Nifty Election squeeze

Hi friends,

                   Well the event has arived lot of hype build in Expectations are high

BJP led NDA is expected to get majority according to exit polls .

We saw expectation rally already from 6650 to 7200.Lets see the present 

chart structure.

Now tomorrow election results

Nifty moves depend on what kind

of numbers NDA gets this expectation

is build on clear majority to them,Any

surprize or shock can spin the market 

big ,From the chart we can see a nice

squeeze building up for last 2 days 

which suggests market waiting for

a trigger ie election result ,Technically

the move below 7070 would invite

gap filling and nifty can drift down to atleast 7015-7000.We have usually seen market running bothways

as the counting starts like during budget day ,So be safe and trade lite you can always trade heavy on 

any other day enjoy the move and jump in only when you understand the move .

Regards

Rish 

Why learn Technical Analysis(UNITED BANK)

Hi friends,

                  Came across a nice pattern chart ,United bank i keep writing few posts which

are dedicated to inspiring traders,Investors to learn technical analysis and wave analysis.

Let me put the chart to see the pattern.

This is weekly chart ,From the 

chart we can see a big ABC 

correction unfolded in last

3 years ,Interesting relation 

between waves can be seen

A=C(almost)thats an interesting  

observation,And the stock 

has reversed towards upside

,Now this stock is a buy in dips

it would target first 46 above 

that 55 and once trend line resistance is taken it can double quite fast towards 100,Buy this

stock and hold for next 6 months at least to get good reward.

Regards

Rish

Delta corp heading towards new high

Hi friends,

                 Came across a nice trading pattern in DELTA CORP lets see the chart.

We can see from the chart 

delta corp came out from 

a multi year coreection in

2013 end .We are looking

at an impulsive move from 

the lows of 39 ,The 3rd wave

was a lil bigger than 1.6(1)

we can see a jump to 140 

levels on this script thats 

a nice 20%+ move

This stock should be accumulated in dips a nice move is expected soon.

Regards

Rish 

How to trade Nifty after exit polls

Hi friends,

                 In my old post i mentioned about nifty resting or consolidating

after steep run,My expectation for a bottom was around 6600 levels nifty 

reversed from little above that.

Lets see the present picture.

From the picture ,It can be seen

i have marked 2 counts yellow

and green .

The green one is quite bullish count

which suggests extension and we 

are in 3rd of 3,This count portrays

a very bullish picture in coming months.

The Yellow count is abcde and right now e is on,Some observations from 

this count c=1.61a(almost) and right 

now even e is exactly equal to a ,Interesting indeed ,The point is nifty is right now hovering in an important

area 50-100 points here and there is ok but if we don't cross this range of (7000-7200) we should be in for

a consolidation which can turn into a good steep profit booking below 6700.In a bull case 6700 would be held that,s where the big support lies for the recent rally.

Track these levels closely and we see where nifty heads post 16th!!.

Regards

Rish