TCS TRADE STRATEGY

Hi friends,
                        We have more clarity coming on tcs chart as the move progresses
Go through the following chart

The chart shows formation
of tripple zigzag on the
hourly time frame.
We have finished wxy
now x wave is on and
expectation is once 2187-90
is crosses we should test 2230
2240 and then reverse
to finish off x wave.
After that the final z can


start off so right now we have a long trade with a small stoploss at 2100 for a target of
2187-90 and once crosses 2230-40 .

Regards
Rish

Technical charts we discussed

Hi Friends,
                   Over last month we discussed many stocks lets see how they performed.

1)IDFC The stock didnot follow the exact said path ,To understand further first have a
   look at the old post IDFC Technicals.
   Expectation was a  move towards 105 then a fall to 95 tentatively
  The stock did 101.50 and then fell below 90 and now trading at 97,
  So overall direction was fine but not in sync properly.

2)FRL This went otherway and hit the stoploss the chart reading went wrong here.
   Look at the post FRL Technicals.

3)Ultratech did exactly as was anticipated and we had trades bothways here
   ie both long and short.
   First we longed from 1690 to 1730 the post was Ultratech Technicals.
  Once 1740 was done and not crossed we had a short trade on our hands
  1730 to 1660 As shown in this post Ultratech Update.So overall this
  stock did perfectly both ways.

4)TCS Long trade was expected and did perfectly,See the old post
    here TCS Technicals.Adip was a buy we got a dip till 2145 and then
   we rallied till 2180+ almost testing 2187 resistance.

5) TATASTEEL A long trade was expected here Se the old post here Tatasteel technicals.
     A rally was expected till 360+ and it did 360 in hurry and it has even
     crossed that.

DrReddy Technical chart

Hi friends,
                     Looking at Dr reddy technical chart ,The stock has been rangebound
for some time now after a good rally.If we count waves from 2400 onwards,We
can see that the stock is very well in process of making as impulsive move.
Lets look at the chart.

From the chart we
can see that we had a
simple abc correction
in wave 2,and presently
in 4th wave having a
broadning formation
downwards abcde
with today forming the
e leg we have a trade set
up here for a long.


A long can be initiated in the stock at 2600 and lower for a target of 2700
stoploss would be 1st wave top ie 2555 ,So to have a good risk reward ratio
try to buy nearer to stoploss.

Regards
Rish

Nifty Corrective up.

Hi friends,
                    Nifty after making short term bottom
continued its up move in wild swings ,Which makes me
feel its corrective up which looks like this in chart.

Nifty would be strong only above 6100 otherwise it can swing back
to continue its correction to lower levels.

Regards
Rish