Glaxo Trade setup

Hi friends,
                      A simple abc setup has emerged in Glaxo after massive fall
Let me put the chart.

Ideal trade would be to buy
stock in dips with stoploss
little below 2431 for a
target of 2700+.
Volumes have dried up in
stock which hints at reduced
selling pressure ,A small blip
up and buyers would over
power sellers.



Keep an eye on this stock in coming sessions.
Regards
Rish

NTPC The electric giant

Hi friends,
                    NTPC came up with its IPO in year 2004 and did good till year 2008
and scaled to highs of 290 where it finished abcde and started its abc correction
we are in this abc ciorrection for 6 years.
Let me put the wave chart.

From the chart we can see
the stock attempted a
double bottom at 112 levels
and been holding it.
Above 145 the stock would
breakout of down channel
of c wave and would confirm
c wave end and start of bull
market in NTPC .
So look for the break of 145


to buy into stock for higher levels ,In case the stock doesnot break 145 we can see another drift
towards 93-94 before it attempts breakout.
Keep this stock on radar ,This stock would be spearhead of next bull run  .

Why Learn Elliottwave (Hindoil exploration)

Hi friends,
                   Continuing with my topic Why learn Elliottwave ,Lets discuss a stock
Hindoil exploration ,Let me put the chart to explain my study further.

From weekly chart we can
see the stock has finished
5up or abcde by 2009 end.
And after that we saw a big
correction in it wxy.
It finished near 22 levels
in august 2013.The stock
started uptrend and right
now trading at 52.80,Its


nearing trendline resistance 61.40 ,Once this resistance is taken out ,The confidence in this
uptrend would be high.Above 61.40 the stock has potential to double  and should
target new high.
This assumption holds true if we hold 22 .
Lets see how this stock performs keep an eye on this.
Regards
Rish

Nifty Shows impulse

Hi friends,
                   Nifty after a small consolidated correction again resumed
uptrend.
Lets see the present structure.

The impulse is visible
clearly from parallel
channel we get resistance
in range 6800-6830
above that 6860-6890.
This is profit booking range
for nifty ,Concentrate on
getting good level to book
rather than catching new
trades.


Lets see how nifty moves .

Regards
Rish