Monday, April 21, 2014

Nifty wave analysis

Hi friends,
                    In my last post nifty breaks 6700 ,I expected a retest of 6600 once 6700 was broken
But it reversed from 6665 and went on to make a new high again.
I have adjusted the count a bit to accommodate this rise from 6665.
Lets see the chart.
Nifty wave analysis
the chart is self explanatory
the yellow abc in which c
got truncated and after that
truncation we saw a big rally
which usually happens after
a truncation.The rally is
resolved into 12345 where
the 5th is going on accoding
to parallel channel the resistance
comes near 6850-80 levels


I was able to zero in on this count because midcap indices this was seen clearly but in Nifty it
was not clear ,Lets see how nifty performs tomorrow

Sunday, April 20, 2014

How to Trade TCS after results

Hi friends,
                   TCS result was announced after market hours on Wednesday, 16 April 2014.
consolidated net profit rose 2.3% to Rs 5297 crore on 1.2% growth in revenue to Rs 21551
crore in Q4 March 2014 over Q3 December 2013.
Let us see the TCS chart to further see its movement after results.

How to Trade TCS after results
Tcs from 14th jan top fell till
2013 20th march this move
finished as abc ,The relation
between a and c was a=c and
after that we saw a nice rally
and it did 2264 by 16th of april
now its at a important juncture.
Below 2200 the bearish scenario
takes center stage which suggests
a fall towards 2000 ,which means


the rally from 2013 low till 2264 finished an X wave .
A bullish alternative emerges above 2300 which would confirm abcde finished a leading diagonal
and now a small abc done above 2300 it can make a new high above what made on 14th jan.
So keep 2200 and 2300 on watch and plan accordingly.

Regards
Rish 


Thursday, April 17, 2014

Technical charts discussed(Reliance capital & Dredge corp)

Hi friends,
                    I have been posting trade ideas for sometime now,I am sure who follows this
blog must be getting benefited.

Reliance Capital.This stock when i had posted was around 353 ,My expectation was a dip
was coming and that dip was supposed to be bought ,The stock dipped to 334 and then
blasted up all the way to 383 a handsome jump as i had expected.

Dredge corp.This stock i had categorically mentioned is ready for a big spurt and was a buy at current levels and in dips ,The stock w.as at 250 and it scaled to 317 in a very short time confirming
my chart reading true ,More would come in this stock after small consolidation keep an eye on this.

So overall you all would have seen Elliottwave give a good hold on the trade provided you find the
right stock ,Ofcourse you need to get hold on wave analysis first to find the right stock and then
plan a trade setup on it and sit with patience till the required setup emerges and them execute the
trade swifty.I have started posting these trades with charts so that traders get compelled to
learn Elliottwave because nothing else gives comfidence better than, When you see something which
was told in advance happened in future:).

Regards
Rish

Wednesday, April 16, 2014

Nifty breaks 6700

Hi friends,
                   In my last post had mentioned about the trendline support at 6700.
Nifty has breached 6700 eventually .
Lets see the latest structure of nifty move.
Nifty breaks 6700
From the top the structure
looks corrective ,We did abc
and did a small triangle x
and again finished a small
impulse a .Now since 6700
is breached nifty looks set
to test 6600,On the upside
6730 would be the resistance
to watch out ,For tomorrow
a revound is expected as we
finished a small impulse down

At todays low ,So a pull back is expected to test resistance towards 6700-6730.
Lets see how nifty moves .
Regards
Rish