Thursday, August 12, 2010

Stock Post: Stocks beginning with A

Elliott Wave and Technical Analysis of Stocks - Aban, ACC, Adani, Albk, Andhrabank, APIL and Ashokley

major trendline break here, ABAN can be initiated SHORT with SL of 900. This is a wedge breakdown with the targets as the starting point of wedge. The target for ABAN shall be testing the lows at Rs. 630. The bull candle on 28 Jul shall be support for ABAN at 816. Clearing 816 and 800 shall be major bearish for ABAN, where it can start its move to Rs. 630.

Target zone for fall. between 700 to 675. Seems wave ii of wave 3 is complete. Wave, a rather fierce downside can resume for ACC

Currently Adani is at 612.75, at 2x ATR SL works out to 640. I expect this to be a formidable top for Adani and shorters may enter with the SL (in consonance with their capital). Longers can get out of this stock.

Nice TOP, risky short

One more overgrown PSU bank stock

61.8% retracement of wave B, ready for Wave C down. Wave A down was 1150 to 185, approx 83% correction. Expect wave C to see 83% correction\, with target of 126 on APIL

Ashok Leyland: Running Flat

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students


God's Own Scourge said...

your nifty count needs some correction i feel , if abc has ended why mkt is not falling , hope you got my point

Vivek Marne said...

Yeah.. seems so.. lets see, internal count need to check..