IDBI Trade setop

Hi friends,
                   A small short trade setup can emerge ,Below 67-66.50.
Let me put the chart to get the picture clear.

From the chart we can see
IDBI is in 5th of a hourly
impulse where 5th has
grown bigger in size price
wise and even timewise .
Now here 5th is making
a ending diagonal and its
almost complete and below
66.50 this stock can fall to
atleast 63 .


Trader can maintain a stoploss of 68 and plan this trade.
Lets see how stock performs in following days.
Regards
Rish

Nifty wave structure 29th april

Hi friends ,
                   Nifty continued with its slow drop.
I expect a bounce back today from lows  preferably 6750-6730
Waves suggest a wave is coming to end ,Let me put the chart.

Lets see how nifty reacts
to supports ,Overall i am of
the view ,Nifty is trying
abc correction and it should
finish a today so we should
see bounce back today .
Above 6820 ,I would be thinking
about alternate scenario.





Regards
Rish

Nifty Tests resistance

Hi friends,
                  Had posted in my last on nifty about resistance zone 6850-80
Nifty made a high at 6861 and reversed.
Lets see the nifty chart.

We can see from the chart
a expanding triangle like
shape had formed and it reversed from trendline resistance.
According to wave theory
a break below 6700 would
confirm c is finished and d
wave has started.
Track closely nifty if 6700
gives up c we can target 6600-


6580 ie d wave .This is short term top only according to me,Dips would be good to buy
stocks and quality midcap for sudden spurts.
Lets see how nifty performs in coming sessions.

Regards
Rish

Why learn Elliottwave (IDFC)

Hi friends,
                   Continuing with  my topic why learn Elliottwave ,Today i would show
example of IDFC,The stock which i tracked extensively,And was able to forecast its
move first loosely and later on with perfection.
IDFC TECHNICAL CHART This was dated 22nd jan,In which i forecast ed a small
rise followed by a fall towards 95 and then a rise towards 120+.
What happened in real small rise didnot come ,A sideways move happened few days
then a fall happened towards sub 90 levels and then a steep rally happened towards
128+(The actual high is 139 but that was a spike and was retraced fully intraday).

Then i posted this again few days before Banking license announcement
IDFC BANKING LICENSE HYPE ,In  this chart i forecasted a move towards 106+
buy was around 93.50 with stoploss at 92.80 and target was 106+ ,The stock went
much above that this was an ideal safe trade which i was able to generate because
i was able to see the bigger picture of this stock ,So i broke the stock into small parts and
saw lower time frame charts to figure out ideal trade.

Now again lets see the bigger picture

From weekly chart i see that
the stock did a WXY from
november 2010 top till
end august 2013 .A new upmove started from there ,This can be
a X wave or a new impulse of
a bigger degree which we can see
later on as the wave reaches
advance stages.



Let me put the structure of the rally from august 2013 lows.

We can see that stock did a abcde
from low of 76,Then stock corrected
and retraced towards 88 from a
high of 117.8 ,And again rose
in 5 wave up and started its correction,Now if this is an X wave it should not cross the slanting
channel trendline i made in
weekly chart ,Look at the
structure of fall from 139 closely


We would have a trade coming up here soon,Track this stock closely.

Regards
Rish