INDUSINDBK : Sell/Shot @ 1375 Target 1311-1258-1216 SL 1425

Dear Readers,

A negative divergence has appeared in the stock of INDUSINDBK on its daily time bar chart. However, the stock on weekly and monthly chart has not shown any negative divergence nor does it look like to be for medium to long term period. Still, we may see a short term southward movement which may look like a sideways corrective movement to its medium to long term bullish movement.

For short term period of time, i.e., over the next few days or weeks, one may witness a southward movement due to the negative divergence that has appeared on the daily time bar chart of the stock of INDUSINDBK.

One may go for selling or shorting in the stock with the target of 1311, 1258 and 1216 being 23.60%, 38.20% and 50.00% retracement level of its total rise of 359.30 points from its low of 1036.70 made on 24th Nov., 2016.

Giving some space for the possibility of extension of current bull run in the stock showing upside movement a stop loss of 1425 shall be kept on safer side. Those who are risk averse shall keep 1396 as stop loss and enter in sell or short position at or around 1425 for the above stated targets.

Target may get revised depending on the situation stated above.

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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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

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

NTPC : Completion of Leading Diagonal

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 178.25. 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 simple zigzag (5-3-5) corrective pattern, though it is too early to predict the possible corrective formation. However, at first look it looks to be forming the simple zigzag pattern. The first leg, wave 'A', of this simple zigzag pattern, looks to have completed its first three waves, is about to complete or have completed it fourth wave and will complete its last wave five over next few days. A parrallel channel has been drawn to show the possible resistance and support point for making entry or exit. Secondly, the stock is witnessing sideways movement as against the sharp fall in the third wave of

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