Tuesday, April 30, 2013

>Nifty pre market 30th april.

Hi friends,
                   Yesterday nifty crossed fridays high so now we can rise up to 78.6% retracement which
comes at 5983 ,Overall stocks are buzzing according to result ,For the day below 5890-80 mkt is weak can drift down to 5850.
With  may 3rd monetary policy volatility would be on a higher side .
Trade wisely
Happy trading..

Monday, April 29, 2013

>Nifty pre market 29th april

Hi friends,
                   Friday trading witnessed some good selling in select stocks ,Mostly was result related profit booking or selling
Nifty as we see from  hourly chart is showing exhaustion,We could be in for a short term top
if nifty fails to go above Fridays high  ,Or below 5850 it would be a confirmation that
we have finished A wave.Lets see how nifty behaves today to further get confirmation on the
Happy trading!!!

Friday, April 26, 2013

>Maruti elliott wave analysis

Hi friends,
                   Maruti today touches an important trendline resis ,The slanting upward contracting
structure looks like a ending diagonal or rising wedge not confirmed neatly as the inner structure
is not that clear keep an eye on this till 1720 is not crossed we are in for a prominent top .

Thursday, April 25, 2013

>Nifty end of day 25th april

Hi friends,
                     Nifty continues to go up in a spiky fashion ,A characteristic of X waves
running as if no tomorrow.
The hourly chart shows a parallel
up channel yet to be violated look for a breach the early sign of weakness fib shows this can conquer 5980-6000

Wednesday, April 24, 2013

>NIFTY medium term ANALYSIS

Hi friends,
                   Taking further from my last post on nifty ,Had stated x wave is on which can target 5900-6000
Now this x can take many shapes we need to wait and see its structure ,Its almost reached trendline
resistance which is coinciding with 61.8%  (5870-5900) .Above that can target (5980-6000) 78.6%.
once this wave ends nifty can see lower levels ,Here i would like to make a brave statement we can go towards 5000 and lower levels.In wave terms i am equating this whole pattern from 2010 nov highs as a big abc structure with c being in initial stages of unfolding .This wave count stands wrong
if we scale a new high above 2010 nov highs.

Sunday, April 21, 2013


Hi friends
                   Tata motors after witnessing multi year bull run ,Has started to show
exhaustion in strength as its evident by the corrections in short duration in a slanting
upward direction in technical terms we could be forming a rising wedge or in wave terms
ending diagonal with last leg of rise going on.
 As seen from the above chart this topping pattern has emerged after a multiyear extended
3rd wave.In 2008,Tata motors acquired the British car maker Jaguar Land Rover,There were lot of rumors about the difficulty by which Tatas funded the debt ,Well 2009 to 2010 saw extended 3rd wave rally in it :). 
In this final push up levels of 360 can be seen where investors should look to
book their profits and traders can look for shorting opportunity.Would be looking closely Tatamotors
for next few weeks:).

Friday, April 19, 2013

>USDINR Target

Hi friends,
                   USDINR has been in the range of 53 to 55.50 for many weeks now
When i breakdown the waves i see a lot of abc's around which indeed suggest of a rangebound
move to continue for some more time .
Trade idea can be  buy near 53.50 target would be 55.50-56
once we near 56 a short can be taken for a target of 53 again suggesting a lot of sideways move
coming forward.
Once we go below 53 or go above 56 we can rework the wave count.Lets see the USDINR move in coming days.

Tuesday, April 16, 2013

>Nifty analysis

Hi Friends,
                   Today nifty took 5650 resistance and closed above that ,Which suggests W is done
and we are in for a X wave a retest of 5650 would give strength to the move ,The next big resistance
comes near 5800+ levels .The next few days would shape up how the structure of X wave evolves

Friday, April 12, 2013

>Nifty 15th april

Hi friends,
                   Nifty continues to squeeze
The structure suggests a labored rise towards 5650-5700 and if it fails to sustain above  5650
after that  a swift fall towards 5480-5450 would be expected to form the pattern .Next few days move would clear picture ,Range squeeze continues :).


Hi friends,
                  Infosys has become darling of speculators ,Result day is a big satta day you would see
a big move either side.Wave wise Infosys finished c of big B and started big C down as shown in following chart ,It has a potential to touch 1800 atleast .

Thursday, April 11, 2013

>Nifty bearish scenario

Hi friends,
                   The nifty has been in a down move for quite some time now .Its been a slow drag
with in between fast bouts of dump.
Wave wise looking at structure on a weekly chart it suggests we could be in for a serious damage
in coming months after a relief rally ,I would suggest to book profits in coming rises and come out from struck positions after some relief.
We could be in making of big ABC structure which if materializes can seriously damage ones portfolio ,Would rather say has already damaged ,Ask someone having midcap portfolio.
Coming back to charts nifty is forming a squeeze which should give a relief rally in some time
Nifty support lies in 5470-5400 range