Elliott Wave Theory

[1sandeepgupta]

I am posting weekly chart of CAIRN. Five waves has completed. It has been in correction mode since 20-08-2010. It has almost completed triple three pattern, there is support near 248 level. If it takes support here then we are in wave [3] or we can remain in correction. See how wave [2] unfolds further.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[1sandeepgupta]

I am posting weekly chart of RELINFRA. It seems we are in prime wave [3]. Buy near 658 with stop loss of 610 and target of rs. 775.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[prabhsingh]

Posting Hourly chart for HDIL and it seems 5 Wave upmove has been completed.Short can be intitated immediately or for less risky trades wait for 84 to be broken.

 

[1sandeepgupta]

I am posting weekly chart of DRREDDY. Wave (3) is somewhat greater than wave (1). 100% and 161.8% extensions of wave (1) are at levels 3737.04 and 4656.86 respectively. On these levels wave (5) may terminate and correction may follow.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[prabhsingh]

Posting Hourly chart for HDIL and it seems 5 Wave upmove has been completed.Short can be intitated immediately or for less risky trades wait for 84 to be broken.

HDIL made a low of 80.85 which is 61.8% fib ratio as stated in chart.Not sure how many of you able to capitalize profit on this call.

 

[1sandeepgupta]

I am posting weekly chart of AXISBANK. Now wave (5) is equal to wave (1). There is negative divergence between peak(3) and peak(5) and wave (5) has almost reached to the upper channel line. This may be the termination of wave (5). A correction may take place up to the level of 407.29.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[coolbull]

hi sandeep!

good stuff, Have u tried on Nifty / bank Nifty...intraday or Weekly......?

 

[1sandeepgupta]

hi sandeep!

good stuff, Have u tried on Nifty / bank Nifty...intraday or Weekly......?

I mainly concentrate on stocks and analyse on daily, weekly and monthly charts. Thanks.

 

[1sandeepgupta]

I am posting weekly chart of TECHM. Now wave (5) is twice to wave (1).Wave (5) has reached to the upper channel line. This may be the termination of wave (5). A correction may take place up to the level of 2350 or if it is broken then to 2050.

Disclaimer: This and all the ideas I present are for educational purpose only.

 

[prabhsingh]

I would suggest my friends to go Long on IDEA.Its forming ending diagonal pattern on weekly timeframe hence buy buy for target of 195.