Wednesday, December 05, 2018

Tatasteel wave analysis

Tatasteel offlate a paradise for traders both side violent moves.
I think a good trade setup is emerging in Tatasteel according to wave principles.

Lets see the chart 

The above chart is self explanatory ,We are nearing the end of 5th of c probably.
Which coincides with good support of 500-490 range ,If this range is held expect a very 
good bunce in the stock ,More on this as the chart matures ,Most metals have same structure.

Wednesday, November 21, 2018

Yesbank wave structure

Yesbank has been in news for all wrong reasons.
The stock chart range got extended by big price moves
slowly the price expansion has started to squeeze in let 
me post chart scenarios we have.

This suggests a fall towards 180-170 levels and reverse up to make a lower top again below 230.A triangular squeeze on.

This suggests a fall towards 180-170 levels and reverse up to make a lower top again below 230.A triangular squeeze on.This further shows a posibility of breaking the lows of (168-164),We would see that when chart matures ,We would get hints.
If we go above 230 levels these counts get negated.

Gist:-  both scenarios suggest if a fall comes towards 180-170 it a good buy with lows sl.

Friday, November 16, 2018

Nifty wave count

Nifty is keeping on toes crucial levels approching.
In my last post Nifty wave count .I had anticipated the rally from 
10336 to 10710 as 4th wave rally which turned out to be true.
After that we had a new low 5th wave which terminated at 10004.5.

Let us see the possible counts we have for now.

The popular count is we have a 5 down followed by abc up 
So in this case A (5 down) done ,B up on. The crucial resistance range 
10750-10820 the GAP nifty created in its 3rd wave fall.If thats taken out 
we have to have a bull count ready!!!!.

Let me post the chart.

The other possible scenario we have is running flat correction,Which says the correction is over 
and we head higher.Let me post that chart.

A running flat is a 335 correction where B goes above A high and C remains with in the start of B wave.This is interesting count ,I would look for more hints to zero in on the preferred count !!

Tuesday, November 13, 2018

ICICIPRU Wave analysis

Interesting chart pattern icici prudential.
Lets look at the chart.

The chart is well labled ,As long as 340 holds the stock has potential to hit 380-85.
Lets see how stock performs.

Monday, November 05, 2018

PSU Banks wave analysis

PSU banks have been in downward channel for almost 8-9 years now.
We have witnessed many intermittent rallies inbetween followed by prolonged selling.
These stocks now looks nearing bottom or few would have already bottomed.
Lets look at few of the stocks .

orient bank 

The stock did 5 up and now inprocess of completing abc correction the stock looks to have almost completed its correction ,May stretch bit more ,I reckon this is good stock to buy for investment this diwali :).Buy and hold for 2 years.

union bank

The stock  has corrected in parallel channel and looks to be in process of bottoming out ,Levels of 65-50 looks quite juicy to jump in and buy .Can hold on for atleast a year to reap handsome gains.


The stock witnessed massive beating post neerav modi fiasco. Even after such beating the stock is holding on to supports ,Also maintained parallel channel ,The stock has strong support near 58-55 levels buy and hold for atleast a year to gain handsome gains.

Bank of India

This stock again maintaining parallel channel beautifully , 70-60 levels great to accumulate and hold on for atleast 1,2 years to gain handsome returns.

please see all these are investment picks ,So be carefull if someone plans to trade .Happy diwali to all readers .:)

Friday, October 26, 2018

Nifty wave count

Nifty indeed looked to me as 4th was on and till the gap at 10800 remained open 
it was giving confidence .My last post nifty wave count

Lets see the present structure .

Looks to me we are in 5th of the impulse down which started from all time high,The fall looks quite laboured as we are drifting down.Positive divergence is visible in RSI.Monday would be a interesting day.Any fall to 9980 or below looks to me could attract lot of buying .Afalling wedge like structure is visible in lower tf .

Thursday, October 18, 2018

nifty wave count

Hi friends,

In last post had anticipated 5th of 3rd happening. Nifty wave count .
Nifty finished 5th of 3rd wave and started 4th up.Lets see the present structure.

Lets see this anticipated 4th up closely.

We have done abc at yesterdays top,This fall could be a d wave fall ,Need 1,2 days price move to further anticipated the structure overall till the gap 10800 remains open ,I am more inclined towards a 4th wave rather than the popular notion of B up. Nifty should clear things up in next few days i think:).Till then play light volatility is on rise again.

Thursday, October 11, 2018

Ibventures elliottwave count

Offlate the darling of bulls
Ibventure has been in continuous lower circuits.
Lets look at its wave pattern .The stock has risen nonstop
from 20 levels.

The stock looks to have completed a big 3rd wave near 800 levels.
And now falling in 4th wave .Stock has got clear waves on chart ,Though the fib extensions are not matching quite understandable looking at the velocity of rise.Overall i doubt the stock going below 250.Let the pattern emerge.For now it looks the mighty 3rd wave is done for now in this stock.

Nifty wave count

Nifty impulsing down.
Today second gapdown characteristic of 3rd wave.

5th of 3rd from yesterday high..

Wednesday, September 19, 2018

Nifty wave count

Nifty volatility has increased in sept month ,I had posted 
nifty wave count . Its turning out to be abcde .Lets see the current 

Cluster of support in range 11180-70,Also a old gap fill :) lets see how nifty behaves .Expecting bounce in any fresh panic in nifty .Lets see how nifty behaves!!.

Monday, September 17, 2018

Nifty elliott wave counts

Nifty volatility has increased offlate ,Moves have been big.
I had posted nifty elliott wave counts it turned out to be 2nd
case with stretched c down below 11300 and went till 11250.
Lets see the current chart situation.

This is abcde move which has potential of a new low below 11250.Today nifty filled the gap 
it created on friday.Lets see the other bearish to sideways count.

This is sideways count with nifty saving 11250 and heading higher than 11500,At this point both are evenly poised lets see how nifty travels distance this week.

Thursday, September 13, 2018

Motherson sumi elliott wave analysis

I had written about this stock a month back ,Look at
The wave turned out to be a X wave as was discussed in old post.

We can see from the chart it tested upper trendline and fell back and is now dragging spending time .Overall a good buy above 320 or we buy near 260 ,Good parallel channel correction on.Keep this stock on radar.

Monday, September 10, 2018

Nifty elliott wave counts

Nifty at crossroad which way its gonna tilt,
Lets see possibilities we have.

We have 2 possibilities here first one a impulse down from top happening and we finished 4th at todays top.

This is more bearish case ,Impulse down usually suggests more pain after some pullback.

Lets see the other possibility.

This is corrective count which suggests once this correction gets over we head higher.This is wxy correction abcs connected by x wave ,Lets see which count plays out in coming days.

Sunday, September 09, 2018

Maruti elliott wave analysis

I was excited to see electric vehicle with Maruti suzuki logo on it in 
global mobility summit ,A company needs to be with future technology,
Maruti has come of ages which is seen by the wonderful rally seen in stock 
price across many years.
Maruti the pattern has been evolving and the wave count is settling 
accordingly. I had written about it in july Maruti elliott wave analysis.
We did get a rally above 9230 ,The stock rallied till 9468 and then broke
back and went below 9230.Lets see the chart pattern now.

The above chart shows the rally till 9468 turned out to be b wave of abc fall and now c wave fall underway ,The stock has good support range in 8630-8540 range ,If stock goes below these levels,The wave count stands negated.

Friday, September 07, 2018

hdfc elliott wave analysis

HDFC has corrected from 2050+ to 1880.
Lets see the chart pattern how the waves are unfolding.

Lot of abc's in hdfc .The structure suggests a move towards 1960+ atleast as long as 1905 holds,Lets see how the stock behaves.

Thursday, September 06, 2018

Indigo elliott wave analysis

Aviation sector got badly beaten in in last 3 months.
I had written about Jetairways elliott wave analysis.
The stock has fallen alot.Lets check the other stock from the sector

The stock did a leading diagonal and brokedown .The stock fell from 1500 levels to 870 levels in matter of 3 months.The stock has good support in 850-830 levels and is good level to accumulate.The stock can rally back to 1000+,A close below 800 is the risk to this wave structure.

Wednesday, September 05, 2018

Hdfc bank elliott wave analysis

Hdfc bank has been falling for quite some time now .
Last time i wrote about hdfc bank elliott wave analysis
It rallied  but fell short of target.
Lets see the wave structure now.

The stock looks to be nearing  completion of wxyxz  .The wave structure can be seen in above chart The levels to watch are 2030-2010 range.Expecting a good bounce from this range.Lets see how the stock behaves in coming week.

Sunday, September 02, 2018

Granules elliott wave analysis

This pharma stocks has got good wave structure.
Lets see monthly wave structure,The stock witnessed 
stretched 3rd wave lets see the chart.

From monthly chart we can count clear 1234 on price chart with clear 5 waves in 3rd wave ,The price has done good consolidation in 4th wave and looks set to hit 150.Lets see the 4th wave closely.

The stock did wxy correction in 4th wave ,The stock has potential for 150. Few closes above 150 would set tone for all time high for stock for 5th wave lets see how stock performs in coming weeks.

Friday, August 31, 2018

Ramky infrastructure elliott wave analysis

I had written about this stock in jan Ramky infra elliott wave analysis.
Though the stock didnot perform the way it was expected that time.
The longer term wave structure remained intact.Lets see the present chart.

For the overall wave structure look the old post given the link above.
The white labeled wave is in progress expecting 300+ in this stock ,Long term iam expecting bigger targets in this as green colour wave is still under process ,Overall the structure looks bullish and one can hold on for bigger targets in coming months.The stock is still in ASM list so circuit limit is 5% also margin required is 100% so only genuine buyers :) mostly. Stock is clocking good delivery for quite some time.Keep an eye.

Thursday, August 30, 2018

Tech mahindra elliott wave analysis

I had told still steam left for upside ,Continuing the same lets see tech mah

This chart similar to cnxit the stock is in 5th up 3rd wave high was 752 .Any close above 752 stock can shoot towards 800.This is a good buy either above 752 or in dips .
For a dip buy 715-720 is a good level.

Wednesday, August 29, 2018

IGL elliott wave analysis

IGL looks good on chart it finished a parallel channel correction
broke above it and retraced.The wave analysis shows a good trade
setup lets see the chart.

In any dip the stock can be bought with stoploss of 270 ,If thats taken out the wave structure changes. Lets see how the chart behaves.

Tuesday, August 28, 2018

cnxit elliott wave analysis

IT stocks have been rallying for some time now .
They have a considerable share in nifty rally ,Top 10
heavyweights have 2 IT stocks TCS and INFY. These two 
among themselves hold almost ~13% in nifty.Look at nifty weightage here.
Lets look at the cnxit chart.

The monthly chart of CNXIT shows clear 5 up impulse with 5th up in progress.Most of IT stocks are similar to the chart shape of CNXIT.
Would analyse important IT stocks in further posts.Looking at parallel channel the logical resistance comes at 17000.
With usdinr hitting new highs CNXIT has still got good times .I would analyse individual stocks later for now bulls are very much alive and kicking in IT index. Enjoy the rally till it lasts :).

Monday, August 27, 2018

FII Selling in India.

A popular notion among traders FIIs drive Indian markets.
Is it true? Year 2007-2009 this correlation was quite correct.
Offlate this is not happening .

Year 2018  till aug 27th nifty has gone up by ~11% and FIIs have been net sellers for the year.Let me put the figures.

Fii is net seller 23k crs in equity still nifty managed to scale up by ~11% .Slowly this dependence is reducing domestic money is getting bigger .No wonder MF inflows are creating records day by day.Still the equity penetration among indians is way less compared to western counterparts long way to go.

Sunday, August 26, 2018

Glenmark elliottwave analysis

I had written about glenmark when the deep correction was on.
Glenmark elliottwave analysis in this post i had projected targets for
downmove bottom.

i was of the opinion the bottom could be in range 530-520  the stock made a low of 500 and reversed and now reading at 660+.A good 150+ move .The stock has potential to do 700 and then 780-800 in coming weeks.This upmove can be a d wave up or a new impulse up which can be confirmed as the upmove matures.Many pharma stocks have shown upmove we have seen in past many pharma rallies got fizzled but this rally looks promising as the wave looks over track all pharma stocks in dips can be bought rather on breakouts.

Thursday, August 23, 2018

Why nifty not falling?

Of late social media is discussing overtime why nifty not falling.
Ofcouse chartist would say still resistance not reached ,Though a
fundamental guy would day PE is above 28 still market holding.
lets look at the following detail.

From above table we can see top 10 nifty stocks on weighted average .Reliance is almost 10% and this single super heavyweight has risen by 29% in last two month till today .Only 2 stocks in top 10 are giving negative return in last 2 months .These top 10 stocks hold 51.16% .So nifty is so dependent on these as far as up down move is concerned .So keep as eye on the biggest mover Reliance for hints.

Tuesday, August 21, 2018

Maruti wave analysis

Maruti is still consolidating and the pattern is evolving.
In my last post Maruti wave analysis .I had posted about 
the level of 8900 which has still not come .

The stock has still potential for 8900 which is 61.8% retrace of the 5 up impulse .Also the lower trendline of wedge.If the expected fall eludes we have a option of buying above 9230.
the level above break of wedge .Lets see how the stock moves further.The pattern is in advanced stage make or break soon. 

Monday, August 20, 2018

Federal bank wave analysis

I had posted about fedbank in old post.
Federal bank wave analysis ,Lets see present 

The stock trading in X wave ,Got a good dump today ,Its most probably due to more business in kerala and due to kerala floods the business would get affected .Markets mostly reacts to such events .On chart it looks if 75 is held the stock can rise back to 90 levels and further towards 95,98.Lets see how the stock reacts in coming days.

Sunday, August 19, 2018

Metal index wave analysis

The metal index is continuing its upward journey 
The price has still got distance to travel.
The index can target 3600 in any case.The index can fall after 3600
if its x wave.We can confirm it later as of now the index has potential to target 3600.Individual metal stocks like hindalco jindal steel have chart structure quite similar to metal index .overall it looks still steam left in metals to go further up.

Midcap index wave analysis

Midcap index has not performed well this year.
Nifty has crossed all time high multiple times 
but midcap index has not even touched previou
highs yet.
Midcap index has grossly underperformed nifty 
for now.Lets see the wave pattern of midcap index .

Midcap index had made a high of 21840 and made a low of 17700 .A 19% correction from top.Friday it closed at 19443 so it has recovered back. Wavewise this has done abc with clear internal waves.
Its near to 200dma ie 19528 ,Which should act as resistance a close above this can further propel index towards 20350. Index is trading above slanting channel trendline a retest of this trendline can give confidence to this rally spreading further,Lets see how midcap index moves in coming weeks .Keep laggard midcaps on radar if the resistance is crossed they can run up.

Friday, August 17, 2018


PSUBANKS have been correcting ever since 2011.
Deep corrections and inbetween fast retraces .

This is weekly chart which shows price movement in slanting channel.
On larger degree WXY correction is on W contains wxy of a smaller degree.Presently trading in Y leg of WXY correction (Sky blue) .
100 is a strong hurdle for this stock a good move is expected above 100 .Lower channel support comes at 50-55 .Can this fall towards 55 time will say right now look for 100 if that fails to cross look for lower levels to come.PSU banks move together.
Overall offlate PSU banks have been buzzing so thought to put a wave prospective.

Thursday, August 16, 2018


Axis bank consolidated in a triangle for more than 
three and half years .

The stock tried breakout ,This a close above 641 would confirm 
break from triangle.laggard private banks are flavour of season.
icici bank is running so did axisbank need to see if this can close above 
641.The move can be huge above that ,No fundamental reason as such 
for such move yet ,Lets see if the stock can perform.Keep an eye.

Tuesday, August 14, 2018

Long term charts METALS

Have made few long term charts.


The stock consolidated for 4+ years 
in triangle and broke out and now retracing from highs.


VEDL did 5 up on monthly chart and then did abc correction .
The stock rose back above b wave trendline and retracing.


This stock also did a triangular consolidation broke out and now retracing.

Sunday, August 12, 2018

MARUTI wave analysis

Maruti did a small degree 5up recently.
Lets look at the chart.

From the chart we can see a nice 5 up followed by a correction the correction
is reaching near support levels. This most likely can bounce in any gapdown
Good support at 8960-80.Lets see how stock plays out in coming days.

Friday, August 10, 2018

COALINDIA wave analysis

coalindia a good channeled move is on.
A abc correction followed by X happened.

The stock looks to be heading towards 250 in c of Y .This count invalidates if trades above 289.
Lets see how the stock trades in coming days.

Thursday, August 09, 2018

Nifty longterm Elliottwave analysis

Many had asked long term nifty elliottwave count.
I have resolved nifty move in wave count.
The count is on monthly chart.

The above chart shows the waves ,We had a clear 5 wave up in 1st wave finished in late 1994.
We had a time consuming 2nd wave spread across 7 years finished in year 2001.
Golden period 3rd wave started late in year 2001 and finished by late 2010,Agood 9 year+ move.
We had the infamous 2008 correction in this phase where the index corrected by more than 60%.
Before this we had a steep rally in 3rd of 3.
5th wave started in mid of 2013 and still on.We have arguably completed 1and 2 waves and presently trading in 3rd of 5th wave.

Lets check fib corelation.

Took the length of 1st wave and .Then kept it on 2nd wave low and the 3rd wave target matches 
with 161.8% of wave 1 which is usually wave 3rd target.
In next post would resolve the 5th wave.Do comment if you find something to add on or if you have
a diffrent count,I would be eager to read.

Monday, August 06, 2018

ICICIBANK elliottwave analysis

I had posted about ICICIBANK ,With expectation of 
rise towards 315,320.The rally has come still got potential to go more .

Lets look at the bigger picture.

Finally a bearish count lets see how this chart behaves.My expectation is this rally can 
fizzle out by 330+ .This rally is c up of expanded flat.
This count goes wrong if ICICI hits all time high. Prudent thing would be to try hit this 
stock as near possible to previous high as stoploss.Look for weakness !!!.

Sunday, August 05, 2018


I had posted about jetairways in june 
this is in dump for quite some time and things are still not looking 
promising for this.

The stock has already fallen to 300 ,Still scope for downside looks.
let me post current chart.

The stock can well fall towards 200 in due course ofcourse this can have some rises inbetween.
Any one looking for investing be careful and keep stoploss as the picture looks dire.