Banknifty wave structure

Hi friends,

                 Banknifty has been moving in range for quite sometime.

Let me put the daily chart to show the sideways move.

Now lets see the sideways move closely its been spending time in the range as we reach

towards end of elections and near exit poll and eventually results on 16th.

Let me put the lower time frame chart to see sideways move closely.

From the chart we can see

abcde move is over

and abc move is on 

now if banknifty trades

below 12977 it would

fall towards 12700

falling in c wave if it doesnot

fall below 12977 and goes 

above 13100 ,I would have

to reconsider this count.

Lets see how banknifty moves tomorrow.

Regards

Rish 

Nifty starts c wave

Hi friends,
                   I had posted about nifty structure yesterday .
Nidty did a time consuming sideways uppish b wave and today
started c wave down lets see the chart.

By going below a low
its confirmed that c down
has started and logical
target comes near 6600-6580.
I expect slow drop the way
it has happened over last
5 days.Lets see how nifty does
this c wave .




Overall nothing big has happened yet nifty after rally is consolidating looking
for clues from elections.
Regards
Rish

Nifty wave structure

Hi friends,
                   Nifty continues to slide down slowly ,Few stocks continued there correction
and few maintained their rise result nifty showed very little move and almost remained
sideways,I expect the
yellow line move in coming days
either nifty can remain sideways
or should move in yellow line
structure.Overall the time consuming sideways structure suggests everyone is confused
about election or are scared to
take positions today even volumes were low ,We are in for exciting move in some time.

Be attentive and track IT stocks closely.

Regards
Rish

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