>Banknifty elliottwave

Hi Friends,

                     Today banknifty tried to break the trendline resistance,The below chart shows the trendline.

Lets see how it behaves in coming days 

as the resistance is hit.Ideally this resistance should be taken out in coming days ,Lets see how the price behaves which would give further clues about future movement.

>MARUTI elliott wave counts

Hi Friends,

                   Maruti the relentless BULL,This is moving one wave since 2012.

A 2 year consolidation correction (2010-2012),Since then its one way no correction more than 6 months.The stock has gone almost 6 times in over 5 years.

The above chart is weekly chart the waves look so clear in it. We have a clear impulsive move lets break it down,We had a leading diagonal in wave 1 and then a multiyear 3rd wave .

Presently 5th wave is on which is last wave up before abc correction unfolds.

Posting another chart Maruti daily to have a closer look at 5th wave.

From the above chart look at the trendline drawn to look for the end of the trend .Once this trendline breaches the move is over for quite some time.Many investors who have bought for long term in this range should be careful at these levels if the trendline breaks down .Keep eye on this trendline would touch on this again in coming weeks.

>LUPIN Elliott wave counts

Hi Friends,

                    Pharma had been a darling of investors ,But off late most of pharma have broken their

long term trendlines or rather say many have broken their supports .

Today i am discussing a pharma major LUPIN which has been in a time consuming correction for over an year now.

Lets try to open up the chart and lable the waves.From 2100+ to a low of 1280 abc was done .From 1280 to 1750 again abc was done we can lable it as X wave.

From 1750 till now we have done a wave followed by a time consuming  triangle in b wave which is still on .

which suggests a fall towards 1300 can come in c wave ,The move after triangle follows the move which was before the triangle.

On the other side ,A move abpve 1580 -86 would negate this count.Lets see over the coming weeks how the stock moves.

>Dabur elliottwave counts

Hi friends,

                        The chart we would discuss today is DABUR ,The stock is under correction 

since july last year.We had a nice abc correction b being a triangle.

Further the stock revounded sharply in an X wave ,Followed by a time 

consuming abc correction.

So we had abcXabc correction till 260

Now the upmove has again started which can be a new wave or a X wave again,

How do we acertain the correction is finished or its gonna still continue.

Few things to look for,The stock is 

still in the parallel channel so till it remains in channel the correction can continue ,The channel resistance comes at 290-95.

So we see how the stock reacts near those levels to figure out the further move of the stock ,Track this stock would update further on the move.