Rish Trader

Monday, December 02, 2013

Reliance capital elliottwave analysis..

Hi friends,
Reliance capital is been in a range for many months,Its making abcde up with e leg on right now which can target 400-420 levels

Now this abcde can be finishing a C of previous ABC or this could be a leading diagonal ,
Leading diagonal would be a bullish case in which after finishing abcde a abc correction happens finishing which the stock can take off and breach 420 levels which would be a breakout of multi year
slanting trendline resistance,At present scenario look to book around 400-420 levels and reenter at lower levels,Would post again once we complete more wave structure.
Regards
Rish

Nifty 2nd november

Hi friends,
Nifty went past 6156 and remained above that full day ,Next target above that comes at 6212 ,Till that's maintained it looks to be corrective in nature,I would watch the move of next 2 days to ascertain the structure underway .

overall select midcaps continue to outperform irrespective of nifty movement as its range bound.
Stockwise HUL looks attractive out of large caps along with IT majors.

Regards
Rish

Thursday, November 28, 2013

Nifty 29th november

Hi friends,
Nifty continued its lackluster slow downward move for most of this week ,From
the look of the chart and the present few days of slow updown move suggests one more pattern
formation a triangle which is shown in below chart

With expiry being over nifty can slowly start its technical move

Regards
Rish

Wednesday, November 27, 2013

IRB Infra Elliottwave analysis

Hi friends,
Lets check the wave structure of Irb infra ,August 2010 Irb started to fall
the entire fall can be resolved into wxy ,The below chart shows the wave labeling clearly.
The firstfall resolved into a falling wedge followed by a simple abc .Right now its trading
near a very crucial juncture near 100.Above 100 this stock is heading towards big targets.
Above 100 this has potential to double in a years time max.