Nifty 18th december

Hi friends,
                   Nifty is falling slowly for last 6 trading sessions.Strong support zone comes at 6100-6080
region ,If its held looking for a upmove else below this range fall can escalate,I m looking for a hold
of this range.

Regards
Rish

Nifty chart 13th december

Hi friends,
                       Eventually the gap got filled and nifty closed below that next support levels
come at 6200-6190 levels,From where a rise is expected towards 6300-6350 ,Lets see how nifty
reacts to this support zone.

So expecting supports of 6200-6190 to hold for now,Lets see what nifty does.

Regards
Rish..

Nifty chart 12th december

Hi friends,
                  Nifty continued to fall in the same slow fashion,But managed to hold the
gap and attempted a good rally intraday ,Though it breached the 6300 level which
failed the white impulse see old post nifty 

 So since the gap is still held and the trendline is holding too need to see if nifty manages to hold gap today too.

Regards
Rish..

Silver technical chart

Hi friends,
                  Looking at short term chart of silver its interesting.
 We had a leading diagonal 1 complex 2 followed by simple correction in 4th to finish a
impulse .Then we has a complex time consuming abc .
The abc correction retraced almost 85% of total rise at 18.88$.
I expect a rally towards 21.55$ minimum ir the trend line resistance,After which a small
retracement can happen,Overall i think a rally towards 25$ has started with in between small hiccups.The following chart shows my Elliott count.

This count stands wrong if silver drops below 18.88 $.Lets see how silver moves in coming days.

Regards
Rish

Nifty chart 11th december

Hi friends,
                   Nifty hovered in that range only today if 6300 is breached white impulse would
fail,Rest remains same ,Characteristic of this rally has been sudden gaps ups after few days of
sleep.

So till 6300 is saved the extended impulsive move would still be an active alternative count.Overall
stocks are retracing from their resistances.

Regards
Rish

Nifty chart 10th december

Hi friends,
                   4 states election results have come ,now nifty can move its technical move any distortion
happened by news flow should subside in few days max.The following chart is self explanatory..

The impulsive 12,12 suggests big bull case for that we need to hold the gap which
was created yesterday.

Regards
Rish

Sbi stock analysis

Hi friends,
                  Looking at the fall structure of Sbi from 2010 dec highs
Stock did a wxy till dec 2011,Then did a abc up for the full next year till dec 2012.
And has done a abc or 123 till 2013 September lows subject to 1970 holds(incase of 123)

Looking at a rally towards 1970-2000 minimum and then see further structure.Long traders should
look to book profit there.
The upward structure from september lows looks like a abcde up need to be watch full near 1970-2000,Till then all dips are buys in this stock.

Regards
Rish

Nifty chart 6th december

Hi friends,
                 The chart is self explanatory ,yellow suggests lower top,Its 5 down count
whereas red one is complex corrective up count which suggests a new high above yesterday.
Slowly the election fever is getting cured .

Regards
Rish

Nifty long term analysis

Hi friends,
                   Rechecking the big picture of nifty,Nifty has been sideways uppish for almost 3 months
now sideways up down move with continuous falling volumes.Meanwhile the badly battered midcaps rising back,Not an easy market to understand continuous sector rotation.IT has been sideways ,Pharma falling along with FMCG, Banking is been volatile with in between fast up downs,Out of the
heavy weights LT has been on a roll it did 700-1080in matter of 3 months.Reliance has been sideways with in triangle ,ITC has been falling a slow fall along with HUL.
Looking at nifty i am of the opinion we are forming ascending broadening wedge ,With each
leg getting broader and broader towards upside.

The above chart shows my expectation ,If you see the whole broadening pattern has developed on falling volume.We test 6400-6500 and drop back to make a upper
bottom somewhere near 5500-5600 and rise towards 6800-7000.My reading says we can have a fake breakout and then reverse back in broadening channel to test lower trend line and reverse back to make a new high .
I Track Hangseng closely and its too making the same pattern lets see the chart of hand seng

Quite similar to nifty structure,Overall we should hit upper trendline resitance by january 2014
till then buy all dips for gains ,Be watch full January onwards.

Regards
Rish

Nifty 5th december

Hi friends,
                  As i mentioned in my yesterday intraday post nifty looked to have made abcde in the correction  from 6228  till yesterday low ie 6150 ,Which i posed before market close nifty 4th dec intra ,Lets look closely how i was able to get my count adjusted accordingly  when i saw yesterday
intraday move .

So market didgive a hint about whats coming today.I have adjusted my count and this rise could be 5th up or e up and we can go to 6300 ie1=5 in due course

Regards
Rish..

Nifty intraday 4th december

Hi friends,
                   As expected nifty started corrected ,But looking at the structure its looking its making a abcde from top don't go heavy with positions.Its evenly poised for tomorrow ,Supports are not broken yet .
Don't go home with naked shorts.

Nifty 4th december

Hi friends,
                      Nifty was sideways to down most of the day yesterday ,It didnot give a close above 6212 ,Now a retest of 6150 looks eminent below which the fall can stretch towards 6100 ,Where we
have to look for a pull back.
Chart remains same as yesterdays Nifty 3rd december

Nifty 3rd december

Hi friends.
                   As mentioned nifty went on to test 6212 zone and hovered there full day,Now if we dont
close above 6212 and continue rise i would reckon we will be making another abc as shown in the
chart below ,I am looking at chart and trying to project the further move,Not like most analysts or
fund managers who have become political analysts and giving their targets.Let us see how news
breaks pattern.One thing which looks certain is nifty move from last 2 weeks is like a musical chair
game few rises few falls so ultimately its maintaining respective crucial levels .

Regards
Rish

Reliance capital elliottwave analysis..

Hi friends,
                  Reliance capital is been in a range for many months,Its making abcde up with e leg on right now which can target 400-420 levels

Now this abcde can be finishing a C of previous ABC or this could be a leading diagonal ,
Leading diagonal would be a bullish case in which after finishing abcde a abc correction happens finishing which the stock can take off and breach 420 levels which would be a breakout of multi year
slanting trendline resistance,At present scenario look to book around 400-420 levels and reenter at lower levels,Would post again once we complete more wave structure.
Regards
Rish

Nifty 2nd november

Hi friends,
                  Nifty went past 6156 and remained above that full day ,Next target above that comes at 6212 ,Till that's maintained it looks to be corrective in nature,I would watch the move of next 2 days to ascertain the structure underway .

overall select midcaps continue to outperform irrespective of nifty movement as its range bound.
Stockwise HUL looks attractive out of large caps along with IT majors.

Regards
Rish

Nifty 29th november

Hi friends,
                  Nifty continued its lackluster slow downward move for most of this week ,From
the look of the chart and the present few days of slow updown move suggests one more pattern
formation a triangle which is shown in below chart

With expiry being over nifty can slowly start its technical move

Regards
Rish

IRB Infra Elliottwave analysis

Hi friends,
                  Lets check the wave structure of Irb infra ,August 2010 Irb started to fall
the entire fall can be resolved into wxy ,The below chart shows the wave labeling clearly.
The firstfall resolved into a falling wedge followed by a simple abc .Right now its trading
near a very crucial juncture near 100.Above 100 this stock is heading towards big targets.
Above 100 this has potential to double in a years time max.

Keep this stock on your radar ,I would reevaluate it regularly to check what it does over a
period of time.

Regards
Rish

Nifty 26th november

Hi friends,
                    Nifty managed to stay above 6060 and went on to test 6100+ ,So i have started to think about a alternate count too which says we have finished c near fridays low.
Validity of this count holds if any fall which comes stays above 6060.
In case we breach 6060 the original count of b up remains valid,With december approaching and modi factor being hot topic among punters volatility gonna increase only.
Fot today any rise above 6120 would be considered positive and target of 6200 gets opened whereas if 6060 gets breached we head towards 600-5970

Regards
Rish

Nifty 25th november

Hi friends,
                   As said in previous post below 6100 support was 6060-50 which was too breached in the due course of the day final support comes in range of 5960-70  below which we directly target 5830-5800 upmove if any would be strong only above 6060 .

How i streamlined my trading

Hi friends,
                    Weekend post ,I would like to share my experience i gained during my last 8 years as a Trader and adviser.
To start off i was like any newbie who used to buy and sell on anybodies advise ,And enjoy the adrenaline rush when the trade used to be in favorable direction on the other side get sad on every loss trade .This happened for quite some time ,It had to stop someday ,Well i had to stop as my trading account was down to almost zero!!.

That day onwards ,I started to look for traders or advisers who used to give trade calls and it used to fascinate me few of them regularly hit the right traders ,So i got one thing straight this can be done.
I zeroed in on Elliott wave as a tool to build my trade setups ,Had countless battles on stockviews arguments etc on yahoo and google groups each battle saw me coming out with a new experience ,Slowly i started to get a hang of how waves were unfolding in market
.
I tried mastering few trading setups and kept looking for their reemergence ,Slowly got confident and  started to make some money on my own trades .I lost money only when i deviated from my trade setup or some last minute changes in trading plan ,These mistakes i still do human mind after all but i always look to minimize these hiccups.
Would further discuss on this if  you fellow traders would like to know more let me know your experiences as well it helps in building a trading mindset to run along with live market which is full of cacophonies..

Regards
Rish    

Jindal steel elliottwave analysis

Hi friends,
                    Looked at jindalsteel this could be forming a nice trade setup.Lets count waves from
180 levels It finished a abcde till 265 .
After that a time consuming b is evolving my expectation c of b is underway and the stock can fall towards 225-220 over some time after which it can rise towards 260,270.
Track this stock closely if the waves unfold the way i expect we have a nice trade on hands.

Regards
Rish

Nifty 22nd november

Hi friends,
                   We saw 6100 breaking and we tested 6065 with ease and further the wave gathered steam and we at one point of time tested sub 6000 levels ,We are nearing end of a wave after which  a relief rally ie b wave up should come some time from today lasting till monday or tuesday after which fall would continue..looking at 5960-5950 for bounce area..

Regards
Rish

INDUSIND BANK Elliottwave analysis

Hi friends,
                   Let us look at indusind bank waves ,Its quite clear we saw 5 down from may top till end september and after that big abc is underway of which a is finished b is underway.

The b wave further again getting resolved into a abc of which ab is finished and c is underway the following chart is self explanatory looking for a fall till 360-350 ,Before things look upbeat for this stock.

Nifty 21st november

Hi friends ,
                     Nifty reacted to 61.8% retracement resistance and fell back it should test 6100 atleast and then make pattern for further move below 6100 potential

to test 6060 is high  would be following it closely as nifty is at a important juncture ,Which opens up nifty for 300 points move either side would track it closely.

Nifty midcap index midcaps buzzing

Hi friends,
                   off late we have seen select midcap stocks have started to buzz and irrespective of market movement they have been running ,Looking at the midcap index chart ,It shows a contracting move of  triangle in process ,Each wave has 3 waves so a classic triangle or a flat possibility arises.

Presently d wave of triangle is unfolding with first leg ie a leg of d almost getting over and b can start after which a rally towards 8500 should happen.Gist would be to buy select midcaps in dips for handsome gain for next month second half .

Regards
Rish

Nifty 20th november

Hi friends
                  Nifty reached to the 61.8%  of the fall retrace yesterday and was struggling to cross that looking for a reaction at this juncture and see if it looses steam or goes sideways ,Today would decide further move of nifty for next few days .

The bullish part its trading above the trendline .

Regards
Rish

>BPCL long term wave counts

Hi friends,
                  Let us see how elliottwave helps in constructing a trade set up and how on each time frame we can apply it.
Bpcl on long term charts look to be in C of big ABC

Now looking at the structure of C it looks to be making a ending diagonal with e leg running
ie last abc is on a is over b running after which c rally can start towards 450

look for a nice long trade in this script around 300-310 for a handsome gain of 20-30%.

>Bharti Airtel Elliottwave Analysis

Hi friends,
                  Bharti has been move in contracting channel for years together ,According to the present structure it can stretch max till 380-400 ie the d leg of C ,I would be looking to book longs and see for shorting opportunity near resistance ,The e leg can take this stock all the way to 250 levels ,From where a multi year bull market can start in Bharti airtel.

If the resistances are breached the expected fall may not materialize ,Keep the stock on your radar..

Regards
Rish

>Indiabull realestate technical analysis

Hi friends,
                     India bull realestate is forming a nice pattern lets see how it performs after this
I saw a falling wedge breakout in it and its retesting the breakout line again (58-56) then it can rise
towards 72-75 .

Risk is less in this trade idea as supports are nearing.

>Reliance Industries Technical Analysis (Elliottwave analysis)

Hi friends,
                   Reliance industries has been trading in a range for last several months ,This contraction should give way to a smooth one way move ,Above 930 stock can give 100 points move in a short span of time ,Otherwise the contraction continues .

Keep track on this super heavy weight this should show nifty move for coming months.
Regards
Rish

>Nifty elliottwave analysis

Hi friends,
                   Writing after a long gap. Hows market treating you ,Must be good i assume with all time high at a striking distance.
Well in my study i had anticipated a rally from 5100 max till 5950+-50 ,Which nifty overshot handsomely.
At present so many ifs and buts in the picture many counts look active ,So i thought let me share few scenarios which i think we have at present and let market

decide ultimately which way it moves:).

The above 2 charts show mega bull and mega bear case .Mega bull case its 3rd wave on from 5100
but looking at the different sectors it looks differently all are not in sync aloso no volumes to support 3rd wave case  which gives hint it may not be 3rd wave afterall.
Mega bear case considers it a broadening ending with E wave on after which we breakdown .

One thing which am getting confident is we cant have a rally without a consolidation

Lets try to analyse the rally from 5100

Lets see over the next one week how nifty shapes up which would give us further clues about whats in store for us.

>Nifty elliottwave analysis (bigger picture)

Hi friends,

                  Nifty did perfect move as was predicted 5750 nifty  and phuss ,Now with nifty joining broad based market move ,There was a need to see bigger picture
The chart shows clear waves ,Its self explanatory monthly chart which suggests move all the way to 4500.
The green trendline which comes near 5250-5200 wont be broken soon there  should be a nice relief rally from there i think. So till 5500 is not broken upward just trail shorts. 5300 onwards need to be careful in shorting ,Would post lower time frame charts soon as the move matures..

Happy trading

>Nifty elliottwave chart

Hi friends,
                   Nifty  pretty much moved the way i expected it for sometime now ,Until recently when i expected 5600 to hold ,But nifty breached 5600 and went all the way to 5500.

Overall not much has changed with the 5600 breach its almost certain we not going much higher now
we are below trend line supports at most we can go and retest them ie 5750 max ,I expect this sideways uppish move to happen for sometime before the next leg of down move starts .
Have labeled the nifty move .

Happy trading..

>IDBI elliottwave analysis

Hi friends,
                   Just thought of sharing IDBI analysis look at the beauty of patterns which happen on all time frames be in intraday or daily even monthly.
From the chart its seen we had finished a 5 wave up move by the year 2006 and from 2006 to 2013 we are making a expanded triangle which is in its last leg down ie e down .All those investment lovers should get ready to closely watch this script .

Keep looking for more such picks .

happy trading..

LIVE NEWS

>Nifty elliott wave analysis

Hi friends,
                   Nifty has broken 5800 and tested an important support zone 5680-5620 ,I expect nifty to hover here and attempt a rally towards 5850 or 5950 and then again resume downward journey.Be watchfull if shorting here shorts now only below 5600 or on upside.

Stocks have been falling like there is no tomorrow be very selective with stocks buy stocks only when nifty reverses don't try to be a early bird it can be injurious to ones financial health .There is nothing called cheap stock in bear market and nothing called expensive stock in bull market ,Trade wisely.

Happy trading

>MCDOWELL Elliott wave analysis

Hi friends,
                      Tonight trying to put waves for one of the great out performer of this market ,Yes am talking about MCDOWELL the mad bull 600 to 2800 in matter of 1 year.

 The first chart shows its long term waves which shows its in 5th up .The second chart shows the internal structure of 5th wave which looks to me is in terminal stage last rise kind it should kiss 3000 i think before topping .

Investors who had their share of highs should look to book profit slowly u see hangovers are quite bad after a long night of drinking.

Happy trading

>Nifty elliotwave analysis

Hi friends,
                    Time to revisit an old post about bull and bear scenarios NIFTY .As had told preferred count was bearish nifty made a top near 6090 level and has dropped to 5870,Very rarely or rather say have not seen nifty and banknifty moving in opposite directions july month banknifty gave negative return and nifty gave positive return .The following chart gives my view on nifty for coming months .I expect nifty to hold 5800 and then attempt a rally towards 6050 and then fall towards 5500-5400,These levels can stretch would revisit them when required.

I would reckon banking would be first to bottom,Nifty would find bottom later.

Happy trading..

>Reliance elliottwave analysis

Hi friends,
                    Reliance industries has been rising for sometime laborious move ,It fits well for the following wavecount we should start to see the weakness in it .
952 the previous high remains stiff resistance it reliance remains below that can go into a severe correction and go towards 750 .

Ideal trade would be short it near 940-950 or short bellow 870 stop loss 2% target 750 in about months time.

>Nifty elliottwave Analysis

Hi friends,
                  The nifty after initial hiccup managed to pull back above 5960 ,And has even scaled a new high things have changed a bit though i still feel its a corrective rally and we could be topping with in 6100-6150 .The following chart shows what i think about further structure.

Ideally nifty should start to be sideways to downward after some rise monday onwards ,I think in any case it should hold 5900 if we have to scale a new high again later.The red line shows the ending diagonal structure overall nifty upside looks capped 6100-6150 it can hover near that for some time before starting downward journey!!

Happy trading..

>Nifty pre market 16th july

Hi friends,
                   Yesterday nifty touched its resistance zone 6030-50 old post NIFTY  had mentioned be watchful a correction pending we can retest 5900,5850 in coming days ,I have been able to pin point this move minutely till now ,I hope its helping traders to take their trade decisions.
Happy trading...

>Nifty pre market 15th july

Hi friends,
                     Nifty moved perfectly the way i anticipated we saw a rally from 5760 to 6000+
and yes it made a triangle before rise as was discussed before.Now i see a impulse getting over near 6030-50 levels so we are reaching short term top we need correction or sideways move to confirm impulse end.

WATCH out today for resistance zone..

Happy trading...

>Nifty premarket 11th july

Hi friends,
                   Nifty moving exactly how i had anticipated in advance a triangle shape has developed
which i had posted on 9th itself nifty .Now above 5920 nifty can see good rally else this could be still in d wave of triangle with a,b done and c should happen today.

Happy trading...

>Nifty 10th july

Hi friends,
                    Not much changed from yesterdays post nifty moving the way showed
in last post NIFTY .Resistance comes near 5880-5900 levels ,Be watch full from 5880 levels.

happy trading..

>Nifty pre market 9th july

Hi friends,
                   Nifty fell to 5770 and again went sideways uppish this could lead to a triangle shape so this could be a alternate scenario

lets see todays move it would clear if triangle is in progress..

Happy trading..

>Nifty elliott wave analysis

Hi friends,
                  Nifty moved widely between 5760-5900 for last 4 trading sessions ,5900 looks stiff resistance for now ,Sort of double top now it looks evident that we would retest 5750 atleast before
reversing in a severe selling case we can even see 5700-5670 ,We would see that later.

The above chart shows expected movement for the month .

Happy trading

>Nifty premarket 5th july

hi friends,
                  Nifty after testing 5800 went below that 5760 and came back above 5800 now above 5850 if nifty sustains we can see 5920 from where we can see further move .FMCG has again started to support nifty.This month being result month move can be stock specific.

Happy trading..

>Nifty premarket 3rd july..

Hi friends,
                    As expected the slow drop of nifty has started expecting first support at 5800 hope many saved their long profits.I expect this slow drop to continue till we see 5800 then we can check the further move.

Happy trading..

>Nifty premarket 2nd july.

Hi friends.
                  Expectation was nifty would start to loose strength around 5870 onwards we had a test of 5900 yesterday today we need to see the reaction as its on trend line resistance .

Happy trading..