Ultratech Technical chart

Hi friends,
                    Ultratech is looking to come out of a squeeze which is happening for some time
lets look at the Ultratech Technical chart,

Looking at the chart we can easily see it finished a wxy at 1634.From there we had a nice A or 1 up
and then a correction started for the rise,In correction i see every leg has got 3 waves so
a kind of squeeze or triangle underway.
Lets look at the squeeze closely.

So this stock has potential to go towards 1780 provided 1660 holds.
So here we have a nice swing trade setop buy in range 1680-85
stoploss neat 1660 and target 1780 .
Need to be carefull neat 1710-1720 reason once thats crossed 1780 would be
coming soon.

Regards
Rish

Adani Technical chart

Hi friends,
                    Lets look at Adani Technical chart ,The stock rallied from last year september
till mid of december 2013,And after that its in downward move slow drop in parallel channel.
Lets see its daily chart.

So we can see the correction is maintaining a parallel downward slopping channel.
Lets look at the correction closely ,On hourly chart.

From hourly chart we see that we have finished abc correction and again started another
abc correction ie 2 abc corrections joined by a x wave so eventually a wxy correction is on
right now we are in y leg which should minimum do 225 which is downward channels
lower trendline.Once wxy gets complete we should have a good long trade on our hands.

Regards
Rish

Nifty Expiry day Intra movement

Nifty after gap down is moving in a range till now and its making
a squeeze .

In my old post had told a=c would be 6070 and we are trading below that right now 

so a wave stretch can happen,Else it has to pull back above 6070 soon.

Look for old post on nifty here Nifty technical chart .

Bulls can have a positive expiry only above 6070 ,Bears on the other hand if we remain below 6070
can stretch towards 6000-5980.

Regards
Rish

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