Nifty correcting towards support

Hi friends,

                   Nifty after few days sideways move went below the sideways ranfe on friday

it tested 7550 and closed below that ,Lets see the present structure of nifty.

Let me put the latest chart.

Looking at the chart we can see

a=c ie 7550 range has been broken 

so idealy nifty would target 7500 

level now ,ie c=1.6(a) which coincides

with gap filling also ,It would be early

to say if correction would be over

at 7500 or it would stretch we would

see how nifty reacts there.

Regards

Rish                                                                                                                                                                                                              

Cipla breaks the range

Hi friends,

                 Cipla is one important player in pharmaceutical segment in India.

Lets look at the cipla structure it brokeout from its slanting down channel

recently.Let me put the chart.

From the chart we can see the full

fall structure,When i count the waves

from top i see wxyxz finished.

Which can be seen clearly from

the chart.The red count denotes

WXYXZ and yellow denotes internal

structure of each wave.

By this count we can see that an 

important low has been formed 

at 368,And i don't see that breaching

soon ,A trader should look for buying this stock in correction as long as 368 holds.

A target of 450 should be seen in this stock .Once it corrects the recent rise it should be 

a good buy.

Regards

Rish 

Infy nearing breakout

Hi friends,

                Was looking at infy chart been following it for sometime

according to wave principle it looks poised for a nice breakout towards

all time high.Let me put the chart to show the bigger picture.

From the chart we can see

abc is finished and d is running

and c=1.6(a) alomost.

Interesting equation ,Lets look

at the structure of d to figure

out the internal wave structure.

Looking at the hourly chart to figure out the internal wave counts.

From the chart we can see 

abc structure forming in d leg

with a being an impulse and 

b being a expanding triangle

and c turning out to be a

broadening slanting ending

with e leg running .Its a ending 

pattern which usually is seen near 

tops and bottoms,Here its seen 

in c wave in correction ,So infy is a

nice stock to have in ones portfolio in each dip or for a trader its a clear buy above b ie 3340.

Keep close eye on this stock this has potential to scale 4000 + in e leg at least.

Regards
Rish

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