Thursday, April 25, 2019

Nifty chart

Nifty wave structure ,Nifty has been trading in a small range for some time,
Thought the move is fast within the range .
Lets see the wave count.

The green one suggests the bull count and the red one is bear count.

Overall the range can hold for max few days range expansion is coming soon.

As long as 11570-60 holds expect nifty to retest today high .

The bearish red count negated if nifty scales new all time high.

Monday, April 08, 2019

Nifty chart update

The move is maturing ,Had posted counts here Nifty chart.

Lets see the current picture.

After 5 down we had a  abc up which retraced near about 78.6% of the fall.
Now the C down is on which can go towards 11520-11500 levels .We would recheck
about any stretch if at all at those levels .

Friday, April 05, 2019

Nifty chart

Nifty looks to have completed a small impulse on upside.

Lets see the chart.

From the top of 11761 ,I can see an impulse down too in small tf .Lets see that chart too.

So looking for a sideways to downward consolidation for some time ,The move can stretch
towards downside if 11550 is taken out in a day . Overall expecting mkt to hold small range for 
few days and by then can figure out correction pattern more clearly.

Wednesday, April 03, 2019


Metals have been rising ,Still bit away from channel resistance .
Lets see the chart.

Still away from channel resistance if any correction would be bought into the resistance comes 
in 565-70 range ,Overall fag end rally if its an X wave .


HDFCBANK is super heavy weight in banknifty index ,Mostly this stock move
gets replicated in index.
Lets see its wave structure.

The stock looks to be in 3rd wave of the move started from sub 1900 levels ,Currently 3rd of 3 looks
ending and 4th of 3rd happening ,Any correction which happens looks like would be bought into for a new high again .Look for dip to add into.The stock still has got steam to scale new highs.
Lets see how this stock behaves in coming days .