Nifty reaches 6700

Hi friends,
                   Nifty continued its upward journey,Slowly steadily.
Someone who shorted this market because its over bought must be wondering
what went wrong.
Usually in extreme over bought conditions a 3rd wave or c wave move
can continue.Lets look at the nifty chart structure.

From the chart we can see
on lower time frame
the 3rd has done 1.6*(1)
so we have touched  an important
level .Monday we can have
volatility ie 3rd or c wave top
and we can have 4th or d wave
fall i don't expect big fall ,It can
be fast timewise as 2 took lot of time .


Lets see what nifty does on monday accordingly we can place overselves.Overall no shorting
yet we are yet to see any weakness.

Regards
Rish 

USDINR The bulls would be back soon

Hi friends,
                  USDINR had a steep rise last year may onwards after breaking out
from triangle,It did 54-68 in matter of 4 months ,September 2013 USDINR topped and its
been correcting that rise , Recently USDINR broke a important support of (60.70-60.50)
The next logical support comes at 58,57 and lastly 56.
Lets look at the bigger picture ,Let me put up monthly chart .

 The chart is well labled
,I am taking the current
fall as d wave fall which
can ideally target 58,57.
Thats when the USDINR
can revese back to do its
e wave up ,An interesting
observation C=1.61(A).
My expectation according
to wave principle would be


to see USDINR back to 69-70 levels in E wave up,What fundamental change can ignite
this rally is yet to be seen ,Lets see where d wave ends and we can figure out targets of
e up.

Regards
Rish 

Nifty march expiry

Hi friends,
                     I had posted Nifty chart yesterday expecting nifty to
rise towards 6620 in next 2 days but nifty  rallied and tested that
level today itself.
Lets see the present structure now.

For tomorrow nifty
can either do nothing
at all and come back to
6600-6620 or it can
target 6640-6660
according to the move
if nifty holds 6560
expiry should be
bullish either 6620
or 6650-60


Below 6560 nifty gets weak .
Lets see how nifty moves tomorrow and see where it gets expired for the month
of march.

Regards
Rish

Gail Wave Analysis

Hi friends,
                  Looking at Gail chart ,The stock looks to be in e leg
Lets look at the daily chart to see bigger picture.

From the chart we can
see that how the waves
are unfolding.
We had a fast dump in d
leg made a low at 347.
And from there we have new
leg rise ie  e leg rise.
This stock has potential
to do 400+.



Lets see the hourly chart to see the e leg structure closely.

We have a abc correction
near trendline resistance
those green dotted lines
show support of abc correction

once abc correction over the stock
should target 400+.
Buy in dips as long as 360 holds
400+ is coming.



Lets see how stock does in coming days
Regards
Rish