IDBI Trade setop

Hi friends,
                   A small short trade setup can emerge ,Below 67-66.50.
Let me put the chart to get the picture clear.

From the chart we can see
IDBI is in 5th of a hourly
impulse where 5th has
grown bigger in size price
wise and even timewise .
Now here 5th is making
a ending diagonal and its
almost complete and below
66.50 this stock can fall to
atleast 63 .


Trader can maintain a stoploss of 68 and plan this trade.
Lets see how stock performs in following days.
Regards
Rish

Nifty wave structure 29th april

Hi friends ,
                   Nifty continued with its slow drop.
I expect a bounce back today from lows  preferably 6750-6730
Waves suggest a wave is coming to end ,Let me put the chart.

Lets see how nifty reacts
to supports ,Overall i am of
the view ,Nifty is trying
abc correction and it should
finish a today so we should
see bounce back today .
Above 6820 ,I would be thinking
about alternate scenario.





Regards
Rish

Nifty Tests resistance

Hi friends,
                  Had posted in my last on nifty about resistance zone 6850-80
Nifty made a high at 6861 and reversed.
Lets see the nifty chart.

We can see from the chart
a expanding triangle like
shape had formed and it reversed from trendline resistance.
According to wave theory
a break below 6700 would
confirm c is finished and d
wave has started.
Track closely nifty if 6700
gives up c we can target 6600-


6580 ie d wave .This is short term top only according to me,Dips would be good to buy
stocks and quality midcap for sudden spurts.
Lets see how nifty performs in coming sessions.

Regards
Rish

Why learn Elliottwave (IDFC)

Hi friends,
                   Continuing with  my topic why learn Elliottwave ,Today i would show
example of IDFC,The stock which i tracked extensively,And was able to forecast its
move first loosely and later on with perfection.
IDFC TECHNICAL CHART This was dated 22nd jan,In which i forecast ed a small
rise followed by a fall towards 95 and then a rise towards 120+.
What happened in real small rise didnot come ,A sideways move happened few days
then a fall happened towards sub 90 levels and then a steep rally happened towards
128+(The actual high is 139 but that was a spike and was retraced fully intraday).

Then i posted this again few days before Banking license announcement
IDFC BANKING LICENSE HYPE ,In  this chart i forecasted a move towards 106+
buy was around 93.50 with stoploss at 92.80 and target was 106+ ,The stock went
much above that this was an ideal safe trade which i was able to generate because
i was able to see the bigger picture of this stock ,So i broke the stock into small parts and
saw lower time frame charts to figure out ideal trade.

Now again lets see the bigger picture

From weekly chart i see that
the stock did a WXY from
november 2010 top till
end august 2013 .A new upmove started from there ,This can be
a X wave or a new impulse of
a bigger degree which we can see
later on as the wave reaches
advance stages.



Let me put the structure of the rally from august 2013 lows.

We can see that stock did a abcde
from low of 76,Then stock corrected
and retraced towards 88 from a
high of 117.8 ,And again rose
in 5 wave up and started its correction,Now if this is an X wave it should not cross the slanting
channel trendline i made in
weekly chart ,Look at the
structure of fall from 139 closely


We would have a trade coming up here soon,Track this stock closely.

Regards
Rish

NASDAQ wave Analysis

Hi friends,
                   Nasdaq finished a triple zigzag correction
ie wxyxz ,Let me put the chart to see the triple zigzag .

The TOP made in early march
,The fall from there till mid april
took the shape of triple zigzag
which can be seen from the chart
how perfectly triple zigzag
correction took place.
The index is still moving below
trend line resistance ,We did
a or 1 wave from triple zigzag
low ,As long as this low holds
we are moving higher.

Lets see next few days move in Nasdaq i am confident of a long trade emerging here.

Regards
Rish

ICICI BANK wave structure

Hi friends,
                    Icici bank came up with results today
ICICI Bank's net profit rose 17.84% to Rs 9810.48 crore on 12.77% increase in total income to Rs 54606.02 crore in the year ended March 2014 (FY2014) over the year ended March 2013 (FY2013).
Net interest income increased 19% to Rs 16475 crore in FY2014 from Rs 13866 crore in FY2013. Net interest margin increased by 22 basis points from 3.11% in FY2013 to 3.33% in FY2014. Non-interest income increased by 25% to Rs 10428 crore in FY2014 from Rs 8346 crore in FY2013.
I had posted a chart a day back about the fall coming in ICICI BANK .
We have seen profit booking after the result .
Lets see the bigger picture in ICICI bank wave structure.

From the chart we can see that
er are in process of finishing
a 5 up .So in the bigger picture
we have 2 impulses joined by
abc .The 5th of this impulse
is abcde ,Let me expand the 5th
to get a better view ,What i mean
by this.Overall a fall towards 1220
1200 is on cards to finish d wave
of abcde.


Let me put hourly chart to get a better view of abcde

 We see 3 abc's joined together
now with d on i expect this
fall to target 1220-1200 before
e leg up unfolds.
This structure holds good as
long as c top is not breached
Overall the stock is resting after
steep run up and requires to
correct once it completes
this pattern


Lets see how the stock unfolds in coming weeks.

Apple computers Trade setup

Hi friends,
                   I some times post about US stocks last time i had posted about
Mcdonalds.My expectation was it shiould rally towards 100$ ,Yes the stock
rallied towards 100$.
Now i am posting Apple trade setup,Let me put the chart.

Its a classic zigzag correction
The stock has done ab leg and
right now ready to do c leg
,Trade idea would be to buy
this stock now and even in dips
as long as 510$ holds ,This
stock can target 550$.
Buy and wait patiently for
the target to be reached.



Lets see how the stock moves

Regards
Rish

HATHWAY CABLES Targetting 280

Hi friends,
                   In last one month midcap stocks have done wonders ,Many have moved 50%+
and few even have doubled ,This shows the extent of bull attack in midcaps.
I posted many stocks in midcaps and they really did good.
Today i am posting Hathway cables , one of the largest Cable TV services company of India ,  Established in 1995, Hathway provides quality Cable TV services in thirteen cities across the nation. With fiber optic backbone across its networks and state-of-the-art distribution set ups
Lets see the chart

 We can see the the stock was in
a range for more than a year
its trading inside a triangle
,I could figure out it has done
abcde where the e wave overshot
the lower trendline and it bounced
back and entered back in triangle
The stock looks set to touch 280
levels ,As long as this holds e low
ie 219 levels.


Investors can gain from this spurt towards 280 above 280 it confirms triangle breakout
and the target gets higher.Lets see how this stock performs.

ICICI BANK expiry view

Hi friends,
                   Looked at icici chart i see a couple of abc one after another
look at the following chart to understand what i meant.

We can see from the chart how
consecutive abc move is
unfolding in icici,This is usually
a time consuming move which
takes time with sudden moves
in between which confuses
trader ,Right now icici is
trading in c wave of abc
Let me put the chart
for the internal structure


of c wave to understand the c wave structure.

 My expectation is a small dip
and rise towards 1300+ and
then a drop towards 1280,1250
to finish wedge formation .
Lets see how icici moves
tomorrow overall the move
looks stretched so a dip would
be good for the upmove.




Regards
Rish
               

Nifty wave analysis

Hi friends,
                    In my last post nifty breaks 6700 ,I expected a retest of 6600 once 6700 was broken
But it reversed from 6665 and went on to make a new high again.
I have adjusted the count a bit to accommodate this rise from 6665.
Lets see the chart.

the chart is self explanatory
the yellow abc in which c
got truncated and after that
truncation we saw a big rally
which usually happens after
a truncation.The rally is
resolved into 12345 where
the 5th is going on accoding
to parallel channel the resistance
comes near 6850-80 levels


I was able to zero in on this count because midcap indices this was seen clearly but in Nifty it
was not clear ,Lets see how nifty performs tomorrow

How to Trade TCS after results

Hi friends,
                   TCS result was announced after market hours on Wednesday, 16 April 2014.
consolidated net profit rose 2.3% to Rs 5297 crore on 1.2% growth in revenue to Rs 21551
crore in Q4 March 2014 over Q3 December 2013.
Let us see the TCS chart to further see its movement after results.

Tcs from 14th jan top fell till
2013 20th march this move
finished as abc ,The relation
between a and c was a=c and
after that we saw a nice rally
and it did 2264 by 16th of april
now its at a important juncture.
Below 2200 the bearish scenario
takes center stage which suggests
a fall towards 2000 ,which means


the rally from 2013 low till 2264 finished an X wave .
A bullish alternative emerges above 2300 which would confirm abcde finished a leading diagonal
and now a small abc done above 2300 it can make a new high above what made on 14th jan.
So keep 2200 and 2300 on watch and plan accordingly.

Regards
Rish 

Technical charts discussed(Reliance capital & Dredge corp)

Hi friends,
                    I have been posting trade ideas for sometime now,I am sure who follows this
blog must be getting benefited.

Reliance Capital.This stock when i had posted was around 353 ,My expectation was a dip
was coming and that dip was supposed to be bought ,The stock dipped to 334 and then
blasted up all the way to 383 a handsome jump as i had expected.

Dredge corp.This stock i had categorically mentioned is ready for a big spurt and was a buy at current levels and in dips ,The stock w.as at 250 and it scaled to 317 in a very short time confirming
my chart reading true ,More would come in this stock after small consolidation keep an eye on this.

So overall you all would have seen Elliottwave give a good hold on the trade provided you find the
right stock ,Ofcourse you need to get hold on wave analysis first to find the right stock and then
plan a trade setup on it and sit with patience till the required setup emerges and them execute the
trade swifty.I have started posting these trades with charts so that traders get compelled to
learn Elliottwave because nothing else gives comfidence better than, When you see something which
was told in advance happened in future:).

Regards
Rish

Nifty breaks 6700

Hi friends,
                   In my last post had mentioned about the trendline support at 6700.
Nifty has breached 6700 eventually .
Lets see the latest structure of nifty move.

From the top the structure
looks corrective ,We did abc
and did a small triangle x
and again finished a small
impulse a .Now since 6700
is breached nifty looks set
to test 6600,On the upside
6730 would be the resistance
to watch out ,For tomorrow
a revound is expected as we
finished a small impulse down

At todays low ,So a pull back is expected to test resistance towards 6700-6730.
Lets see how nifty moves .
Regards
Rish

Nifty near 6700

Hi friends,
                   In my last post i had mentioned about a impulse seen in nifty

Had mentioned about profit booking range and nifty resisted to 6800-6830
range .
Lets see the present structure of nifty.

Nifty resting on channel
support ant fall below 6700
would invite more profit
booking.Below 6700 the
neat logical support comes
at 6600,Today midcaps
saw nice cut many midcaps
were 5-6% down .
Had mentioned about
vix breakout sometime


Back Vix breakout 
Vix has done 30+ already ,Peculiar thing nifty rose with vix for some time.
Lets see if volatility increases with vix being so high.

Regards
Rish 

Glaxo Trade setup

Hi friends,
                      A simple abc setup has emerged in Glaxo after massive fall
Let me put the chart.

Ideal trade would be to buy
stock in dips with stoploss
little below 2431 for a
target of 2700+.
Volumes have dried up in
stock which hints at reduced
selling pressure ,A small blip
up and buyers would over
power sellers.



Keep an eye on this stock in coming sessions.
Regards
Rish

NTPC The electric giant

Hi friends,
                    NTPC came up with its IPO in year 2004 and did good till year 2008
and scaled to highs of 290 where it finished abcde and started its abc correction
we are in this abc ciorrection for 6 years.
Let me put the wave chart.

From the chart we can see
the stock attempted a
double bottom at 112 levels
and been holding it.
Above 145 the stock would
breakout of down channel
of c wave and would confirm
c wave end and start of bull
market in NTPC .
So look for the break of 145


to buy into stock for higher levels ,In case the stock doesnot break 145 we can see another drift
towards 93-94 before it attempts breakout.
Keep this stock on radar ,This stock would be spearhead of next bull run  .

Why Learn Elliottwave (Hindoil exploration)

Hi friends,
                   Continuing with my topic Why learn Elliottwave ,Lets discuss a stock
Hindoil exploration ,Let me put the chart to explain my study further.

From weekly chart we can
see the stock has finished
5up or abcde by 2009 end.
And after that we saw a big
correction in it wxy.
It finished near 22 levels
in august 2013.The stock
started uptrend and right
now trading at 52.80,Its


nearing trendline resistance 61.40 ,Once this resistance is taken out ,The confidence in this
uptrend would be high.Above 61.40 the stock has potential to double  and should
target new high.
This assumption holds true if we hold 22 .
Lets see how this stock performs keep an eye on this.
Regards
Rish

Nifty Shows impulse

Hi friends,
                   Nifty after a small consolidated correction again resumed
uptrend.
Lets see the present structure.

The impulse is visible
clearly from parallel
channel we get resistance
in range 6800-6830
above that 6860-6890.
This is profit booking range
for nifty ,Concentrate on
getting good level to book
rather than catching new
trades.


Lets see how nifty moves .

Regards
Rish 

Nifty Consolidates

Hi friends,
                  Nifty starts to consolidate at highs and takes a breather
still holding 6600.
Lets look at the structure

This would show more strength
above 6725,We could have finished
A wave correction,Above 6725
chances of this correction over would be come bright ,Overall
bigger picture remains fine
break of 6600 would be first
sign of weakness.
Midcaps continue to perform
though the number has reduced.


Lets see how nifty behaves in coming sessions.

Regards
Rish 

Why learn Elliottwave (DREDGE CORP)

Hi friends,
                  Continuing with my Why learn Elliottwave ,Topic
Today i am showing an example where the stock is about to show big breakout
of the range and how an elliottcian tries to catch it before it starts to explode.
Let me put the example stock chart Dredge corporation.

The assumption is,The stock
has finished a big ABC
correction and now looking
to break out of the down
channel  ,This stock has
potential to scale to 400
in very short span,Look
for volumes they are building
up ,If this is 3rd wabe brust
the volumes would really go
ten fold.

Keep an eye on this stock ,Lets see how this stock performs.

Regards
Rish

Technical charts we discussed (Tataglobal and Raymond)

Hi friends,
                   I had given Tataglobal trade idea some time back
this stock performed exactly the way it was expected.
It touched 155 and now retracing a bit.

I had discussed about Raymond trade idea This stock too followed
the pattern perfectly and did 300+ as was expected.

 I had discussed Unitech trade idea this stock trade is still active
the stock has started to go up.


Overall we have seen waves are working good in this market ,Only thing
we need to wait for the right setup to emerge and then jump in to catch
that trade.
A important point here is we should learn to have patience so that we can avoid
shallow trade setups ,So that we don't end up missing the good trade setups.
Learning Wave principle definitely gives edge to traders.

Regards
Rish 

Banknifty wave counts

Hi friends,
                     In my last post i had shown the bigger picture of Banknifty .
RBI policy was a non event ,Still banknifty started a small correction.
Let me show the chart.

From the chart we can see
Banknifty has done WX
and right now in Y
I expect banknifty to
do 12400 over next few days
as long as 12750 is held.
Overall a slow time consuming
correction which should set the
base for next rise.



Lets see how Banknifty moves from here.

Regards
Rish

Nifty 3rd april

Hi friends,
                     Nifty near 6720  took a small breather nifty  and again went up
it didnot go below 6660 to show some weakness.
Lets see the present picture.

The wave stretch continues
the trendline support comes
at 6720-6700 till we hold that
range nifty can try to inch up
below that range only profit
booking would be seen.
Overall these days its midcap
season they are catching up
with their largecap counterparts

Lets see how nifty moves today which can help us to acertain the further move.

Regards
Rish

Reliance capital Target

Hi friends,
                  Looking at reliance capital chart this stock
has potential to do 380 and above that 427.
Lets look at the chart.

The chart is well labeled
we had a diagonal move
abcde followed by an
abc correction and now
again the stock has started
to impulse up.This stock is a
buy in dips as long as 317
holds targets would be
380 and above that 427
respectively.


Lets see how stock moves in coming time keep an eye on this this has a history
of moving very fast and finish targets soon.

Regards
Rish 

Nifty after RBI policy

Hi friends,
                     In my last post Nifty had posted about 6700-6720
would be an important level to watch from where nifty can
take a breather.
Lets see the chart now.

From the chart we can see
nifty is hovering in range
after scaling 6720+.
Now below 6660 nifty
can turn bit weak and
target 6600-6580.
Lets see what nifty does
in next few days.
RBI policy turned a
non event we saw some


profit booking in banks thats it, Broader market is un affected

Regards
Rish