Wednesday, July 31, 2013

>MCDOWELL Elliott wave analysis

Hi friends,
                      Tonight trying to put waves for one of the great out performer of this market ,Yes am talking about MCDOWELL the mad bull 600 to 2800 in matter of 1 year.
 The first chart shows its long term waves which shows its in 5th up .The second chart shows the internal structure of 5th wave which looks to me is in terminal stage last rise kind it should kiss 3000 i think before topping .
Investors who had their share of highs should look to book profit slowly u see hangovers are quite bad after a long night of drinking.

Happy trading

Monday, July 29, 2013

>Nifty elliotwave analysis

Hi friends,
                    Time to revisit an old post about bull and bear scenarios NIFTY .As had told preferred count was bearish nifty made a top near 6090 level and has dropped to 5870,Very rarely or rather say have not seen nifty and banknifty moving in opposite directions july month banknifty gave negative return and nifty gave positive return .The following chart gives my view on nifty for coming months .I expect nifty to hold 5800 and then attempt a rally towards 6050 and then fall towards 5500-5400,These levels can stretch would revisit them when required.
I would reckon banking would be first to bottom,Nifty would find bottom later.

Happy trading..

Friday, July 26, 2013

>Reliance elliottwave analysis

Hi friends,
                    Reliance industries has been rising for sometime laborious move ,It fits well for the following wavecount we should start to see the weakness in it .
952 the previous high remains stiff resistance it reliance remains below that can go into a severe correction and go towards 750 .
Ideal trade would be short it near 940-950 or short bellow 870 stop loss 2% target 750 in about months time.

Sunday, July 21, 2013

>Nifty elliottwave Analysis

Hi friends,
                  The nifty after initial hiccup managed to pull back above 5960 ,And has even scaled a new high things have changed a bit though i still feel its a corrective rally and we could be topping with in 6100-6150 .The following chart shows what i think about further structure.

Ideally nifty should start to be sideways to downward after some rise monday onwards ,I think in any case it should hold 5900 if we have to scale a new high again later.The red line shows the ending diagonal structure overall nifty upside looks capped 6100-6150 it can hover near that for some time before starting downward journey!!

Happy trading..

Tuesday, July 16, 2013

>Nifty pre market 16th july

Hi friends,
                   Yesterday nifty touched its resistance zone 6030-50 old post NIFTY  had mentioned be watchful a correction pending we can retest 5900,5850 in coming days ,I have been able to pin point this move minutely till now ,I hope its helping traders to take their trade decisions.
Happy trading...

Monday, July 15, 2013

>Nifty pre market 15th july

Hi friends,
                     Nifty moved perfectly the way i anticipated we saw a rally from 5760 to 6000+
and yes it made a triangle before rise as was discussed before.Now i see a impulse getting over near 6030-50 levels so we are reaching short term top we need correction or sideways move to confirm impulse end.

WATCH out today for resistance zone..

Happy trading...

Thursday, July 11, 2013

>Nifty premarket 11th july

Hi friends,
                   Nifty moving exactly how i had anticipated in advance a triangle shape has developed
which i had posted on 9th itself nifty .Now above 5920 nifty can see good rally else this could be still in d wave of triangle with a,b done and c should happen today.
Happy trading...

Wednesday, July 10, 2013

>Nifty 10th july

Hi friends,
                    Not much changed from yesterdays post nifty moving the way showed
in last post NIFTY .Resistance comes near 5880-5900 levels ,Be watch full from 5880 levels.

happy trading..

Tuesday, July 09, 2013

>Nifty pre market 9th july

Hi friends,
                   Nifty fell to 5770 and again went sideways uppish this could lead to a triangle shape so this could be a alternate scenario

lets see todays move it would clear if triangle is in progress..

Happy trading..

Monday, July 08, 2013

>Nifty elliott wave analysis

Hi friends,
                  Nifty moved widely between 5760-5900 for last 4 trading sessions ,5900 looks stiff resistance for now ,Sort of double top now it looks evident that we would retest 5750 atleast before
reversing in a severe selling case we can even see 5700-5670 ,We would see that later.
The above chart shows expected movement for the month .

Happy trading

Friday, July 05, 2013

>Nifty premarket 5th july

hi friends,
                  Nifty after testing 5800 went below that 5760 and came back above 5800 now above 5850 if nifty sustains we can see 5920 from where we can see further move .FMCG has again started to support nifty.This month being result month move can be stock specific.

Happy trading..

Wednesday, July 03, 2013

>Nifty premarket 3rd july..

Hi friends,
                    As expected the slow drop of nifty has started expecting first support at 5800 hope many saved their long profits.I expect this slow drop to continue till we see 5800 then we can check the further move.
Happy trading..

Tuesday, July 02, 2013

>Nifty premarket 2nd july.

Hi friends.
                  Expectation was nifty would start to loose strength around 5870 onwards we had a test of 5900 yesterday today we need to see the reaction as its on trend line resistance .

Happy trading..

Monday, July 01, 2013

>Nifty elliot wave analysis.

Hi friends,
                   June expiry was very well predicted when very few even thought of a rally ,I pointed about a rise coming,Now since we have crossed 5800 other possibilities have opened too.I would discuss two wave counts a bullish and one bearish,And later would suggest the preferred count out of the 2. Bullish count suggests we have finished a and b of E wave and c have started as shown in chart below.
This count gives possibility of 6300 again.

Bearish count suggests we finished E at the 6229 and from there we did a A down or W now we would attempt B or X which is shown in the chart below .

nifty should loose strength 5850-5870 onwards and drift down towards 5700 mark and if it holds 5700 should attempt 5950-6000 from there to complete X wave .
With result season coming nifty would be volatile right scenario for an X wave this wave count is the preferred count for july .
We should head lower during first week o july and then try a base by second week and then attempt a rally towards end of july to early august.