Wave 1 of wave 5 has broken its upper support !! Now it needs to cool down as it is now overbought on --
Expecting 7500/7400 as end of wave 2 in coming week by 11 May'16 !!
Once Nifty breaks the upper again it would confirm start of Wave 3 of Wave 5.
Some Stocks which were added last time :
Axis Bank has shown 2-3 gapups a sign of upmove !! Look out for Yes Bank as well in coming next week !!
Bank Nifty and Reliance will lead this rally -- with Sunpharma looking to break its upper -- Arvind & Tata Steel, some other stocks which will lead the Nifty higher.
New Stocks To List Added :
8. And Gold
On Arvind it wont move much by looking on charts ... So moving out. Tata Steel has given a handsome return once it broke its upper .. moving out from it as well.
IT and Pharma looks negative even Sunpharma is now good shorting candidate as USDINR has breached its support.
Long Gold ( Keep in mind INR is also appreciating so less profit compared in terms of USD )
wave 1-2 completed as Nifty looks sure to move up the trendline !! Instead of wave 2 correction we are now in wave 3 !!
wave 1-2 correction in the coming weeks !!
Just dont short !! Buy the dips market !!!
Wave 3 in play !!