Gold breaks out

Hi friends,
                  I had posted gold positional chart some time back and had mentioned
about coming breakout in Gold chart.
The breakout in gold has come already and the trade is already in handsome gain.
Lets look at the present chart.

From the chart the
breakout is seen,Next
hurdles 1335,1394
and then finally 1390
for now should trail
the position with 1280
as trailing stoploss or
can book some profit


and hold rest with buy price trail for the targets of 1335,1394.Lets look at the chart
closely.

We can see from the chart
gold did 1st wave up and then
a small wave 2 and now
trading in 3rd wave with
targets of 1335 and 1394
Lets see how gold
performs in coming
days.



Regards
Rish

Nifty elliottwave counts

Hi friends,
                   I had been telling about this move for some time ,Below 6080 it was evident
As mentioned in previous posts Nifty structure and Nifty technicals.
Now the present situation we finished WXY ie a double zigzag correction.
Lets look at the chart.

My reading says if we reverse
before 5965 itself we have
a chance to retest 6100
if we go below 5965 we would
have a lower top.Ideally i would
see tomorrows move to fine
tune my reversal levels.
Most banking stocks got badly
hit today.
Lets see how nifty performs


Regards
Rish

Nifty structure 13th february

Hi friends,
                   Nifty at last gives some trending move which suggests y got over
look at old post nifty structure .

Expecting this drop max
till 6030 or 5980 and then
again reverse to make
a rally towards 6100+
to finish wxyxz ie
tripple zig zag.
Lets see how nifty
performs




Regards
Rish

Bank nifty structure

Hi friends,
                  I had posted banknifty chart few days back .The index didnot move
that way though its a small range so it didnot affect  .
Lets look at the chart now and count the eliiotwave counts.

From the chart we
see we had a sideways
triangle which broke
upward ,As long as
10275 is maintained we
can expect another rise
else c would be considered
over below 10275.
Nothing much to do
as of now small range
stock specific action is on.

But soon we would have trending move.
Regards
Rish