BHEL : Will It Make Or Break?

BHEL, since its low of 90.15, has been moving in a parallel channel line forming zigzag (5-3-5) movement on either side. Any breach of this channel's support line shall be confirmation for the stock moving further down and may breach its low of 90.15.

However, until it breaches the channel's support line there is possibility that the stock may, sooner or later, complete its upside target which may finish with completion of another impulsive run from its recent low of 133.60 by touching or coming nearest possible to its upper resistance line.

Secondly, with the counts of complex correction there has been provided another alternate counts which suggest that the run from the low of 90.15 to its high of 182.75 was an extended flat corrective pattern. If this run was an extended flat corrective than the breach of support line or the recent low of 133.60 may confirm the same.

The fall from the high of 182.75 to 133.60 was a three wave pattern. If the stock is about to witness any further fall then it may give a sideways movement over the next few trading days and then start falling again. The stock may see resistance around 145-148 zone.

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

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

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

Beta Trade

Search This Blog