METAL INDEX ELLIOTTWAVE ANALYSIS

BEAUTY of chart i had posted this on june 20th.

The price hovered for some time near yellow dotted line and it has indeed come to touch green line 

and bounced back . posting the new chart.

This has potential to retouch 3500-3550 levels in due course. A wxy correction is done probably a 

X wave is on,I would revisit this after sometime lets see how the index behave in coming weeks.

HDFCBANK

HDFC BANK trading at crucial point

lets look at the chart.

This is hourly chart we have finished a wxy correction or about to finish. 2110 is very good support

if this is held expect good bounce .

private banks offlate are bit into profit booking lets see how this trades tomorrow.

HINDALCO

A massive abcde up on monthly chart 

 spread over many years.

The stock is retracing after breaking out the rally was big so this can consolidate for a while before 

going further.lets take a closer look to the current correction.

A slanting channel correction is on probably the stock an oscilate between 190 to 240 for

quite some time breaking this range on either side we can draw the further pattern .Metals

are in limelight thanks to tradewar !!.

FEDBANK

Fedbank a nice 5 up and then wxy correction

nice move in channel correction soon reaching trendline resistance in range 95-98 

level to watch for further up move is above 98 only .If fails to cross expect this rally 

to be a X wave.Lets see how stocks trades in coming days.