NIFTY has expected in my previous post has continued its downward journey
Summary
Target 1 - 87
Target 2 - 79
SL - 105
This correction is healthy and allows charts to move down from over bought zone and moreover all sell calls have resulted because of the rally that got over as part of the 5 wave impulsive pattern
We have couple of stocks which have given a good run to the top and it is time for giving out sell call on such stocks
Sell Calls
1. Zee Entertainment Ent Ltd (ZEEL)
Zee Entertainment went through a good rally and completed the impulsive 5 wave pattern and now it is going through a healthy correction
Short Zee at current levels and target 167 to 173 in next couple of trading sessions. Strategy is to short on every rise
Summary
Short Zee Entertain at current levels and whenever you see a rise keep shorting it
Target 1 - 173
Target 2 - 167
SL - ABOVE 208
2. WIPRO
After a fantastic rally from lows of 325 to highs of 396, Wipro is looking very bearish on charts and has already gone through a 3 wave correction, however going by charts there is 4th slight upmove & 5th further down move waves about to come
In next couple of trading sessions keep shorting Wipro on every rise and aim for a target anywhere between 340 to 346 or even lower than that
Summary
Short Wipro on every rise
Target 1 - 346
Target 2 - 340
SL - 381
3. Vijaya Bank
In my previous blog on Bank NIFTY & banking calls I had mentioned that a clear correction is on the way and that banks will slide all together. As per that same logic Vijaya Bank is going through a correction currently
Summary
Short Vijaya Bank at current levels
Target 1 - 48
Target 2 - 45
SL - 60
4. Unitech
Unitech had run all the way from 18 to 28 levels and now as part of the correction can test 19 or much lower than that
Summary
Short on every rise
Target 1 - 21
Target 2 - 19 or much lesser
SL - 29
Short Zee at current levels and target 167 to 173 in next couple of trading sessions. Strategy is to short on every rise
Summary
Short Zee Entertain at current levels and whenever you see a rise keep shorting it
Target 1 - 173
Target 2 - 167
SL - ABOVE 208
2. WIPRO
After a fantastic rally from lows of 325 to highs of 396, Wipro is looking very bearish on charts and has already gone through a 3 wave correction, however going by charts there is 4th slight upmove & 5th further down move waves about to come
In next couple of trading sessions keep shorting Wipro on every rise and aim for a target anywhere between 340 to 346 or even lower than that
Summary
Short Wipro on every rise
Target 1 - 346
Target 2 - 340
SL - 381
3. Vijaya Bank
In my previous blog on Bank NIFTY & banking calls I had mentioned that a clear correction is on the way and that banks will slide all together. As per that same logic Vijaya Bank is going through a correction currently
Summary
Short Vijaya Bank at current levels
Target 1 - 48
Target 2 - 45
SL - 60
4. Unitech
Unitech had run all the way from 18 to 28 levels and now as part of the correction can test 19 or much lower than that
Summary
Short on every rise
Target 1 - 21
Target 2 - 19 or much lesser
SL - 29
5. RPOWER (Reliance Power)
Impulsive wave pattern is over now and looks bearish on charts. Short at current levels and target close to 79
Impulsive wave pattern is over now and looks bearish on charts. Short at current levels and target close to 79
Summary
Target 1 - 87
Target 2 - 79
SL - 105
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