Nifty near 6700

Hi friends,
                   In my last post i had mentioned about a impulse seen in nifty

Had mentioned about profit booking range and nifty resisted to 6800-6830
range .
Lets see the present structure of nifty.

Nifty resting on channel
support ant fall below 6700
would invite more profit
booking.Below 6700 the
neat logical support comes
at 6600,Today midcaps
saw nice cut many midcaps
were 5-6% down .
Had mentioned about
vix breakout sometime


Back Vix breakout 
Vix has done 30+ already ,Peculiar thing nifty rose with vix for some time.
Lets see if volatility increases with vix being so high.

Regards
Rish 

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