Ambuja Cement : Targeting Price Level 270

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 resistance line.

Any move below the price level of 227 would change the situation. So, it would be detrimental for the long position if price level 227 gets broken downside.

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.

Twitter: @beta_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...

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.

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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