the stock has reached/ touched the resistance line and may find a strong resistance over this point.

This is a suitable point where the traders can sell or go short on this stock at current price of 910 for an immediate targets of 880, 860 and 840 with the stop loss of 918 on upper side.

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 nor 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.

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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...

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...

Bank Of Baroda : Sell/Short @166-166 Target 160-157-153 SL 170

Dear Rearders, As shown in the chart, the stock of BankBaroda is breaching the lower support line of the channel line drawn. Secondly, the stock seems to be in corrective zone having completed its corrective wave '(a)' @169.65 of its possible 'flat' type correction. Considering the same the possible irregular '(b)' may get extended beyond the start of wave '(a)'. It looks good to sell or go short in the stock @165-166 with an ultimate target of 153 being 138% retracement of wave '(a)' with stop loss of 170. 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.

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