The Corporation Bank case

Corporation Bank is retesting true trendline resistances near 560 levels. The minor structure looks like an ongoing second corrective wave up which should complete near key resistances at 560-570 levels. Below respective resistances we expect further negativity in a third impulsive wave down. Our first target lies at psychological 500 levels.

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Coverage India: CNX100 traded stocks and Indian Indices.

Michesan Anna-Maria, Head of India Research. Anna discovered her interest of markets immediately after completing her graduate studies in Economics. She followed it up with post graduate studies in corporate finance. A host of research work in behavioral finance, option strategies and quantifying market sentiment followed. Anna covers Indian equity and combines Elliott, Time Fractals and Time Analytics to deliver accuracy across time frames. To review some of her work, check out the annual India accuracy report 2009.


One Response to “The Corporation Bank case”

  1. Akash says:

    I am an avid follower of your view’s on different scrips as well as index from past few months. This is the first time when I am daring to make a comment as a lame analyst for Corp Bank. My personal views seems to be contrary to the above post as on the weekly charts the slide from the 650 mark to 538 levels in the past two months has resulted in a ADX climbing up to 47 levels which is a suitable candidate of a top out formation of the indicator on the charts, also supported by a bounce back of the Slow Stochastic indicator on the charts above the 20 mark. This counter could be a suitable candidate for buying above the psychological levels of 555 for an immediate target of 605 & a medium term target of 680 with a three months perspective. Hope that this comment would be graded taking into consideration my limited knowledge and understanding.

    Regards
    Akash Singh

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