Tuesday, December 31, 2013

Nifty fractal

Hi friends,
                   Another example that fractals appear on all time frames.
Todays intraday move resembles the daily move of nifty from 5100+

have a look yourself.See how similar are both moves these fractals keep appearing we only need
an eye to look for them ofcourse they tell a lot for the future move too it gives hints.


Monday, December 30, 2013

India bull realestate technical chart

Hi friends,
                   Revisiting IBR chart ,From october onwards the waves are quite clear.
We had a impulse followed by a abc correction and then a rising wedge or ending diagonal.
Of late this stock have been range bound in 80-50 .
In very short term as long as 66 is protected this stock has potential to hit back 80.
If 66 is breached the structure suggests distortion.
Overall after few weeks can try to project long term view for this stock
presently at a important juncture so i am keen to update this again and again.


Sunday, December 29, 2013

TCS technical chart

Hi friends,
                   Today would discuss TCS chart a IT heavy weight which is in secular bull
mode since 2009 .
I wanted to show how parallel channel works brilliantly at times,You can see how channel
top regularly successfully resisted 3 times ,This is most simple but usually most reliable
support and resistance tool.
 Technically looking at chart it brokeout from a small triangle now as long as it holds 200-1980
a new high to 2300 is possible even more can look at structure once it reaches there.


Friday, December 27, 2013

Yes bank technical chart

Hi friends,
                    Looking at yesbank hourly chart it shows a overlaped abcde
structure which suggests a final rise towards 385-390 before abcde finishes.
Traders who wants to trade this should keep stoploss at 369.
 Trade wisely.


Wednesday, December 25, 2013

Sriram transport technical chart

Hi friends,
                   Today i am going to discuss chart of Sriram transport .
A very clear wave chart we can easily count an impulse up from 2011 dec end.
Impulse finished by may 2013 .
We had a sharp reaction after 5 up impulse which retraced more than 80% of the
impulse,And smart recovery after that which is resolved into 1 up abc ,now a 3rd wave rise
only thing missing in this count for confirmation is volumes to confirm 3rdwave on,Lets
see in the coming days if volumes get into the stock.
According to this count this stock is in a strong uptrend and every dip is a buy as long as
550 holds.
This stock has potential to rise to new high soon ie 850+,Buy all dips in installments
to gain maximum,Lets see how stock performs.

Friday, December 20, 2013

nifty chart 20th dec

Hi friends,
                     Iam expecting the fall from yesterday to be forming a b wave
if 6125 holds i expect the following action given in chart .


Thursday, December 19, 2013

Reliance capital chart

Hi friends,
                   Revisiting old post on reliance capital,Iexpected max 410-420 and a fall in that
see the old post Reliance capital .
What happened we saw stock went on to make a top at 407+ and fell sharply after that presently
trading at 343+.
Technically as had told in old post abcde was anticipated and same happened it did the e leg
and fell back ,Now 333 range is a good support looking for a bounce back from these levels
Sit back and see the reaction of price to these levels to decide further move.

Nifty 19th december

Hi friends,
                   A bounce was expected from 6100  levels it bounced from 6125 levels its
understandable ,The levels to watch on upside would be 6237,6271and 6305.
So trendline support held so the squeeze continues,This squeeze has contracted the price considerably.

Wednesday, December 18, 2013

Nifty 18th december

Hi friends,
                   Nifty is falling slowly for last 6 trading sessions.Strong support zone comes at 6100-6080
region ,If its held looking for a upmove else below this range fall can escalate,I m looking for a hold
of this range.

Friday, December 13, 2013

Nifty chart 13th december

Hi friends,
                       Eventually the gap got filled and nifty closed below that next support levels
come at 6200-6190 levels,From where a rise is expected towards 6300-6350 ,Lets see how nifty
reacts to this support zone.
So expecting supports of 6200-6190 to hold for now,Lets see what nifty does.


Thursday, December 12, 2013

Nifty chart 12th december

Hi friends,
                  Nifty continued to fall in the same slow fashion,But managed to hold the
gap and attempted a good rally intraday ,Though it breached the 6300 level which
failed the white impulse see old post nifty 
 So since the gap is still held and the trendline is holding too need to see if nifty manages to hold gap today too.


Wednesday, December 11, 2013

Silver technical chart

Hi friends,
                  Looking at short term chart of silver its interesting.
 We had a leading diagonal 1 complex 2 followed by simple correction in 4th to finish a
impulse .Then we has a complex time consuming abc .
The abc correction retraced almost 85% of total rise at 18.88$.
I expect a rally towards 21.55$ minimum ir the trend line resistance,After which a small
retracement can happen,Overall i think a rally towards 25$ has started with in between small hiccups.The following chart shows my Elliott count.
This count stands wrong if silver drops below 18.88 $.Lets see how silver moves in coming days.


Nifty chart 11th december

Hi friends,
                   Nifty hovered in that range only today if 6300 is breached white impulse would
fail,Rest remains same ,Characteristic of this rally has been sudden gaps ups after few days of
So till 6300 is saved the extended impulsive move would still be an active alternative count.Overall
stocks are retracing from their resistances.


Tuesday, December 10, 2013

Nifty chart 10th december

Hi friends,
                   4 states election results have come ,now nifty can move its technical move any distortion
happened by news flow should subside in few days max.The following chart is self explanatory..
The impulsive 12,12 suggests big bull case for that we need to hold the gap which
was created yesterday.


Saturday, December 07, 2013

Sbi stock analysis

Hi friends,
                  Looking at the fall structure of Sbi from 2010 dec highs
Stock did a wxy till dec 2011,Then did a abc up for the full next year till dec 2012.
And has done a abc or 123 till 2013 September lows subject to 1970 holds(incase of 123)
Looking at a rally towards 1970-2000 minimum and then see further structure.Long traders should
look to book profit there.
The upward structure from september lows looks like a abcde up need to be watch full near 1970-2000,Till then all dips are buys in this stock.


Friday, December 06, 2013

Nifty chart 6th december

Hi friends,
                 The chart is self explanatory ,yellow suggests lower top,Its 5 down count
whereas red one is complex corrective up count which suggests a new high above yesterday.
Slowly the election fever is getting cured .

Thursday, December 05, 2013

Nifty long term analysis

Hi friends,
                   Rechecking the big picture of nifty,Nifty has been sideways uppish for almost 3 months
now sideways up down move with continuous falling volumes.Meanwhile the badly battered midcaps rising back,Not an easy market to understand continuous sector rotation.IT has been sideways ,Pharma falling along with FMCG, Banking is been volatile with in between fast up downs,Out of the
heavy weights LT has been on a roll it did 700-1080in matter of 3 months.Reliance has been sideways with in triangle ,ITC has been falling a slow fall along with HUL.
Looking at nifty i am of the opinion we are forming ascending broadening wedge ,With each
leg getting broader and broader towards upside.
The above chart shows my expectation ,If you see the whole broadening pattern has developed on falling volume.We test 6400-6500 and drop back to make a upper
bottom somewhere near 5500-5600 and rise towards 6800-7000.My reading says we can have a fake breakout and then reverse back in broadening channel to test lower trend line and reverse back to make a new high .
I Track Hangseng closely and its too making the same pattern lets see the chart of hand seng
Quite similar to nifty structure,Overall we should hit upper trendline resitance by january 2014
till then buy all dips for gains ,Be watch full January onwards.


Nifty 5th december

Hi friends,
                  As i mentioned in my yesterday intraday post nifty looked to have made abcde in the correction  from 6228  till yesterday low ie 6150 ,Which i posed before market close nifty 4th dec intra ,Lets look closely how i was able to get my count adjusted accordingly  when i saw yesterday
intraday move .
So market didgive a hint about whats coming today.I have adjusted my count and this rise could be 5th up or e up and we can go to 6300 ie1=5 in due course

Wednesday, December 04, 2013

Nifty intraday 4th december

Hi friends,
                   As expected nifty started corrected ,But looking at the structure its looking its making a abcde from top don't go heavy with positions.Its evenly poised for tomorrow ,Supports are not broken yet .
Don't go home with naked shorts.

Nifty 4th december

Hi friends,
                      Nifty was sideways to down most of the day yesterday ,It didnot give a close above 6212 ,Now a retest of 6150 looks eminent below which the fall can stretch towards 6100 ,Where we
have to look for a pull back.
Chart remains same as yesterdays Nifty 3rd december

Tuesday, December 03, 2013

Nifty 3rd december

Hi friends.
                   As mentioned nifty went on to test 6212 zone and hovered there full day,Now if we dont
close above 6212 and continue rise i would reckon we will be making another abc as shown in the
chart below ,I am looking at chart and trying to project the further move,Not like most analysts or
fund managers who have become political analysts and giving their targets.Let us see how news
breaks pattern.One thing which looks certain is nifty move from last 2 weeks is like a musical chair
game few rises few falls so ultimately its maintaining respective crucial levels .


Monday, December 02, 2013

Reliance capital elliottwave analysis..

Hi friends,
                  Reliance capital is been in a range for many months,Its making abcde up with e leg on right now which can target 400-420 levels
Now this abcde can be finishing a C of previous ABC or this could be a leading diagonal ,
Leading diagonal would be a bullish case in which after finishing abcde a abc correction happens finishing which the stock can take off and breach 420 levels which would be a breakout of multi year
slanting trendline resistance,At present scenario look to book around 400-420 levels and reenter at lower levels,Would post again once we complete more wave structure.

Nifty 2nd november

Hi friends,
                  Nifty went past 6156 and remained above that full day ,Next target above that comes at 6212 ,Till that's maintained it looks to be corrective in nature,I would watch the move of next 2 days to ascertain the structure underway .
overall select midcaps continue to outperform irrespective of nifty movement as its range bound.
Stockwise HUL looks attractive out of large caps along with IT majors.