Nifty and midcap index

Dear friends,

                       Nifty made a top on 1st dec wheras midcap index made top on 15th dec .

Nifty fell 5.9% high low and Midcap indec fell 8.6% high low. I scanned nifty 500 to sort which stocks under performed and outperformed.

The above stocks outperformed ,Mostly pharma stocks ,Covid scare did the trick .So even though the index fell by over 8% these stocks ran hansomely. Lets see underperformance.

The above list shows the big fall witnessed by stocks ,Many psu banks in the list,They shot up very fast too so saw a melt down .

Nifty WAVES

Nifty fall from 18887 structure.

The fall looks corrective and probably nearing end of wxy.A meaningful bounce is in offing.Fresh short are not advised at these levels.

Capacite infraprojects Trade setup

Capacite has made a nice trade setup. A 4th wave low is in for a 5th wave rally .

We have a inverse head and shoulder pattern forming too with right shoulder in formation.

The stock has potential to hit 195-200. This pattern holds good as long as stock holds 128.

Ideal trade would be to buy this in steps in dips.Above 156 the stock would be in momentum and can rally fast.

PSU BANKS 3rd wave examples (Elliottwave)

Hi friends,

                  A post after a very long time ,PSU banks are on a tear 3rd wave at play lets look at few charts,To figure out the move.

Lets see union bank chart 

The volume brust and relentless rally confirms 3rd wave characteristics ,(108-112) range can give resistance thats (1.61)of wave 1.Lets see how stock behaves there.

Lets check PNB 

This was mostly the laggard most of the time ,This time it took off 50 resistance ,68-70 range is good resistance point for stock..