Thursday, November 28, 2013

Nifty 29th november

Hi friends,
                  Nifty continued its lackluster slow downward move for most of this week ,From
the look of the chart and the present few days of slow updown move suggests one more pattern
formation a triangle which is shown in below chart
With expiry being over nifty can slowly start its technical move


Wednesday, November 27, 2013

IRB Infra Elliottwave analysis

Hi friends,
                  Lets check the wave structure of Irb infra ,August 2010 Irb started to fall
the entire fall can be resolved into wxy ,The below chart shows the wave labeling clearly.
The firstfall resolved into a falling wedge followed by a simple abc .Right now its trading
near a very crucial juncture near 100.Above 100 this stock is heading towards big targets.
Above 100 this has potential to double in a years time max.
Keep this stock on your radar ,I would reevaluate it regularly to check what it does over a
period of time.


Tuesday, November 26, 2013

Nifty 26th november

Hi friends,
                    Nifty managed to stay above 6060 and went on to test 6100+ ,So i have started to think about a alternate count too which says we have finished c near fridays low.
Validity of this count holds if any fall which comes stays above 6060.
In case we breach 6060 the original count of b up remains valid,With december approaching and modi factor being hot topic among punters volatility gonna increase only.
Fot today any rise above 6120 would be considered positive and target of 6200 gets opened whereas if 6060 gets breached we head towards 600-5970

Monday, November 25, 2013

Nifty 25th november

Hi friends,
                   As said in previous post below 6100 support was 6060-50 which was too breached in the due course of the day final support comes in range of 5960-70  below which we directly target 5830-5800 upmove if any would be strong only above 6060 .

Sunday, November 24, 2013

How i streamlined my trading

Hi friends,
                    Weekend post ,I would like to share my experience i gained during my last 8 years as a Trader and adviser.
To start off i was like any newbie who used to buy and sell on anybodies advise ,And enjoy the adrenaline rush when the trade used to be in favorable direction on the other side get sad on every loss trade .This happened for quite some time ,It had to stop someday ,Well i had to stop as my trading account was down to almost zero!!.

That day onwards ,I started to look for traders or advisers who used to give trade calls and it used to fascinate me few of them regularly hit the right traders ,So i got one thing straight this can be done.
I zeroed in on Elliott wave as a tool to build my trade setups ,Had countless battles on stockviews arguments etc on yahoo and google groups each battle saw me coming out with a new experience ,Slowly i started to get a hang of how waves were unfolding in market
I tried mastering few trading setups and kept looking for their reemergence ,Slowly got confident and  started to make some money on my own trades .I lost money only when i deviated from my trade setup or some last minute changes in trading plan ,These mistakes i still do human mind after all but i always look to minimize these hiccups.
Would further discuss on this if  you fellow traders would like to know more let me know your experiences as well it helps in building a trading mindset to run along with live market which is full of cacophonies..


Saturday, November 23, 2013

Jindal steel elliottwave analysis

Hi friends,
                    Looked at jindalsteel this could be forming a nice trade setup.Lets count waves from
180 levels It finished a abcde till 265 .
After that a time consuming b is evolving my expectation c of b is underway and the stock can fall towards 225-220 over some time after which it can rise towards 260,270.
Track this stock closely if the waves unfold the way i expect we have a nice trade on hands.

Friday, November 22, 2013

Nifty 22nd november

Hi friends,
                   We saw 6100 breaking and we tested 6065 with ease and further the wave gathered steam and we at one point of time tested sub 6000 levels ,We are nearing end of a wave after which  a relief rally ie b wave up should come some time from today lasting till monday or tuesday after which fall would continue..looking at 5960-5950 for bounce area..

Thursday, November 21, 2013

INDUSIND BANK Elliottwave analysis

Hi friends,
                   Let us look at indusind bank waves ,Its quite clear we saw 5 down from may top till end september and after that big abc is underway of which a is finished b is underway.

The b wave further again getting resolved into a abc of which ab is finished and c is underway the following chart is self explanatory looking for a fall till 360-350 ,Before things look upbeat for this stock.

Nifty 21st november

Hi friends ,
                     Nifty reacted to 61.8% retracement resistance and fell back it should test 6100 atleast and then make pattern for further move below 6100 potential
to test 6060 is high  would be following it closely as nifty is at a important juncture ,Which opens up nifty for 300 points move either side would track it closely.

Wednesday, November 20, 2013

Nifty midcap index midcaps buzzing

Hi friends,
                   off late we have seen select midcap stocks have started to buzz and irrespective of market movement they have been running ,Looking at the midcap index chart ,It shows a contracting move of  triangle in process ,Each wave has 3 waves so a classic triangle or a flat possibility arises.
Presently d wave of triangle is unfolding with first leg ie a leg of d almost getting over and b can start after which a rally towards 8500 should happen.Gist would be to buy select midcaps in dips for handsome gain for next month second half .


Nifty 20th november

Hi friends
                  Nifty reached to the 61.8%  of the fall retrace yesterday and was struggling to cross that looking for a reaction at this juncture and see if it looses steam or goes sideways ,Today would decide further move of nifty for next few days .
The bullish part its trading above the trendline .


Tuesday, November 19, 2013

>BPCL long term wave counts

Hi friends,
                  Let us see how elliottwave helps in constructing a trade set up and how on each time frame we can apply it.
Bpcl on long term charts look to be in C of big ABC
Now looking at the structure of C it looks to be making a ending diagonal with e leg running
ie last abc is on a is over b running after which c rally can start towards 450
look for a nice long trade in this script around 300-310 for a handsome gain of 20-30%.

>Bharti Airtel Elliottwave Analysis

Hi friends,
                  Bharti has been move in contracting channel for years together ,According to the present structure it can stretch max till 380-400 ie the d leg of C ,I would be looking to book longs and see for shorting opportunity near resistance ,The e leg can take this stock all the way to 250 levels ,From where a multi year bull market can start in Bharti airtel.
If the resistances are breached the expected fall may not materialize ,Keep the stock on your radar..


Friday, November 08, 2013

>Indiabull realestate technical analysis

Hi friends,
                     India bull realestate is forming a nice pattern lets see how it performs after this
I saw a falling wedge breakout in it and its retesting the breakout line again (58-56) then it can rise
towards 72-75 .

Risk is less in this trade idea as supports are nearing.