>Petronet TRIANGLES

Hi friends,

                   Petronet has been trading in triangles for some time now.

First it was in a bigger triangle from last october till late jan 2017 ,It did break that triangle but again started to consolidate in a smaller triangle .

look for a fast move soon as its been consolidating for long time,367 is support for the stock and above 393 can move towards 420 and further towards 450.

>Banknifty

Hi friends,

                   In my last post on banknifty ,I had mentioned about resistance which should get overpowered eventually.

We can see from the chart the price is trading above the trendline resistance,Its been trading above it for a week now,A correction is expected only below 19900 in which case it can damage chart,So any fall below 19900 not good for banking stocks,Above it it would be taken as consolidation after a steep rise.

>INFO EDGE (NAUKRI)

Hi friends,

                  Infoedge was trading in a triangle for more than 2 years.

The squeeze is getting time consuming big move should come soon according to chart ,

As long as 786 holds a move towards 1000+ is open .

>HCLTECH Trade setup

Hi friends,

                  The following is hcltech hourly chart.

i am sharing a small portion of chart which shows a promising pattern this is to show how to come to a trade setup using elliottwave analysis.

From the chart we can count clear abcde up which is followed by a good time consuming abc till 780.From 780 we had a sharp rally till 835 levels and after that the stock is consolidating .

Trade setup here would be to buy this stock in dips till 780 is saved target would be around 870-880 levels,Track this stock in coming days to see how this moves .