SBI ELLIOTTWAVE COUNTS

Lets look at SBI wave structure ,The preferred count follows.

From highs looks to have completed a impulse down,5th finished with a double bottom,Which makes me think to have a alternate count handy ,As of now lets stick to this count .So we are nearing a up finish,Which suggests a dip coming.Lets see how this does going forward.

Banking stocks icicibank hdfcbank

A post after quite sometime.

ICICI bank came up with results today,Seems to be a good set of numbers.The very short term chart shows abcde done and stocks looks set for good move on monday above 900 can really shoot.

Now lets look at Hdfc bank the chart shows 123 done and stock attempting a 4th wave 

The present structure looks like a small wedge in making which could be a B wave so a possibility of a fall in C to retest breakout trendline cant be ruled out.This stands failed if in present move the price breaches 3rd high. So overall gist would be if ICICI shoots big HDFC bank falls to sober down banknifty :),Interesting Monday session looking forward to see how this plays out.

Nifty wave analysis

Taking further from last post Nifty and dow futures .We can see dowfut had already broken previous low whereas nifty was still trading above last low ,In last 2 trading days nifty too breached last low and today attempted a recovery.Lets see the chart.

The move is well within the parallel channel . Also a trendline from all time high crosses from todays low .This range of 11000-10950 seems important if we hold it can expect good up move. Wavewise an abc correction looks finished .Lets see tomorrows price action for more confirmation. 

KOTAK BANK ELLIOTTWAVE COUNTS

Hi friends,

                   Lets look at the kotak bank move from march lows.

From the above chart we can see WX is done and Y is on ,Right now b of Y is on which is a triangle

move ,Upper break is at 1400 and lower breakdown is at 1260.According to WXY move ,Expectation would be a breakup ,Lets see how the stock performs in coming weeks.

JBM Auto Elliottwave analysis

JBM Auto ,The stock touted to be main contender in India's electric vehicle push.

Lets see how the chart shows wave structure.

The stock shows a solid 5 up on monthly followed by 2.5 yr long correction ,Still under slanting trendline.

The correction is still on in this,Though a good stock for electric theme lovers in dips.Keep eye on this once the abc of this impulse is done this could be a multi bagger.  

BankofBaroda elliottwave counts

Lets see the elliottwave counts for BOB from the lows.

From lows it has finished a impulse and has done a abc correction.Now as log as 46.80 holds a good upside is possible .Lets see how this performs.

Escorts elliottwave analysis

Lets look at wave structure of escorts.

Lets have larger time frame first.

Larger time frame shows 123 is finished and 4th is on.Lets see the lower time frame to see 4th unfolding wave structure.

The above chart gives hint of  WXY unfolding its trading in a parallel channel. WX is finished Y is unfolding with a already done and b underway .b is usually notorious plays around for some time before giving up not to forget it catched lot of traders on wrong foot .Look for shorting opportunity in coming days in this in rallies.This wave structure fails if stock crosses above parallel channel.

mindtree elliottwave analysis

Friends,

               Lets look at wave structure of mind tree ,First always look at bigger time frame to figure out bigger wave and later check on smaller time frame to figure out entry exit in case a trading or investing opportunity arises looking at larger time frame.

The monthly wave counts show clear 5 up. According to this study this stock would underperform for quite some time ,This validates what we saw in IT INDEX ELLIOTTWAVE ANALYSIS .

Lets check now smaller time frame .

From 5th high we can count abc followed by X wave and again a down fall probable WXY pattern unfolding .A rectracement rise would be a welcome move for berars to hit for lower levels next few 

days move can give good entery point lets see how the stock behaves in next week.

 

Indusind Elliottwave analysis

The price has been squeezing in a range for some time 

Lets see the chart structure.

The chart is self explanatory,Upside minimum potential 1430,Above that it breaks out 

of this wedge ,Keep an eye on this stock.,

nifty elliottwave analysis 20th aug

Not much has changed from the last post.

NIFTY ELLIOTTWAVE. Lets see present picture.

The above could be a posibility which means we could witness this sdeways move for one or 2 

more trading sessions ,This count holds true as long as lower yellow trendline holds true.

Lets see what could happen if trendline breaks down.

This suggests another abc on and a fall towards 10900 or bit lower can come ,Tomorrow we could 

figure out what pattern plays out :).

Nifty elliottwave analysis

Lets look at the nifty count .

The popular count doing rounds is nifty impulsing down.

Check this count .

The fall to me looks complex ,Though the c of Y does show 3rd wave fall conditions (continued falling even in extreme oversold situation),The present situation shows as long as 10900 holds

A high above 11200 looks possible ,The waves are overlapping in this upmove so need to be watchfull,Probably a X wave move is on .Below 10900 a new low looks quite easy .Lets see how the chart behaves .

HDFC BANK elliottwave

Dear friends,

                      HDFC Bank is a super heavyweight in nifty ,Lets see its wave structure.

The stock made a important low below 1900 ,Lets see the wave strcture from 1900.

The structure looks quite clear wavewise,The above chart is self explanatory also the 

3rd wave comes exactly 1.6(1)wave.Wave 3 ended with a ending diagonal .The fall from 2500

is quite sharp ,The fall looks impulsive but i am giving it more time to get confident ,For now 

the gap area near 2350 is stiff resistance ,Only above that i would consider bullish count ,Till then,

lets see how the price behaves and the pattern emerges.

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 .

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.

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 .

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.

TATASTEEL chart

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 chart

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 .

Midcap index chart

The midcap index has given rally more than expected.

It has negated the previous wave count  midcap index chart .

Lets see present scenario.

The yellow is the updated count,The big bull countwould be 1,2 in place of ab(yellow).

Still steam left even in a BEAR count towatds 18000. Lets see the index how it behaves.