RECOMMENDATION : BUY AGGRESSIVELY AT CMP
HEADING FOR WAVE 3 OF 3 !!
TARGET- 98 (conservatively), Time Horizon - 1 month, Stop-74
Rationale :
Elliott Perspective : The recent rally from 59 odd to 88 was the 1st wave of 3rd wave that started in 08-09. Since then the stock has declined to 81 in a classical zig zag retracing 23.80%. With imminent signs of the ending of the 2nd wave, it may be prudent to start buying the stock anticipating the wave 3 of 3.
Traditional Perspective : The recent sideways move seems to have evolved into a flag pattern. This normally occurs half way through any rally. Hence it may not be unconceivable to see the stock fly away 30% in the short term.
Risk Management : Since strong waves very rarely retrace more than 61.80%, it may be prudent to observe a stop at 74.
Disclaimer : The recommendations mentioned herein are for educational purpose only. One should not take buy/sell decisions based on the above analysis which is prone to errors. The author does not undertake any liability whatsoever arising out of profits/losses accruing from using the above analysis.
Hi Misschef,
ReplyDeleteStumbled across your blog through a MMb boarder and realised that your prediction about GIC Housing was precise. You are doing a nice job here. I am primarily a mid/long term investor and generally follow fundamentals of a co. However, now I am willing to take some more risk and want to start short term trading. as per your call I have purchased Ashok Leyland @76.97 (a bit higher than your buy call since I read the reco a bit late) and Apollo tyres @83.00 I would like to submit a suggestion for your blog. Kindly keep adding updates for your calls - i.e. any amendments to your previous tgt/ closing a call/ booking profit or loss. this comes very handy to the new investors and increased reliability of your service to a great extent. You might be already knowing this but I would suggest you to visit a blog called tracktradeinvest.worldpress.com. i hope you don't mind me suggesting these things. Thank you.