Tata motors Trade setup

Hi friends,
                   Tata motors have been inching up ever since the 2008 lows
and been inching up ,I see a trade opportunity in it with low risk
Lets see the chart.

From the chart we can see
an abc is ending,So we
should have a upmove coming
soon ,Ideal trade would be
to long the stock in dips
as long as 400 holds and the
stock can target 440-450
,This could well be taking
the shape of a wedge well
thats still an anticipation.


Lets see how stock performs in coming days.
Regards
Rish

IDBI Trade setop

Hi friends,
                   A small short trade setup can emerge ,Below 67-66.50.
Let me put the chart to get the picture clear.

From the chart we can see
IDBI is in 5th of a hourly
impulse where 5th has
grown bigger in size price
wise and even timewise .
Now here 5th is making
a ending diagonal and its
almost complete and below
66.50 this stock can fall to
atleast 63 .


Trader can maintain a stoploss of 68 and plan this trade.
Lets see how stock performs in following days.
Regards
Rish

Nifty wave structure 29th april

Hi friends ,
                   Nifty continued with its slow drop.
I expect a bounce back today from lows  preferably 6750-6730
Waves suggest a wave is coming to end ,Let me put the chart.

Lets see how nifty reacts
to supports ,Overall i am of
the view ,Nifty is trying
abc correction and it should
finish a today so we should
see bounce back today .
Above 6820 ,I would be thinking
about alternate scenario.





Regards
Rish

Nifty Tests resistance

Hi friends,
                  Had posted in my last on nifty about resistance zone 6850-80
Nifty made a high at 6861 and reversed.
Lets see the nifty chart.

We can see from the chart
a expanding triangle like
shape had formed and it reversed from trendline resistance.
According to wave theory
a break below 6700 would
confirm c is finished and d
wave has started.
Track closely nifty if 6700
gives up c we can target 6600-


6580 ie d wave .This is short term top only according to me,Dips would be good to buy
stocks and quality midcap for sudden spurts.
Lets see how nifty performs in coming sessions.

Regards
Rish