The Wave and HnS gallery

Key BD stocks.

1. ACC
2. Ambujacem
3. Siemens
4. Sobha

 Refer comments on charts

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

Stock Post: Stocks beginning with A

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


ABAN:
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.

ACC:
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

Adani:
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.

ALBK:
Nice TOP, risky short

Andhrabank:
One more overgrown PSU bank stock

APIL
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

ACC Analysis dated 6th Jul 2010

Seems that ACC has completed Wave 2 on upside. The retracement is not a wave 2 typical retracement, the retracement currently is only 38.2%.

ACC shall be a sell below TL1 (Rs. 836), which shall lead to a cup and handle structure, with a price target of Rs. 789, from the lip of cup at 836. This is bearish setup. THe stock has given a negative crossover of 3 major EMAs (5,13, 34) and is coupled with a drop in ATR. As mentioned in previous post in Reliance, a low in ATR generally marks a change in trend. A break above 863 shall be bullish for the stock and break below 836 shall be bearish.

ACC EOD Chart Wave Count

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