Nifty 4th december

Hi friends,
                      Nifty was sideways to down most of the day yesterday ,It didnot give a close above 6212 ,Now a retest of 6150 looks eminent below which the fall can stretch towards 6100 ,Where we
have to look for a pull back.
Chart remains same as yesterdays Nifty 3rd december

Nifty 3rd december

Hi friends.
                   As mentioned nifty went on to test 6212 zone and hovered there full day,Now if we dont
close above 6212 and continue rise i would reckon we will be making another abc as shown in the
chart below ,I am looking at chart and trying to project the further move,Not like most analysts or
fund managers who have become political analysts and giving their targets.Let us see how news
breaks pattern.One thing which looks certain is nifty move from last 2 weeks is like a musical chair
game few rises few falls so ultimately its maintaining respective crucial levels .

Regards
Rish

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