JUBLFOOD: It's time to BUY pizzas Key take aways:
1. Completion of 5 corrective waves
2. All Oscillators are at over oversold conditions
3. Almost no risk to high reward condition.
Markets are in down trend but for next couple of weeks a upward rally can be expected in the market due to many short covers in market, which can also support the upward rally of this overheated pizzas.
Trade safe, cheers.
BSE
Maruti - Wave Competition with Rising WedgeIt seems like maruti has steamed out with price action, where price is increasing but with low volume, showing weakness. I believe it has completed its 5 wave impulse move in its weekly chart.
In order to confirm the bearish trend reveral, I'm waiting for a break out from the ascending triangle or rising wedge to downward.
LIC Housing Finance (Indian stock: NSE)Risky to buy LIC Housing Finance at this time. Fibonacci clusters of resistance are appearing at the tip of the price travel. We need to watch the levels of 506/508 carefully before buying this stock. If it fails at any of these levels, we can expect a C wave to 380 levels.