Sunday, April 30, 2017

>PSU BANK Bank of Baroda Elliottwave

Hi friends,
                   PSU banks are in limelight ,They have been rising for some time though the rises have not been consistent still they are making higher highs and higher lows.I had posted about ORIENT BANK ,The stock is still rising.This post i have made chart of Bank of Baroda let me post the chart.
As we can see from the chart ever since 2016 start the waves have been quite overlapped,I have labeled them,Right now in short term 200,210 is stiff resistance.
Overall the stock is trading above red slanting trendline resistance,I have drawn the expected move with dotted green ,Lets see how stock moves in next few weeks.

Tuesday, April 25, 2017

>Nifty update

Hi friends ,
                    In the last post Nifty slow correction had 9050,9000 as supports and a move above 9160 should add strength to the move .Nifty made a low of 9070 and crossed 9160 showed strength and finally have come out of slow correcting channel.
Support now for nifty comes at 9250-40 range and resistance range is 9350-70, If we get a dip  near 9250-40 nifty can move up to 9350-70  provided 9200 holds.Lets see how nifty moves .

Wednesday, April 19, 2017

>Nifty slow correction

Hi Friends,
                      Nifty probably witnessing longest correction pricewise as well as timewise since 7900 lows,Lets see the internal wave structure of correction.

We can count clearly 2 abc's joined by x wave also we have seen another x wave and the wave is continueing.Nifty is maintaining a slow slanting channel nifty need to take out 9160 spot now to show strength in index,Abreak of 9200 would be considered as breakout from this slow correction.On the downside 9050,9000 are supports ,We still have 2 more trading days left for the week lets see how the price moves .The broader market is moving unaffected by nifty move ,Specially midcaps and small cap stocks .I think till nifty maintains 9000 +-20 these moves can continue.

Sunday, April 16, 2017

>Tech mahindra nearing support

Hi friends,
                  IT stocks were lackluster all this while ,After infy results IT stocks saw dump.Slowly many stoxks reaching support one such stock is Tech mahindra lets see the elliottwave pattern of tech mahindra.

Its a complex correction having a zigzag followed by any 3 and a triangle ,Right now e wave of triangle is on 400 is strong support Though Trump effect has shaken the sector a bit,Short term can be bad for stock but on weekly chart the chart looks in accumulation mode.Keep this stock on radar of you are thinking about bright future of IT sector.

Saturday, April 15, 2017

>PSU Bank Orient bank

Hi friends,
                 Weekend chart Orient bank a psu bank did a impulse up from year 1999 to late 2010.
Commenced correcting impusive rise from 2011 to early 2016 ,And from there a labored impulse like structure .Let me put the chart.
The chart is well labeled with elliottwave counts.The correction has unfolded in  wxy  ,Right now 160 is stiff resistance for the stock,Waing for a good tradable pattern in short term since big pattern looks clear track this stock closely.

Tuesday, April 11, 2017

>Ambuja cement

Hi friends,
                   Ambuja cement is an interesting pattern,Lets look at the chart to get a clear picture.

The chart is labeled with waves this correction of ABC looks to be a flat correction which suggests lot of upside still pending for the stock ,As long as 220 holds the stock can do 270,280 .ACC has got quite similar pattern like ambuja two different companies of same sector do watch ACC movement too As the charts are same movement should be similar too.

Monday, April 10, 2017

>MCDOWELL after MP liquor ban

Hi friends,
                    I tracked this stock for sometime now,I had posted about it Mcdowell waves and 
had mentioned about a bounce coming in it near 2100 we saw a bounce which took stock to 2200+ .
The stock was spending time near 2200 ,Thats when the supreme court ban on highway liquor shops came and the stock saw a deep cut ,Further the stock was trying to absorb the damage near the support of 2000 ,And today a big news came from MP  All Liquor Shops In Madhya Pradesh To Be Shut down In Phases, Says Chief Minister.The stock fell and broke support of 2000.Let me post the chart.

The stock looks fragile now lot of news flow has damaged the structure last big support near 1800-1780 .For now 2000 is a stiff resistance .I would get interested again in this stock above 2000 or near 1800.At times news play havoc.

Wednesday, April 05, 2017


Hi friends,
                     Escorts have interesting chart which is right now at important fibonacci levels.
Let me post the chart to get a clear picture .
The move from 2013 looks impulsive had a nice 2 year rally to make 1st wave and had correction to finish 2nd wave correction.From mid of 2015 3rd wave started we can see 5 waves clearly in 3rd wave .This 3rd wave move is satisfying 3=(1.61)1 ,Look for weakness in the stock in coming weeks 
Overall still no shorting pattern seen in it.Keep this stock on radar.

Tuesday, April 04, 2017


Hi friends,
                  We have seen Pharma companies have not performed good in last 2 years either they have fallen or have gone sideways .Lets look at the pharma sector index which includes .
Aurobindo Pharma Ltd.
Cadila Healthcare Ltd.
Cipla Ltd.
Divi's Laboratories Ltd.
Dr. Reddy's Laboratories Ltd.
Glaxosmithkline Pharmaceuticals Ltd.
Glenmark Pharmaceuticals Ltd.
Lupin Ltd.
Piramal Enterprises Ltd.
Sun Pharmaceutical Industries Ltd.
Barring one or two rest of all are near there 52 weeks low which shows how the index has been doing. let me post the index chart .
The index is moving in a downward channel for last 2 years and has not been able to break the resistance .Overall still the index is not giving any bullish signs I have been tracking LUPIN quite closely and have posted on it Lupin wave structure  .Lastly would say i think there is still some time before pharma gets back in shape and gets investors attention.

Monday, April 03, 2017

>Coal India target

Hi friends,
                   Coal india looks good to recover recent fall it witnessed from 330 levels.
The stock once trades above 300 can easily achive 330 levels .

The wave pattern of coalindia is given in above chart overall as long as 288 holds in the stock uptrend looks safe.

Saturday, April 01, 2017

>Hinduniliver elliottwave structure

Hi friends,
                    A weekend post on waves beauty Hinduniliver,The chart has got so clear elliottwave counts,Lets unfold the waves ,Posting monthly log chart of Hinduniliver.

From the above chart we can see a big impulse move from year 2004.The sky blue shows the bigger impulse of which 123 is done and 4th wave is underway,The white one shows the big 3rd wave counts and finally yellow one shows 3rd of 3rd counts.In stock trading we need to find a tradable setup.Lets look at the pattern inside converging trendlines.
The above chart shows a triangle move in 4th wave right now in d wave and should fall back for e wave and finish off triangle and head for 5th wave rally which can make stock to rally 25-30% over a period of time the breakout would be above 955-60 levels track this stock though this may take some time good for learners to look out for the stock how it moves from here on.