Why learn Elliottwave (IDFC)

Hi friends,
                   Continuing with  my topic why learn Elliottwave ,Today i would show
example of IDFC,The stock which i tracked extensively,And was able to forecast its
move first loosely and later on with perfection.
IDFC TECHNICAL CHART This was dated 22nd jan,In which i forecast ed a small
rise followed by a fall towards 95 and then a rise towards 120+.
What happened in real small rise didnot come ,A sideways move happened few days
then a fall happened towards sub 90 levels and then a steep rally happened towards
128+(The actual high is 139 but that was a spike and was retraced fully intraday).

Then i posted this again few days before Banking license announcement
IDFC BANKING LICENSE HYPE ,In  this chart i forecasted a move towards 106+
buy was around 93.50 with stoploss at 92.80 and target was 106+ ,The stock went
much above that this was an ideal safe trade which i was able to generate because
i was able to see the bigger picture of this stock ,So i broke the stock into small parts and
saw lower time frame charts to figure out ideal trade.

Now again lets see the bigger picture

From weekly chart i see that
the stock did a WXY from
november 2010 top till
end august 2013 .A new upmove started from there ,This can be
a X wave or a new impulse of
a bigger degree which we can see
later on as the wave reaches
advance stages.



Let me put the structure of the rally from august 2013 lows.

We can see that stock did a abcde
from low of 76,Then stock corrected
and retraced towards 88 from a
high of 117.8 ,And again rose
in 5 wave up and started its correction,Now if this is an X wave it should not cross the slanting
channel trendline i made in
weekly chart ,Look at the
structure of fall from 139 closely


We would have a trade coming up here soon,Track this stock closely.

Regards
Rish

Technical charts discussed(Reliance capital & Dredge corp)

Hi friends,
                    I have been posting trade ideas for sometime now,I am sure who follows this
blog must be getting benefited.

Reliance Capital.This stock when i had posted was around 353 ,My expectation was a dip
was coming and that dip was supposed to be bought ,The stock dipped to 334 and then
blasted up all the way to 383 a handsome jump as i had expected.

Dredge corp.This stock i had categorically mentioned is ready for a big spurt and was a buy at current levels and in dips ,The stock w.as at 250 and it scaled to 317 in a very short time confirming
my chart reading true ,More would come in this stock after small consolidation keep an eye on this.

So overall you all would have seen Elliottwave give a good hold on the trade provided you find the
right stock ,Ofcourse you need to get hold on wave analysis first to find the right stock and then
plan a trade setup on it and sit with patience till the required setup emerges and them execute the
trade swifty.I have started posting these trades with charts so that traders get compelled to
learn Elliottwave because nothing else gives comfidence better than, When you see something which
was told in advance happened in future:).

Regards
Rish

Why Learn Elliottwave (Hindoil exploration)

Hi friends,
                   Continuing with my topic Why learn Elliottwave ,Lets discuss a stock
Hindoil exploration ,Let me put the chart to explain my study further.

From weekly chart we can
see the stock has finished
5up or abcde by 2009 end.
And after that we saw a big
correction in it wxy.
It finished near 22 levels
in august 2013.The stock
started uptrend and right
now trading at 52.80,Its


nearing trendline resistance 61.40 ,Once this resistance is taken out ,The confidence in this
uptrend would be high.Above 61.40 the stock has potential to double  and should
target new high.
This assumption holds true if we hold 22 .
Lets see how this stock performs keep an eye on this.
Regards
Rish

Why learn Elliottwave (DREDGE CORP)

Hi friends,
                  Continuing with my Why learn Elliottwave ,Topic
Today i am showing an example where the stock is about to show big breakout
of the range and how an elliottcian tries to catch it before it starts to explode.
Let me put the example stock chart Dredge corporation.

The assumption is,The stock
has finished a big ABC
correction and now looking
to break out of the down
channel  ,This stock has
potential to scale to 400
in very short span,Look
for volumes they are building
up ,If this is 3rd wabe brust
the volumes would really go
ten fold.

Keep an eye on this stock ,Lets see how this stock performs.

Regards
Rish

Why Learn Elliottwave (Maharastra bank)

Hi friends,
                    Weekends usually demand a descriptive knowledgeable post,Continueing
with my Heading Why learn Elliottwave ,Would share an example how a big move
can be captured using Wave principle .
Now time has changed any news or calamity which happens in any part of the world
reaches to you in minutes ,And if its directly or indirectly related to a stock it affects
its price spontaneously,Unlike old days when things usually took more than a day.
My point in saying this was to show how the scenario has changed and envirnment
has changed and it requires a trader to adapt to the changing situations along with
changing market cycles.
A trader has to adapt to the changing time ,Market is evolving continuously so to have
edge over other traders one need to be well equipped and ahead of others.
Today i am giving an example of how a big move can be captured
Let me put the chart of Maharastra bank.

I have labeled chart extensively
So that one can figure out
what the stock is doing.
We had a time consuming
abc done over 3 years ,
The interesting thing is
A=C (yellow ),Even the
abc of bigger B wave ie in
white colour also shows
a=c.The bigger ABC
we can easily see 5 waves in

C wave which gives the confidence that the wave is nearing end,Still to be on safer side
we should have a trendline drawn from 2nd top to 4th top and once that trendline gets broken
we can be sure of that a new wave has started.The new wave which has started should target
55,Once thats come we can figure out next target.This stock has already done 20% move
after breakout which is a great move to capture.
This is just one example of trade setup elliottwave principle helps us to find with defined
risk reward.

Why learn Elliottwave

Hi friends,
                    I have been using Elliottwave principle to formulate my trade ideas now for
almost 7 years,All this while i have come across many traders and investors who use different
techniques and methors to fulfill their trade requirements.
For some elliottwave is like a jigsaw puzzle ,It may not be because they tried to learn it,
But mostly because some one told them its a tedious tool and it would confuse alot.
And then you see few who use wave principle with perfection which helps them in
forecasting the future price of the said script ,They almost figure out what the stock would
do in near future or even in medium term and long term.

I always come across traders who complain ,They not able to count waves or rather not able
to figure out from where to start counting waves.
Friends we have 1000,s of scripts which are traded ,We need to find just few of them which
fulfill your set of conditions according to wave principle (Everyone has his or her fav trading
pattern or count)  ,Its indeed hardwork ,But then there is no short cut to success.
The more the number of stocks one go through the more confidence and experience one gets
in wave counting.Eventually one reaches to such level where just a glance at the chart helps
you in figuring out what stock would do in near future.

I had put  a detailed post on Trading Elliott wave long time back hope it helped many to grasp
the basic wave principle 
This blog of mine its a testimonial how elliottwave helps in trading ,I have posted countless
trade ideas which i developed using wave principle.
In past i  received  many queries regarding  learning wave principle ,They say a push in the right
direction is must before plunging deep into it.

Lastly do contact me if you genuinely want to get hold of wave principle
You can mail me at Rishrich at gmail dot com