Sunday, November 21, 2010

>SBI Elliott wave analysis.

SBI has played a important role in Nifty rally post breaking out from sideways range.
Even in Index composition SBI comes next to only Reliance and ONGC .
Holds 5.19 in Nifty.

This stock after magnificent rally gaped down after bad results and have not looked back yet.
What could be next in store for it ,We will try to analyse in some time.

The fall from 3500+ levels was vicious and in a matter of days stock was hammered down to 3000 levels.The present structure i see in SBI post 3000 i can count only 3 waves in each leg
pointing to a triangle or wedge .

On daily chart a possibility of expanded flat is arising next few days of trade can throw more
bars on chart then i can analyse precizely.

Fresh short is not advised in stock at present levels Give stock some time.


Monday, November 15, 2010

>India vix

Volatility index (VIX) saw good reversal after completing a abc

Expect some consolidation in vix before it starts to rise again ,Conservative target is
shown on the above chart.So ideally nifty should try to take support near 6050-6020
and attempt a relief recovery ,Failing to hold these levels waves can extent the way it
happened during the upmove.

Saturday, November 13, 2010

>Dowjones elliott wave counts

A post after a long gap,Was busy with work would try to be consistent now on.

Dowjones chart present structure fits in a rather rare kind of elliot wave structure called
as expanded flat.
If this structure works there could be some serious pain across world markets this christmas.
Ofcourse once the pattern finishes can expect nice rally as shown in the below chart.
This scenario suggests nice rally by year 2011 start.Sit back and see how the waves unfold.
There is a less likely scenario where dow rallies directly to C wave targets which looks unlikely.
We will analyze thing as they unfold .