The recent price activity however suggests that this period of underperformance is like to end. Hence, WE REITERATE INITIATING LONGS ON THE STOCK.
Target -98 , Revised Stop-79, Time Horizon - t+14 days
Rationale -
The upper reaches of the triangle shown in the diagram above have been crossed today - Breakout of a triangle pattern !
This pattern has evolved in the wave 2 of wave 3 (though triangles are common in 4th waves). The fact that wave 2 unfolded itself in the form of a triangle rather than the more common zig zag is the testimony of the underlying demand for the stock.
A target of 98 (very conservative) seems to be in the offering based on the sheer equality of waves.
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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,
ReplyDeleteI wanted to ask one doubt about your calls. it might sound naive but i have to ask it as it seems to be something very basic in trading based on technicals. What does "t+14" means? what does "t" stands for. is it the date on which you give reco or is it somethiing related to the time at which the stock hits a support value?
Pls don't mind asing such stupid question... but I have a feeling that there might be more number of stupids than wise persons in these markets!!! LoL!!!
Hi,
ReplyDeleteIts not at all stupid - its more than a relevant question.
T stands for trading day. so when i say t+14 i say essentially 15 trading days. If i just write 15 days, everybody would think 2 weeks. Since we see charts - time is the number of bars for us. In 15 trading days we get 15 bars.. hence the time is t+14 and not 15 days.
This is in line with the way exchanges explain their settlement - deliver in t+2 days, f&o mtm margin in t+1 day...... so on and so for.
This t+14 indicates the time horizon within which i expect the stock to move. However, this is not just an indicative guide and should not be treated as sacrosanct.
And yesss,
Need to thank you Ankur. Just the way you said there are many people who are confused about the calls and need better updates. However as i told you i had a time constrain i cud not do it myself.
But i have received an overwhelming response to the paid version that i proposed on the blog - 14 in 3 days !! Hence thinking of starting the paid version by keeping a staff !!
Dint know that would reach here in just a month of starting by blog.
thanks once again,
Trade With Waves
one more thing,
ReplyDeletesee the stocks : amar and cosmo
amar has reached its tgt of 128 - but i feel if somebody sits on it for 2 months, another 25% upside seems very easy.
Cosmo has started its multi month epic upmove to my mind.. just buy and forget the stock... u would get a healthy div yield of 3.5% ... dont be surprised to double your money even from current levels of 180.
MY SUGGESTION WOULD BE - just buy atlease cosmo and forget.
pardon me for grammatical errors, no time to review.... lol
Bye
Hi Webmaster,
ReplyDeleteThanks a lot for your suggestions and of course for credits!
I have purchased a small qty of Cosmo Films as per your suggestion. Seeing the market volatility, i see a chance of adding a few more if markets fall as they had on last two trading sessions in last week. Hoping for the best!
Keep up the good job!
One more suggestion - if you can add a link to your blog letting us know more about you, it would just help in cementing our confidence in you. Believe you me people prefer genuine individuals than selfish experts!!
Hi Ankur,
ReplyDeleteI feel that Cosmo can be a real money spinner once this corrective spell ends. Hence it is a good idea to accumulate the stocks after such opportune declines.
Well as regards the good job - recommendations not faring well since the last 10 odd days. I am beginning to think that I also need to give short calls from time to time - depending on the market.
As regards writing about myself - I am a little weary of doing that at this point of time - ALTHOUGH I AM NOT A SELFISH ANALYST .. LOL. But you can give me your phone number - I will call you myself and have a word with you - you can mail it at my id - tradewithwaves.blogspot.com
As I told you that I started this blog just for fun. Then I started getting traffic and enrolled for advertisements. The ads started earning. And after your suggestion, I had no option but to start with a paid version by taking a member on board - so far the response and the subsequent conversion rate has been good.
However every thing said and done, this is not my bread and butter business. I am primarily a portfolio manager, secondy a trader (own funds) and then comes this website. I am just skeptical that my identity disclosure may disrupt the normal course of my business (will explain on phone)
Hi Webmaster,
ReplyDeleteThanks for a candid reply. I really appreciate that. And I also understand the intricacies of opening up on a public platform like this. However, what i intended by revealing about yourself is just what you have mentioned in the comment above. It is enough for me to know what you do and what is your experience in the equity markets rather than not knowing anything at all. I just hope that evrything is true...hahaha!! LoL!!! No mistrust intended; just enjoying this conversation.
Cheers!!
Hi Webmaster,
ReplyDeletewats u suggestin regardin Apollo tyres.Whether it wil increase 4 QR ??
hi vineeth,
ReplyDeleteseems that this call has gone horribly wrong - results of tyre cos are pathetic. I understand that you need to look for opportunities amidst adversities to maximise roi - however traders need to free up capital on every non performing trade so that they can make money somewhere else atleast.
I would suggest exiting on a rally to 77 odd which looks very imminent.
Trade with Waves