Motherson sumi elliott wave analysis

I had written about this stock a month back ,Look at

the old post Motherson sumi elliott wave analysis.

The wave turned out to be a X wave as was discussed in old post.

We can see from the chart it tested upper trendline and fell back and is now dragging spending time .Overall a good buy above 320 or we buy near 260 ,Good parallel channel correction on.Keep this stock on radar.

Nifty elliott wave counts

Nifty at crossroad which way its gonna tilt,

Lets see possibilities we have.

We have 2 possibilities here first one a impulse down from top happening and we finished 4th at todays top.

This is more bearish case ,Impulse down usually suggests more pain after some pullback.

Lets see the other possibility.

This is corrective count which suggests once this correction gets over we head higher.This is wxy correction abcs connected by x wave ,Lets see which count plays out in coming days.

Maruti elliott wave analysis

I was excited to see electric vehicle with Maruti suzuki logo on it in 

global mobility summit ,A company needs to be with future technology,

Maruti has come of ages which is seen by the wonderful rally seen in stock 

price across many years.

Maruti the pattern has been evolving and the wave count is settling 

accordingly. I had written about it in july Maruti elliott wave analysis.

We did get a rally above 9230 ,The stock rallied till 9468 and then broke

back and went below 9230.Lets see the chart pattern now.

The above chart shows the rally till 9468 turned out to be b wave of abc fall and now c wave fall underway ,The stock has good support range in 8630-8540 range ,If stock goes below these levels,The wave count stands negated.

hdfc elliott wave analysis

HDFC has corrected from 2050+ to 1880.

Lets see the chart pattern how the waves are unfolding.

Lot of abc's in hdfc .The structure suggests a move towards 1960+ atleast as long as 1905 holds,Lets see how the stock behaves.