Amid lot of stake sale news of its subsidiary or the company itself, i went through the long term chart and found some interesting EW counts.
Have put up details for thisTRADE SETUP on the chart itself, Kindly refer in Numerical Order.
1.http://i49.tinypic.com/27y48jd.jpg
2.http://i50.tinypic.com/143e5v6.jpg
3.http://i46.tinypic.com/5kqbec.jpg
4.http://i47.tinypic.com/2lo639u.jpg
Kindly Note: STRICT STOP LOSS SHOULD BE FOLLOWED FOR THE ABOVE TRADE SETUP.
Hi Manish,
You have done a wonderful job. Fantastic explanation and great analysis.
Manish,
You are quite right that if the stake sale happens, you could easily expect a 50% odd movement but the stock might be punished otherwise. It might be a little risk oriented trade.
~Supratik
@ Tony: Thank you for ur kind words,
@ Supratik: What u say is right, hence my emphasis on STRICT STOP LOSS.
Manishji, is this trade valid with the stop-loss of 985 breached ??
STRICT STOP LOSS.
No the trade is not valid at all, as the stop has been hit, (Some rumors are making the rounds that the deal with Pfizer has been called off, and an HNI has offloaded his holdings)
But the company clarified that those were just rumors .I guess the stock should bounce back a little
http://www.moneycontrol.com/stocks/stock_market/corp_notices.php?autono=639012
Deal is final is there a trade possible here ? Or it will fall as claris lifesciences
