Nifty wave counts

Hi friends,
                    Nifty has entered expiry week moves have become stock specific
Nifty is able to adjust to a 3% fall of Reliance well :)
Indeed expiry week has come.
Lets see the chart

Looking at present structure
i think we are targetting 6620+
in next 2 days ,The structure is
messy and nifty has almost
done nothing today after
initial rise.The pattern
made in chart works as long as
we maintain 6570 level ,If
we brech that will have to
adjust the count.


Lets see how nifty moves

Regards
Rish

Banknifty rallies

Hi friends,
                    In my last post on Banknifty ,I had mentioned about this rally which
we saw today.
Now since the minimum target i expected is done ,Traling should be done
with 12300 spot price.
Lets look at the present picture.

Now till 12300 holds
things look good but below
12300 we can have a c wave
correction.My overall count
suggests an expanded flat
correction we saw 3 wave A
3wave B now a 5 wave C is
expected if we go close below
12300.So have this scenario
in mind when you trade
further.

Lets see how banknifty behaves in coming sessions.

Regards
Rish 

Why learn Elliottwave

Hi friends,
                    I have been using Elliottwave principle to formulate my trade ideas now for
almost 7 years,All this while i have come across many traders and investors who use different
techniques and methors to fulfill their trade requirements.
For some elliottwave is like a jigsaw puzzle ,It may not be because they tried to learn it,
But mostly because some one told them its a tedious tool and it would confuse alot.
And then you see few who use wave principle with perfection which helps them in
forecasting the future price of the said script ,They almost figure out what the stock would
do in near future or even in medium term and long term.

I always come across traders who complain ,They not able to count waves or rather not able
to figure out from where to start counting waves.
Friends we have 1000,s of scripts which are traded ,We need to find just few of them which
fulfill your set of conditions according to wave principle (Everyone has his or her fav trading
pattern or count)  ,Its indeed hardwork ,But then there is no short cut to success.
The more the number of stocks one go through the more confidence and experience one gets
in wave counting.Eventually one reaches to such level where just a glance at the chart helps
you in figuring out what stock would do in near future.

I had put  a detailed post on Trading Elliott wave long time back hope it helped many to grasp
the basic wave principle 
This blog of mine its a testimonial how elliottwave helps in trading ,I have posted countless
trade ideas which i developed using wave principle.
In past i  received  many queries regarding  learning wave principle ,They say a push in the right
direction is must before plunging deep into it.

Lastly do contact me if you genuinely want to get hold of wave principle
You can mail me at Rishrich at gmail dot com 

Suntv triangle move

Hi Friends,
                    Looking at Suntv structure.
On daily chart suntv has made consicutive abc's which makes the case of
a triangle .Lets look at the chart .

From the chart we can see
the present move looks like
finished a of abc and right now
expecting b wave correction in it
and then a rally towards 420 levels
Ideal trade would be to long the stock once b wave finishes ,Trading
b wave won't be easy ,Better wait
for b wave ending to trade for c wave long.


Lets see how stock performs in next few days ,Accordingly a long can be initiated once
b ends.

Regards
Rish