Hindunilever Technical Chart

Hi friends,
                   Looking at Hindunilever technical chart .We can see from
the chart ,If finished a small impulse from march 2013 till july 2013
A fast impulse ,And after that its in a long correction slow one,Lets
see the chart.

The correction is
taking the shape of
a squeeze abcde ,We
have finished abc and
right now trading in
d wave which is
expected to finish by
590 -600 we have
tested 590 once
looking for a retest again


Else below 550 its poised to see a new low 530-520 levels in e leg ,Look for shorting
the stock in rises with stoploss above 610.

Regards
Rish

Nifty technicals

Hi friends,
                  Nifty broke out of small squeeze or triangleNIFTY today morning
and now it came back and retested the breakout trendline of triangle
now if it holds tis line we are in for  a test of 6130 .
Fail to sustan 6080 can cause a fall towards 6060 and below that
6030.

Lets see how nifty performs

Regards
Rish

Nifty Index update

Hi friends,
                    Had posted during market hours,Had expected fall after intra high.
Fall came but not till 6020-30,Check the afternoon post Nifty index.
Lets look at the chart now.

Right now nifty is resting
on lower trendline of the
squeeze ,Tommorow the
squeeze should break
need to see which side it
breaks ,Labeling waves
become a very tedious
job when the range gets
squeezed.So idealy
below 6055 we should
head for 6020-30 and

above 6085 we should target 6100-6130.

Regards
Rish

ONGC Trade setup

Hi friends,
                   Looking at ONGC chart ,It gives us a opportunity to trade long.
Lets look at the elliottwave counts on the chart.

If we see from the chart
we have seen a small
impulse followed by a big
abc correction.
Here we can hav e a smal
long in dip around 272-270
for a target of 283.
Above 283 the stock can
do very good ,For the time
being 283 would be the


target stoploss would be 265 ,Lets see how ongc performs.

Regards
Rish