Nifty 12th june

Hi friends,

                  Nifty scaled new high 7700 and retraced fast ,Lets see the structure of the fall

Let me put the latest chart in a lower timeframe.

From the chart we can see 

a small abc followed by a x

wave and x wave is now followed

by another abc.

The c wave targets are given by yellow dotted lines it can reverse from any

of those levels 7560-7550

remains a strong support.

Regards

Rish

Nifty 11th june

Hi friends,

                 Nifty inched up after completing abc correction

which was first looked like a triangle ,And is still rising ,Though intraday corrections have started 

to look steep and the buy back after that was not that fast ,First sign of exhaustion.

From the chart we can see

7550-7560 is the first support

till thats held i don't see

a big dent in nifty.Keep that

as stoploss for your profits.

Regards

Rish

JUBILANT FOODS finished a big FLAT Correction

Hi friends

                 Jubilant food has made a nice pattern ,It has finished a Flat correction.

ie it did a abc correction with 3,3,5.Its a big Flat correction spread over 1 year.

Lets see the chart to see the structure.

From the chart we can see

the clear ABC structure

and even can see 3 waves

of A , 3 waves of B and

5 waves of C clearly.

A clear cut Flat correction

A powerful pattern ,This is a good trading stock for next few months

with a target of 1900-2000.

Buy this stock in dips and add

on to it.You would see 1900 in it in coming time.

Regards

Rish 

Hathway cables and Unitech wave targets

Hi friends,

                 I had posted about hathway and unitech sometime back and had anticipated 

big run ups in them.

Look at what i said about HATHWAY CABLES.

This stock did a big abcde consolidation spread over more than a year

but see the beauty of pattern once it was finished it took not even 2 months

to breach resistances and scale an all time high.

A handsome 40%+ move in about

a months time indeed priceless.

Lets look at UNITECH and see what i said about it.

It was at 14 and i was able to see a rally rowards 26 at that time now it has reached 37.

A handsome 100% return in

about a months time.So its all

about what technical analysis

tool one uses to reach his/her

tradesetup.I have been using 

elliottwave for last 7 years 

and i have been rewarded well.

Learning elliottwave indeed 

gives a trader edge over others.

Regards

Rish