Tatasteel Trade setup

Hi friends,
                   Looking at Tatasteel chart ,The stock has a potential for a big move
Lets see the chart to figure out its waves.

From the high of 435
january 2014 we saw
a abc correction till 336.
And then we had a impulse
towards 393 finishing a wave
and then it did again a abc
correction where b turned
out to be a triangle as
shown in the chart with
white lables.


Now from the low of 340 the stock has again started a upmove which would gain
strength above 359 and would have potential to scale up to 395-400.
So we have a long trade here with stoploss at 340 for a target of 395 once it trades
above 359.

Regards
Rish

Reliance communication trade strategy

Hi friends,
                   RCOM looks to rise a bit the setup suggests so.
Lets look at the chart

As long as the stock holds 107 we can test 115 and above
115 this can stretch even to 120.
the stop for this trade should be 107.

Regards
Rish

Nifty Impulsive move

Hi friends,
                   In morning i had mentioned 6250 as important level fail to breach above that
was clue for further weakness in Nifty.But market reversed and went above 6250
making the fall abc and recovered smartly to cover all losses and post a new high.

Its a nice channeled
move up which can
be seen from the chart
the next resistance levels
to look for are 6320 ,6350
which coincides with
trendline resistance
Today was the day of
sluggish psu banks which
rose handsomely.


Regards
Rish

Nifty Wave Structure

Hi friends,
                   Nifty fell on global weakness ,Which according to wave looks like 3rd wave end
Look for counts in old post here Nifty counts .
Lets look at the current picture now with nifty has breached 6250.

Nifty is trading below 6250
the first level below which
weakness was expected
If we see the structure of fall
till 6250 is not breached
it would be a impulsive fall
and would give more clues
about further move.
So look for 6250 as important
level.


Remaining below that nifty should target 6160.

Regards
Rish.