Larson & Tubro Elliottwave Analysis

Hi friends,
                  Looking at Larson chart ,This chart was range bound for much time
Slowly it came out of range now targeting 61.8% retracement .of the fall from
1155+ to 950+.
Lets look at the chart to have a closer look.

From the chart we see
we have finished one
big abc from 1155 to 950
and then a counter trend
rally is on which is reaching
almost 61.8% retracement level
On labeling wave ,I see we are
in 3rd of c and can see 5 wave
in 3rd wave ,We should be
finishing 3rd on Monday


Any rally on Monday should be used to see for a wave 4 fall and if 1016 is broken it can even stretch.
My expectation would be to short any rally i see on Monday .

Regards
Rish

Axis Bank elliottwave Analysis

Hi friends,
                    Looking at Axis bank ,I see a small impulse on hourly time frame.
First lets look at the bigger picture of Axis bank.

From the chart we can see
it has made abcde from
september 2013 low
After finishing abcde
we did 1 small abc
in it And after that we
are doing a small impulse
in it.Lets look at the
smaller time frame chart
to get a better look at
the hourly impulse.

We see that a impulse
is in ending stage in
hourly timeframe
we can try a small
option trade or a short
trade in it on monday
near 1200 for a target
of 1150 or lower
we can even try 1150
put which is quoting
at 4 right now

Stop loss for this trade would be 1230 .

Regards
Rish

Nifty elliottwave patterns

Hi friends,
                   Nifty keeps us guessing ,Yesterday it stretched above 6130 and today it fell below
6100.In my last post i had expected this fall though levels were not matched perfectly.
Look at the old post Nifty Technicals.
Lets look at the present structure of nifty Index.

If you see the last post
chart the fall has come
I would look for a bounce
back from 6060-50 levels.
The chart is self explanatory
If we go below lower
trendline then chances of
this pattern failing gets
high.
Lets look at one more
possibility which shows

same price movement but elliott wave counts differ.Lets look at the chart.

This count assumes we
had c wave failure in
W ,ie c low was not
lower than a wave low.
This wave count too
suggests a fall till
6060-50 in fall of b
wave ,This abc would
be part of x wave.



Lets see how nifty moves in next few days .

Regards
Rish

Tech mahindra Trade set up

Hi friends,
                  I think we have a small Trade setup in Tech mahindra.
Lets look at the chart.

From the chart we
can see that we finished
a squeeze abcde at 1700
levels and from there we
did a impulse up till
1880,And started a
correction for that we
have done a down and
b up now we in c down
Here we have a small


trade we can initiate a short at current market price or in rises stoploss at 1861 and
targets as 1778 and 1727 in case the wave stretches.
Lets see how the stock performs in coming days
Regards
Rish