Stock Pick
HDIL
CMP: 83.65
Recommendation
Sell : Sell between CMP to 87
Stoploss : 91 (Close)
Targets : 71 - 61
Time : 4-8 Weeks
Observation
The stock is showing negative bias for the short term.
The stock is in progress of five wave decline in which “wave i
& ii” has completed. “wave iii” is likely to start downwards.
Price is moving with the downward pitchfork setup which could
push the price further down towards 71 -61 levels.
The levels are 100% and 138.2% projection levels of last two
legs.
Price is trading below all short term key moving averages; in
addition price has been forming higher tops and higher
bottoms.
Traders could short the stock between CMP to 87 with the
stoploss of 91 for the targets of 71 - 61.
HDIL
CMP: 83.65
Recommendation
Sell : Sell between CMP to 87
Stoploss : 91 (Close)
Targets : 71 - 61
Time : 4-8 Weeks
Observation
The stock is showing negative bias for the short term.
The stock is in progress of five wave decline in which “wave i
& ii” has completed. “wave iii” is likely to start downwards.
Price is moving with the downward pitchfork setup which could
push the price further down towards 71 -61 levels.
The levels are 100% and 138.2% projection levels of last two
legs.
Price is trading below all short term key moving averages; in
addition price has been forming higher tops and higher
bottoms.
Traders could short the stock between CMP to 87 with the
stoploss of 91 for the targets of 71 - 61.
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