>MRF wave structure

Hi friends,

                    MRF had a super run ,It made a triangle and broke it up ,Sure many would have bought that breakout ,Ever since the stock kept dragging down (slow drop ) .

The above chart shows the triangle and the retrace after breakout which has retraced .Lets see the fall closely. On a hourly chart .

The hourly structure shows a triple zigzag unfolding wxyxz right now in z .Stock looks to do good in march expiry should be bought in dips ,This can target 56000 easily.

>APOLLO HOSPITAL wave structure

Hi friends,

                  Checked a interesting chart APOLLO HOSPITAL.The chart has got clear waves.

let me put the chart.

The chart shows us how the stock topped by making a wedge or ending diagonal in elliott wave terms

From there the stock started to drop and the stock fell in pattern and made a wxy correction which is labled in chart,Look at the parallel channel the stock is maintaining in the correction,1330 is steep resistance now for the stock,

>Nifty wave structure

Hi friends

                 Looking at nifty which is still shy of  high made in sept 2016 unlike banknifty which has taken that high convincingly.

Lets look at the daily chart of nifty .

From the chart we can see an important resistance is approaching ie 8925-30 .Bank nifty has taken this resistance already nifty os lagging banknifty this time all because of super heavy weight HDFCBANK rally.Lets look at the rally from sub 7900 levels closely .Let me post hourly chart.

The move is fast with small interrupts inbetween ,From this 8700 is a strong support for now and till thats maintained stock specfic action looks to continue on the upside resistance to look for would be 8925-30.

>Reliance elliottwave analysis

Hi friends,

                  Reliance has been sideways for almost 8 years without showing considerable move.

Its been trading in a triangle ,Which can be seen in following chart.

The range is getting squeezed as seen from the chart ,abcd is done and a small triangle is again in process,A closer look at the chart shows the internal waves as shown in the following chart.

From this chart we can see 1150 is the breakout level for this triangle ,Internal waves of triangle suggests wave e is pending we have to see wave e goes deep down or remains sideways overall above 1150 this stock can go in new territory.Keep a watch on this stock would update when wave structure gets ripe.