Nifty 22nd november

Hi friends,
                   We saw 6100 breaking and we tested 6065 with ease and further the wave gathered steam and we at one point of time tested sub 6000 levels ,We are nearing end of a wave after which  a relief rally ie b wave up should come some time from today lasting till monday or tuesday after which fall would continue..looking at 5960-5950 for bounce area..

Regards
Rish

INDUSIND BANK Elliottwave analysis

Hi friends,
                   Let us look at indusind bank waves ,Its quite clear we saw 5 down from may top till end september and after that big abc is underway of which a is finished b is underway.

The b wave further again getting resolved into a abc of which ab is finished and c is underway the following chart is self explanatory looking for a fall till 360-350 ,Before things look upbeat for this stock.

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