BANK NIFTY

Attached here with is the Bank nifty chart.

Banknifty is in massive consolidation, which can turn out to be very well an extended 5 on upside it close above 9350 on hourly basis. The flag itself can propel banknifty by ard 1000 points up.

Similarly on the downside, a Break of trendline could put in place Corrective Count on Bank Nifty and will be needed to be analyzed on EOD basis. As of now trend zone seems to be 9350 on top and Trendline (A) at the Bottom.

Check the attached Chart.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
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GOLD

GOLD














These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

I need to visit my previous posts and put a follow-up action. However, will do it later..

As of now, i am posting possible scenarios for Nifty.

The studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

CNXIT and INFOSYS

CNXIT along with Infy and HCLTECH added. Both Infy and HCLtech are showing DOuble top. In case of double top, i woould be short with stop loss above the zone of Double top. Its just me no advice nothing..









These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

Bear Points: The Auto Sector

In this post i shall put forth my views on Auto sector, the champion of recent rally.

Lets try and put forth things
1. Maruti : Chart has Major Top Head and Shoulder
2. M&M : A Beautiful Ending Daigonal in place
3. TataMotors: Still Strong up, infact has made a Flag formation and is up. Today's candle is a spinning top at the top, if it has to be Bearish is has to be followed by Bear candle, but nothing major on chart for now.
4. Bajaj Auto: Moving up in channel precariously poised at the edge of channel, one push down and that does it.. :)


These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

M&M Mega Bear

M&M Mega Bear
Weekly chart of M&M for clear double top formation.
Daily Chart for Ending daigonal structure. Stock can see previous low..

Vivek



These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

Squiggles for 1 min chart of Nifty Dated 6th Nov 2009

I am attaching the one minute chart of Nifty for the 6th November 2009.

This chart is just an academic chart to show the existence of Elliott Wave relations within even 1 minute chart.

I have not added projection, planning to do that, but even i am amazed at how the wave structures are in place even to the last squiggles.

Vivek


chart courtesy: icharts.in

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

Hi all,

todays movement in Nifty adding elliott wave touch to it. And possible resistance to it.

My humble opinion considering the current down move as an Impulse structure (5 waves and keeping alternate count as double zigzag at its place): is we are in wave 2 upward, as was marked yesterday with a target zone of 4924 to 4860.

Current up move from 4608 which came to day end at 4784 is equal to A, marked in Orange color retracement. Now since this is zigzag, wave C can range from been equal to A to 1.618 of A. I have marked possible resistances on chart.

As per Elliott Wave principle book, wave 2 can retrace more than 61.8% as well, so if current action stops and we continue to trend upward, it would have higher targets which could also be 5033 zone. However, no banking on that for the moment.

Tomorrow's price action shall help understand the further course of action.

Now, just on broader basis, lets the current upmove end where it has to end. Currently i am assuming previous high or 5033 won't be taken out. Now first fall from 5167 to 4530 was 637 points. Currently we are in B which is yet to end. This down move can either be a zig zag of Wave 1 or a larger 5 wave impulse down.
Assuming, a structure of ZigZag is 5-3-5 wave, thus first leg will be of 5 wave, second of 3 waves and last of 5 waves. Based on the above structure, the wave C can be equal to A and can extend to 1.618 of A, in that case we can have a down move ranging from 637 to 1030 points from where wave B ends.


There is alternate scenario, but will check on that and then get back.

Edit: There is also a possibility that current upmove has ended, but i am not a believer in that since, 1 min chart shows no topping out structure. So lets see for tomorrow..





These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

Possible alternative count on Nifty

Possible alternative count on Nifty


These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding.
We are all students