Monday, January 21, 2019

Midcap index chart

Midcap index is not in sync with Nifty ,Nifty is still able to 
rally a bit but midcap index is sideways to down .
Lets look at its waves.

This holds true as long as midcap index holds 17220.This count suggests some more range bound movents before a trending move.

Sunday, January 20, 2019

Axis bank chart analysis

Axis bank was the laggard in private sector banks,Offlate this stock has 
been in bulls list and has seen break from 4 year consolidation triangle.
lets look at its chart ,
Monthly chart

This is monthly chart can see how big triangle consolidation in 4th wave and now breaking out
from it,For 5th wave move.

This chart shows 4th wave consolidation off late the stock is witnessing good volumes ,
Lets see the 5th wave closely.

5th still got lot to do ,We had a deep 2nd wave ,Above 680 move can go explosive ,buying in 
dips is good in this stock for delivery, A 4 year triangle break can give a good upmove .For FNO trade still need a better trade setup as the swings are wild so risk needs to be managed.

Saturday, January 19, 2019

Housing finance companies

Housing finance companies saw big dumps and 
they went in consolidation after the dump. DHFL ,INDIABULL HOUSING
 to name few ,Both look to have fallen in impulse .

Ibulhousing 880+ is stiff resistance for now ,Need more time for a trading setup as pattern is 
still on.

DHFL too saw a deep cut in september this was the first housing finance company to fall
big time ,Still this is not able to recover much after the dump above 250 only the stock would
show strength.
Would be interesting to see this qtr results of housing finance companies..

Friday, January 18, 2019

Techmahindra elliottwave analysis

This stock has been whipshawing for quite some time
lets see the internal waves to figure out what the stock 
is up to.

The above chart clearly shows the stock is in timeconsuming triangle which has a breakout above 735
and breakdown below 670.Wave says some more time in traingle before its ripe to break it. Track the stock for good move after finishing triangle keep levels handy.