Nifty 21st november

Hi friends ,
                     Nifty reacted to 61.8% retracement resistance and fell back it should test 6100 atleast and then make pattern for further move below 6100 potential

to test 6060 is high  would be following it closely as nifty is at a important juncture ,Which opens up nifty for 300 points move either side would track it closely.

Nifty midcap index midcaps buzzing

Hi friends,
                   off late we have seen select midcap stocks have started to buzz and irrespective of market movement they have been running ,Looking at the midcap index chart ,It shows a contracting move of  triangle in process ,Each wave has 3 waves so a classic triangle or a flat possibility arises.

Presently d wave of triangle is unfolding with first leg ie a leg of d almost getting over and b can start after which a rally towards 8500 should happen.Gist would be to buy select midcaps in dips for handsome gain for next month second half .

Regards
Rish

Nifty 20th november

Hi friends
                  Nifty reached to the 61.8%  of the fall retrace yesterday and was struggling to cross that looking for a reaction at this juncture and see if it looses steam or goes sideways ,Today would decide further move of nifty for next few days .

The bullish part its trading above the trendline .

Regards
Rish

>BPCL long term wave counts

Hi friends,
                  Let us see how elliottwave helps in constructing a trade set up and how on each time frame we can apply it.
Bpcl on long term charts look to be in C of big ABC

Now looking at the structure of C it looks to be making a ending diagonal with e leg running
ie last abc is on a is over b running after which c rally can start towards 450

look for a nice long trade in this script around 300-310 for a handsome gain of 20-30%.