Bank nifty Technical chart

Hi friends,
                   Had posted banknifty last week and expectation was if 11200 is not crossed
we are in for further weakness.
Read old post here Bank nifty .
Lets look at the present picture of banknifty .

I figure out from chart the fall is making abcde and right now we are in e wave.
And we are nearing 50% retracement of total rise from september 2013 8600.
Tom morrow being RBI policy and e wave down happening,Chances are high
that we make a short term bottom in banking .
If we make a bottom tomorrow that would end the first leg of correction or Aleg.
Waiting to see what Rajan does tomorrow fingers crossed.

Regards
Rish 

Nifty Technical chart Structure

Hi friends,
                   At last a 1% + fall we saw in nifty ,Lets see the present scenario in nifty.
For the last post on nifty refer this link Nifty technical chart .

In last post had mentioned in any case a fall was coming ,First scenario was 6130
and the second one a deeper correction.

Now near 6130 we would see the structure to fingure out the further move.

Regards
Rish

Gold Technical chart

Hi friends,
                    Looking at Gold chart this commodity has corrected for more than a year now
its biggest in last 12 years timewise.
Looking at the chart technically,It seems gold could be making a triangle or a flat.
As we have seen 2 consecutive abc's ,A good setup for a long at present juncture
and in dips.

Gold would move in two slanting red trendlines for quite some time and should hit
1390 positionally,1180 is the support below which the present pattern fizzles.
So ideal buy would be buy as near possible to 1180 ,To minimize the risk.

Regards
Rish

IDFC Technical chart

Hi friends,
                  I am looking at IDFC chart today,Lets see the chart closely,The rally from
end august 2013 makes abcde and ends by mid dec 2013.

Look at the structure after finishing abcde we see a squeeze in making with each leg 3 waves.
we have done abc and right now d is on ,I expect a rally towards 105 and then a fall towards
95  ,These levels are tentative they can change lil bit but direction would be as i expect.
With RBI policy coming these banking stocks would be ready for action .This structure complition
should breakout to give upside target to about 115,120 ,Would look the chart near RBI policy
track this stock closely and see if the above chart move happens or not.

Regards
Rish