Monday, July 01, 2019

Indusind elliottwave analysis

This bank struggled among other private banks in rally.Ofcouse reason being expousure to stressed assets. The stock has been in range for some time .Lets see its chart.

The above chart shows the triangle possibility as long as 1350 holds the stock has potential to do 1700.Another count with a possibility og ABC correction also shows upside coming .

The above chart shows ABC possibility and right now C on .abc of c iss done and d wave is on which has a resistance at 1550 levels.

So in both cases a rally is seen though different targets. Lets see how chart behaves.

MIDCAP index elliottwave analysis

Midcap index has underperformed for 2 years now, Many midcaps have become small caps.
The chart of midcap index is squeezing.Is it getting ready for big move ?Lets check up.

The above chart suggests WXY correction over and the price is squeezing in range now,
With range squeeze ,The upside momentum can start off  with a close above 18000.
This is quite bullish count lets see how the index behaves if it  closes above 18000.
Below 16400 the count gets negated .