- RelCap took support from 61.8% it may move up to 944.
- Relinfra took support from 61.8% it may move up to 1215.
- DLF took support from 50%, it has a good chances of moving up to 455/488/518 levels.
- GMR Infra took support from 61.8% and it may move up to 152 levels.
- HDIL took support from 61.8% and it may move up to 349 levels.
- HCC took support from 78.6% and it may move up to 117 levels.
Theory is after formation of "ABC" one can trade towards the target "D" in ABCD pattern. But here the levels are involved with only one Fibonacci level, the probability of reaching the targets is less.
Most of them showed bullishness from the Fibonacci levels, and volumes after the reversal are also good.
3 comments:
hi Doji,
here are a few more scrips that may form ABCD,
Axis Bank: http://imgur.com/6LqMq.png
Grasim: http://imgur.com/Y0BRp.png
JPAssoc: http://imgur.com/zBeO4.png
Praj: http://imgur.com/YDqoa.png
Siemens: http://imgur.com/I6XEJ.png
Hoping to see a yummy ABCD pattern on the daily charts soon :)
Regards,
Manu
Hi Manu,
Nice one, thanks :)
Praj and siemens are almost near "D", today praj reversed with out reaching 111.
Grasim, Axis bank, JPAssociates has long way to go to form ABCD.
DLF formed ABCD and reversed today, watch out for that.
-Doji
hii Doji any email id where you can be Contacted Need Some Help , please Email me your id at chirag@askchirag.com
Thanks In advance
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