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Wednesday, November 2, 2011

A few SHORT candidates.

 TVS Motors chart .The first chart shows  exact retracement to golden ration 61.8%

The 2nd chart shows that the price is channeling  which could be interpreted as a BEAR FLAG .

We also have a wolfe wave target of around 55. .

Elliot wave wise we can say that B completed and C wave is starting now . the RSI is at overbought levels.  This one looks like a definite SELL at the present levels.
PVR charts  below . Channeling and knocking at resistance levels  . Also can be said to be a BEAR FLAG .  Divergence seen .  Wolfe Wave targets below 100.

Mahindra & Mahindra . 5 waves looks completed. Wave 5 stops exactly at 161.8% of wave 1 .   Flat 2nd wave correction . diagonal triangle in the 4th . Elliot wave doesnt get better than this .

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