Let us stick with this alternate count which we have presented since last week. Markets are behaving as expected in this pattern. We will review if lower trendline is broken
Sensex have given a decent rally in last 2 days
I am not here to catch a top in this rally and I would suggest you not to fall in that trap. Only if prices break below trendline we can evaluate alternative wave pattern
Hindalco
TARGETS ACHIEVED!
Hindalco achieved target of 131 as stated in our previous blog i.e. 14% return in just 1 week!!!
Please book your profits for the remaining positions at this level. More aggressive traders can use trailing stop loss method (SL @ 125)
We are keeping close watch on this stock to see when reversal might occur
Time cycles suggest we are nearby forming a peak this week
Yes Bank
Yes Bank - Good opportunity!
Yes Bank is forming a very appealing pattern - an ending diagonal
It provides an amazing opportunity to go short on this stock but "only" after we get a price confirmation that the pattern is over
A short position can be initiated if prices fall below 174 with a target of 130 - 135
We can see a throwover today and prices shall reverse anytime soon but if prices continue to rise we may need to adopt alternative counts
The momentum is strong so please do not initiate a short position unless a confirmation in price is obtained!
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