DLF big Bottom made?

Hi friends,

                   DLF was in news for wrong reasons recently or rather should say

because of close ties with Robert Vadra ,As the election showed a tilt towards Modi

This stock started to fall as Modi did say lot about the Vadra land deals.

Lets see the chart to see the clear picture.

The stock went down from 170

to 140 levels ,And slowly started

to rise back and eventually rose

furiously and had today touched

212.Lets see the bigger picture

of the stock ,The yellow count 

abc the count is very clear .

The yellow trend line has to

be broken upward to consider

big breakout towards upside.

Lets see how DLF behaves near tend line resistance 240-260 ,

Regards

Rish 

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