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.

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

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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

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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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