Axis bank chart analysis

Axis bank was the laggard in private sector banks,Offlate this stock has 

been in bulls list and has seen break from 4 year consolidation triangle.

lets look at its chart ,

Monthly chart

This is monthly chart can see how big triangle consolidation in 4th wave and now breaking out

from it,For 5th wave move.

This chart shows 4th wave consolidation off late the stock is witnessing good volumes ,

Lets see the 5th wave closely.

5th still got lot to do ,We had a deep 2nd wave ,Above 680 move can go explosive ,buying in 

dips is good in this stock for delivery, A 4 year triangle break can give a good upmove .For FNO trade still need a better trade setup as the swings are wild so risk needs to be managed.

Housing finance companies

Housing finance companies saw big dumps and 

they went in consolidation after the dump. DHFL ,INDIABULL HOUSING

 to name few ,Both look to have fallen in impulse .

Ibulhousing 880+ is stiff resistance for now ,Need more time for a trading setup as pattern is 

still on.

DHFL too saw a deep cut in september this was the first housing finance company to fall

big time ,Still this is not able to recover much after the dump above 250 only the stock would

show strength.

Would be interesting to see this qtr results of housing finance companies..

Techmahindra elliottwave analysis

This stock has been whipshawing for quite some time

lets see the internal waves to figure out what the stock 

is up to.

The above chart clearly shows the stock is in timeconsuming triangle which has a breakout above 735

and breakdown below 670.Wave says some more time in traingle before its ripe to break it. Track the stock for good move after finishing triangle keep levels handy.

ICICIPRU update

The stock gave a good spurt last few days ,I had told about 360+ 

in my last post icicipru elliottwave analysis. The reached 360+ the congestion range

and is consolidating.

Now further move up comes above 364 ,Which take stock up further towards 380,400.

Support for now comes at 332+ ,A good impulse looks to be building up from the C low.