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Showing posts from September, 2013

Nifty: Anticipated Happened

In our previous article we had mentioned," Expect Nifty to move till 6050-6100 over short term as far as 5720 is protected on downside."- Bulls Eye!!

We were very accurate in capturing the entire move of Nifty from 5850 till 6142 which happened on 19th September 2013. Thus achieving our mentioned level of 6050-6100 levels.

We were continuously saying that Nifty has to move till 6050-6100 in many of our articles and reports. Nifty when made the high on 19th September 2013, was consolidating in a range of 5900-5800 before this day. However the entire world was bearish due to QE Tapering which was going to come of 18th September 2013. Unfortunately Mr. Bernanke postponed the date of tapering and as a result we saw 215 points gain on Nifty the very next day. It is always advisable to think objectively and stop following the crowd.


Elliott wave analysis and other advance concepts always helps to understand the current trend or the forthcoming trend. By using this concept we were ve…

Nifty: Elliott Wave Counts

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While majority of the broking houses and analysts believed that Nifty will move below 4800 and Indian Equity markets will start its multiyear bear trend, if this was possible what suddenly happened to Nifty?
Well combining advance technicals like Elliott wave analysis and simple technicals like channels, projections and retracements we come to know the possible targets, resistance and supports for particular index, stock, commodity and currency.
Nifty after making a low of 5118 never even moved below it and on same day that is on 28th August 2013 gave a reversal sign and closed near the high of the day. If we closely observe on that day it bounced from the lower end of the red channel and moved higher. We were also very sure that Nifty will find support near 5100-5050 levels which is 161.8% projection of wave A that we have marked on the chart. Using simple technicals not only helps a trader to know the possible up move or down move of particular asset class but will help to take proper…

NSE Midcap 50: Zigzag Pattern near completion

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NSE Midcap 50 is an index and consists of 100 stocks which include Adani Ent, ABB, Bharat Forge, Bhushan Steel, Biocon, CESC, Dish TV, Divis Lab etc.
NSE Mid Cap 50 Daily Chart





Analysis:
NSE Midcap 50 is moving lower in the form of corrective pattern. There are many corrective patterns, but the index is moving in a Zigzag pattern. Zigzag pattern has three legs (a-b-c) and is one of the simplest patterns to identify.
Here NSE Midcap has probably completed the last leg and currently it is moving in a positive direction. The index can move till 6800 levels over short term. A decisive move above 6800 will not only open further positive possibilities but will also give bullish break in falling red channel pattern. Momentum Indicator RSI has shown positive divergence (shown by blue line).
From wave perspective, NSE Midcap made a high on 9th January 2013 and thereafter it is moved lower in the form of 5 wave structure (impulse) which completed wave A. Then it move up in a 3 wave structure and com…

Bank Nifty Anticipated Happened

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Bank Nifty was the only index who showed tremendous weakness from past 2 months, but is there still pain left in this index?
The answer to the above question can be provided through advance technicals such as Elliott Wave analysis that gives us an objective answer. Combining Elliott wave along with simple technicals such as channels, retracements, projections helps us to understand the possible resistance and support levels.
The following excerpt is been picked from our research report. Bank Nifty 120 mins chart (Anticipated on 2nd September)



Bank Nifty 120 mins chart (Anticipated Happened)


Analysis:
Bank Nifty is an index which includes banking stocks such as SBI, ICICI Bank, Axis Bank, HDFC Bank etc. As seen in daily chart, prices in May 2013 made a high of 13414 and thereafter it fell down steeply particularly from July 2013. Prices have arrived near the resistance of the blue channel; a move below 8904 will provide a confirmation that the down trend is still to stay.
From 120 mins chart …

Maruti Suzuki: Elliott Wave Counts

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Maruti Suzuki was one of the underperformer stock in Auto sector, but is it still under performing?
This can be understood with the help of Elliott wave counts which help us to identify the important reversals. Combining Elliott wave analysis and simple technicals such as Fibonacci retracement levels helps us to find out the possible target.
Maruti Suzuki 60 mins chart

Maruti Suzuki, Tata Motors, M&M, Bajaj Auto are Auto mobile stocks which comes under auto mobile sector. As shown in daily chart, Maruti made a high of 1774 in the month of May 2013 and thereafter it is moving down in a falling red channel. Currently prices are quoting at the support of the lower trend line, also RSI has exhibited positive divergence which opens positive possibilities. Now it is important to see a positive confirmation in this automobile stock which it gave today by moving up about 4.54%.
From 60 mins chart, prices bounced from the lower end of the channel and gave a bullish break along with RSI exhibi…