RPower: On The Eve Of Q4 Earnings

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 invested in the stock on the higher price after the listing of the stock on Indian bourses.

The stock may try to touch the upper resistance/supply line before it starts moving further down.

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.

Undertake proper research and advice of your investment consultant before taking any trade.

Trade at your own risk.

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Ajanta Pharma : A Neutral View

Dear Reader, The stock of Ajanta Pharma has witnessed a long "Bull Run" since its low of 6.04 made on 9th April,2009, and looks like there still remain space for its bigger "Bull Run" in years to come than what has been witnessed untill date. It will be too early to predict the future price of it as of now. However, I have tried my level best placing possible wave counts, at various degrees of time cycle, for the further reference of the readers, in the chart shown below this post. For now, the stock of Ajanta Pharma looks to be in a corrective zone and possibly forming a double (WXY) or triple (WXYXZ) zigzag kind of complex corrective pattern, as shown in the chart above. Those who follow Wave Principle would recognize the same, and their opinions, critiques and comments are welcome. From the top of 2125 to the low of 1526.65, wave "A" (circled), giving due consideration to its internal wave counts looks to be an impulsive wave. The coun...

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 ...

Mothersumi : Rising Wedge/Ending Diagonal

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 pattern of the stock. Though, I am not sure about at which degree of the stock is currently trading, but the knowledge and experience that I have gained in EW Principles, considering myself still at learning stage, suggest me that the stock is currently trading in its "Intermediate" wave IV of its Primary wave 5 of its Cycle Degree wave 1 which started way behind in the month of October, 1998. As said before, keeping in mind the rules and guidelines of EW Principles, the stock is currently trading in its Intermediate wave IV and probably forming a complex correction either in double ...

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