Nifty wave counts 22nd may

Hi friends,

                 Nifty continues its move in a small range ,In my last nifty post

had shown the given options available.

Nifty did breach 7350 on 20th though it was opening spike,Lets see the 

present picture.

From the chart we can see 

since 7350 was breached in initial

trades on 20th ,The impulse down

thing looks unlikely,Once nifty

sustains above slanting trend line

we can see c wave rally of c wave

of bigger B wave ,Below 7206

the c wave rally may not come 

today would be a decider,As 

we have been sideways for

sometime after election spike.

Lets see how nifty moves in next few days.

Regards

Rish 

Sugar sector trying breakout

Hi friends,

                  Sugar sector is one sector,Which is independent of market move 

and moves on its own and usually full sector moves together,I went through most

of sugar stocks and i feel most of them are ready for breakout.

Let me put few charts which would clear the picture.

From the above charts we can see most stocks have brokeout and few are attempting 

breakout keep an eye on this sector nice move is expected in this sector.

Regards

Rish 

Nifty settling after election jump

Hi friends,

                As usual election day saw wild swing ,Trader on the right side

would have made good money ,Wrong side would have got wiped as the volatility

was huge,Well now vix has melted so volatility should get normal now.

Lets see the wave structure of the fall from 7563.

From the chart we can see

a nice trending move in 123

now till 7350 is held we can

take this fall as a impulse 

which suggests below 7170

we should head towards 7000

even if this is abc (W)at the low

we made on election day and 

this is a new wave up till 7350

is not crossed we can confidently 

say a fall towards7000 should come.Lets see how nifty behaves over next few days

Regards

Rish 

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