>MCDOWELL Elliott wave analysis

Hi friends,
                      Tonight trying to put waves for one of the great out performer of this market ,Yes am talking about MCDOWELL the mad bull 600 to 2800 in matter of 1 year.

 The first chart shows its long term waves which shows its in 5th up .The second chart shows the internal structure of 5th wave which looks to me is in terminal stage last rise kind it should kiss 3000 i think before topping .

Investors who had their share of highs should look to book profit slowly u see hangovers are quite bad after a long night of drinking.

Happy trading

>Nifty elliotwave analysis

Hi friends,
                    Time to revisit an old post about bull and bear scenarios NIFTY .As had told preferred count was bearish nifty made a top near 6090 level and has dropped to 5870,Very rarely or rather say have not seen nifty and banknifty moving in opposite directions july month banknifty gave negative return and nifty gave positive return .The following chart gives my view on nifty for coming months .I expect nifty to hold 5800 and then attempt a rally towards 6050 and then fall towards 5500-5400,These levels can stretch would revisit them when required.

I would reckon banking would be first to bottom,Nifty would find bottom later.

Happy trading..

>Reliance elliottwave analysis

Hi friends,
                    Reliance industries has been rising for sometime laborious move ,It fits well for the following wavecount we should start to see the weakness in it .
952 the previous high remains stiff resistance it reliance remains below that can go into a severe correction and go towards 750 .

Ideal trade would be short it near 940-950 or short bellow 870 stop loss 2% target 750 in about months time.

>Nifty elliottwave Analysis

Hi friends,
                  The nifty after initial hiccup managed to pull back above 5960 ,And has even scaled a new high things have changed a bit though i still feel its a corrective rally and we could be topping with in 6100-6150 .The following chart shows what i think about further structure.

Ideally nifty should start to be sideways to downward after some rise monday onwards ,I think in any case it should hold 5900 if we have to scale a new high again later.The red line shows the ending diagonal structure overall nifty upside looks capped 6100-6150 it can hover near that for some time before starting downward journey!!

Happy trading..