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.


Unknown said...

this looks quite credible...but it has a strong correlation with nifty....I dont see nifty breaking out, what do you think?

Rish said...

UNknown i think this market is presently unfolding in complex waves ,Usually set of sectors only move in one direction other move otherway or remain subdued ,I would say sector rotation is underway with nifty overall after dec first weekend i think timewise nifty should show some strength.. how much we would see:)

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