after completing 1st up move nifty to correct to 228 (1st support)or 50% retracement 224 or 61.8% retracement at 220 for 2nd down corrective wave .Once takes support 3rd wave to take it to 280 level.
ITC has completed 5 wave upmove in 1st wave likely to find support at 224-25 or fibo retracement as marked in chart accumulate at lower level as 3 wave down move in progress.
gspl at its support zone having positive divergence buy with a stop of 262 for a target of278.one of the gas producer being recommended by analysts .One of the GAS and OIL stock
consolidating in a range of 760 to 775 from last three months having great book value of above 1000 rs and good dividend yield stocks looking good on chart buy with a small stop
with rising raw material prices of manganese moil to benefit .Technically inverse head and shoulder formation and completion of 2nd wave stock to rise vertically to 222, 280 stock is also having good yeild of 4 %. last year dividend of rs 7.4 and this year interim dividend given rs 3.. final dividend of about rs 5 expected after seeing result of present year.
we are moving toward our target of 3rd wave 180-86( previous top 2 oct 2017 rs 181 and 03 dec 2012 rs 222 and 01-11-2007 all time high of 315 cum bonus) and if crosses 187 with volume we are heading toward 208-10 zone Use super trend 10.2 and MACD and fibo retracements as your tools. This year also expect bonus 1:1
we have a target of 180-81, if crosses 183 will target 222 . Super result with Bonus expected as more then 14 years since last bonus and Book value more then 125 Rs
in third wave once crosses 408 will show real power and target of 416,24 on small time frame and 512 on large frame
after breakout from falling trend line --first wave from 320 to 404 and second wave correction upto 383 done now we are in 3rd wave having a target of above 500 ,595.640 on day chart
we have ended 1st wave near to 406-7 now buy near to 377-80 level 2nd wave support once takes support our target calculation of 3rd wave will be given .
first target of 58-59 where trend line resistance exists once crosses then target of 3rd wave marked for you in chart
first wave complete into second wave probably heading toward 227-28 level fibo retracement level i.e 2 nd down wave . buy near to 227-29 level where 3rd wave to began for a target above 245. 260,280 level
after 2 years of consolidation share breaking out of range minimum target of 89,103 and above
we are near to trend line resistance zone and stock looks overbought sell in a rally today and stay away for 3-4 days as always happens this stocks rises very strongly and folds with double speed and does not give time to investors