STOCKS - EW COUNTS

Hi Friends,

Today I'm Posting my Wave counts on Few Stocks which might be ready for medium to long term Trend Reversal. 

ACC

ACC

ACC formed Head & Shoulder pattern. After break down the stock retested the neckline, which seems to be wave B Pullback. It is expected to decline in wave C to 700 to complete the head target.

ASIAN PAINTS

ASIAN PAINTS

Stock seem to have completed extended wave 3 near 560. It formed an Ending Diagonal in (v)th wave. Move below 520 may signal start of next leg down. Stock may drop to 340 or even 250 in wave 4 down.

AXIS BANK

AXIS BANK

Axis Bank seem to have completed pullback in wave 2 or B up near 1260. The stock closed below short term EMA supports. Move below 1160 would signal start of next leg down. As per wave equality stock may drop to 490 in wave 3 or C down till March 2014.


HDFC BANK

HDFC BANK

HDFC Bank seem to have completed pullback in wave 2 or B up near 690. The stock closed below short term EMA & Channel supports. Move below 655 would signal start of next leg down. As per wave equality stock may drop to 490 in wave 3 or C down till March 2014.


HDFC LTD

HDFC LTD

HDFC LTD seem to have completed pullback in wave X uo near 865. The stock closed below short term EMA support. Move below 815 would signal start of next leg down. As per wave equality stock may drop to 570 in wave Y down till March 2014.

ICICI BANK

ICICI BANK

ICICI Bank seem to have completed pullback in wave 2 or B up near 1140. The stock closed below short term EMA supports. Move below 1000 would signal start of next leg down. As per wave equality stock may drop to 660 in wave 3 or C till March 2014.


DR REDDY

DR REDDY

Stock seem to have completed wave 5 near 2500. It formed an Ending Diagonal in (v)th wave. Move below 2350 may signal start of next leg down. Stock may drop to 1600 in next wave down.


TATA MOTORS

TATA MOTORS

Tata Motors has formed huge weekly Ending Diagonal Pattern.. The pattern seems to be complete near 400.  Move below 370 would signal a start of huge correction. Stock may drop to 210-180 in next 12-15 months.


Thanks & Regards,

Harsh Dixit.