Nifty 10th march

Hi friends,
                     Nifty is well above the last previous tops and looks unlikely to fall back
anytime soon a small consolidation in range and rise back would be ideal case
Till 6340 is held don't expect any big cuts ,Dips would be a buy opportunity as long
as 6340b holds in next few days would get more clue about the next wave structure
and would count the lower time frame waves then.

Sectorwise concentrate on oiland gas and realty sector.

Regards
Rish

Trading charts we discussed in recent past

Hi friends,
                  Lets see some of the stocks we discussed in recent past .
Lets see how they performed .
LARSON & TUBRO This stock was expected to rise till 1080 and then fall off
a bit but this stock kept rising ,It didnot perform the way i expected.

IDFC This stock was expected to rise once triangle squeeze was over it was in e leg
it fell towards lower trendline and rose to do 106 .It did exactly the way i expected .

HDFC BANK This stock was expected to be little sideways and then rise towards
700-720.This spent less time doing sideways and it touched 700-710 ,It did the
way I expected it to do.

HINDALCO This stock was expected to rise towards 115 .This rose fast enough towards
115 and even crossed it and now trading at 124+,It did what i expected though it went quite
fast.

RELIANCE COMMUNICATION This stock was expected to rise towards 115 and even
to 120 .This did 120 as I expected.

So overall stocks did very good in last weeks rally.

Regards
Rish

Nifty all time high

Hi friends,
                  In my last post i had mentioned about the impulsive move in NIFTY.
The impulse made sure nifty went on and breached the slanting trendline
and even scaled a new high.
Lets look at the chart structure.

From the chart its seen the nifty
has breached passed trendline
The red counts suggest modest
rise in coming weeks.The green
count shows a much bullish
picture which assumes nifty
has started a wave 3 rally.
As of now in any case we should
target 6600-6720.
Inbetween any correction would
be bought into.

This the bigger picture.For short term picture keep stoploss for longs at trendline breakout
ie 6300 for any buy in dips.
Regards
Rish

Tataglobal Trade Strategy

Hi friends,
                  Lets look at Tataglobal this stock witnessed a time consuming
zigzag correction and now look like have made a short term base.
Lets look at the chart .

The chart shows a clear
WXY correction is finished
and we did another abc
correction and now looks
set for a rally.This abc
correction almost retraced
78.6% of wxy rise ie 132
so now as long as 132 holds this
stock has potential to scale
155 atleast and above that we
can see later.

So ideal trade would be to buy in dips stoploss at 132 for target of 155 ,Once 155
is taken out we can see much bigger rally we would see that later.
Regards
Rish