Week of 9th May
It did react strongly at the level mentioned in the last post but now has broken the level with full vigor.
Room for upside.
250+
Week of 26th May
Crucial small golden cross just under 225.
Generally the stocks which have bearish undertone do not cross/sustain this level and is ideal for making judgement of medium term outlook for the stock.
Will watch this level closely to understand who wins this battle.
5th May
Finally the 5 Wave impulse down should end between 133-135 and a reasonable bounce can be expected. Since this entire move is an impulse I would consider the bounce only a COUNTER TREND move also known as retracement before second leg down.
How much will the bounce go will depend on how much buying happens but minimum to levels near 158 can be expected.
Any deviation from target price would call for an alternate count.
No respite from bear onslaught.
Should see 146 soon.
28th Apr
Moving as expected. Look for 161+
25th Apr
Finally a bounce seems coming as some delivery based buying was seen today. However not enough to sustain higher levels and it may only remain a bounce.
Possibly in two stages
157
161
Some hope for those stuck in this stock.
Bounces are best not traded as it could be quite tricky.
Best way to trade is to trade in the direction of the trend when it starts journey in the direction of the trend.
Week of 21st Apr
This stock has done its minimum ABC up move and now it is correcting the full move. It is not clear whether it is a part of a bigger ABC or any other pattern, or has completed the move.
It is near cluster of supports and there is a likely bounce ahead. This bounce does not look very strong as buying is missing and therefore not likely to go far. If it does not reverse from here and bounces, upside targets should be ~167.50 or 175. If it moves beyond 180 and sustains, some fresh buying can come and higher targets are possible. Otherwise the stock should head down again to around 146.
The stock has seen extremely HIGH level of delivery based selling near the top for quite a few days which can be considered distribution.
Target Achieved !
Call closed.
15th Apr
Micro Count
Every bounce is a shorting opportunity till 162/163. This level should be seen in this week itself.
This is possibly the last shorting opportunity as 162 seems to be the end of correction and a Buy level.
It did react strongly at the level mentioned in the last post but now has broken the level with full vigor.
Room for upside.
250+
Week of 26th May
Crucial small golden cross just under 225.
Generally the stocks which have bearish undertone do not cross/sustain this level and is ideal for making judgement of medium term outlook for the stock.
Will watch this level closely to understand who wins this battle.
Daily
5th May
Finally the 5 Wave impulse down should end between 133-135 and a reasonable bounce can be expected. Since this entire move is an impulse I would consider the bounce only a COUNTER TREND move also known as retracement before second leg down.
How much will the bounce go will depend on how much buying happens but minimum to levels near 158 can be expected.
Any deviation from target price would call for an alternate count.
Hourly
No respite from bear onslaught.
Should see 146 soon.
28th Apr
Moving as expected. Look for 161+
25th Apr
Finally a bounce seems coming as some delivery based buying was seen today. However not enough to sustain higher levels and it may only remain a bounce.
Possibly in two stages
157
161
Some hope for those stuck in this stock.
Bounces are best not traded as it could be quite tricky.
Best way to trade is to trade in the direction of the trend when it starts journey in the direction of the trend.
Week of 21st Apr
This stock has done its minimum ABC up move and now it is correcting the full move. It is not clear whether it is a part of a bigger ABC or any other pattern, or has completed the move.
It is near cluster of supports and there is a likely bounce ahead. This bounce does not look very strong as buying is missing and therefore not likely to go far. If it does not reverse from here and bounces, upside targets should be ~167.50 or 175. If it moves beyond 180 and sustains, some fresh buying can come and higher targets are possible. Otherwise the stock should head down again to around 146.
The stock has seen extremely HIGH level of delivery based selling near the top for quite a few days which can be considered distribution.
Daily
Target Achieved !
Call closed.
15th Apr
Micro Count
Every bounce is a shorting opportunity till 162/163. This level should be seen in this week itself.
This is possibly the last shorting opportunity as 162 seems to be the end of correction and a Buy level.
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