DJI seems to be consolidation at this zone. This is a corrective wave 2. Expecting a break out of the channel is going to be on the upside (around 30400 level) which would be a powerful wave 3 and the upside would be around 35000 Zone. For the confirmation enter the fresh long only on the channel break out.
Bharti breaks out Ichimoku weekly lead spam B which act as a last support. Most likely it’s moving towards its weekly long term mean line and the level is around 360. The only line of hope is Gaan fan last support at 408 level. Still no signs of consolidation and looks like more pain ahead.
ONGC on he completion of Wave 4. Good confluence of moving average (specially EMA 20 and EMA 50) around the current price. Expecting a major move of Wave 5 extending upto he high of Wave 3 .....around 93 zone which also happens to be 200 EMA which may act as resistance.
TCS Seems to in the stage of completing Wave 2. The Wave 3 would be much stronger and may bounce towards upside extending up to 2550 level. In case if the break out happens towards the downside, the downside would very limited. Strong support at 2180-2200 level. So good to hold long. Strong upside post August expiry.
Hindalco rallied yesterday and today to make a high around 160. It cross the pitch fork higher line from April 30 high which and was facing resistance from extended line of higher pitch fork line. At the same, it made a harmonic bat pattern indicating a reversal. With the perfect timing made a good profit in the stock. Seems to face good support around 150 and...