Stock Ideas: Astra Microwave
Astra Microwave Products has been trading in a range for more than a year, in what looks like a corrective formation. Chart Below: Legs A & D measure close to .786 of leg C. There is a high probability that we have finished the final leg E of the correction and […]
Nifty Post Brexit Strategy
Nifty’s sharp fall on Brexit outcome took support at 7936. It managed to stay over the crucial support of 7896 mentioned in our Nifty medium term wave count report. This report mentions 7896/7715 as crucial support in determining our most preferred wave count. We will continue to watch these levels closely. […]
Nifty prepping for whipsaw on Brexit vote?
Ahead of Brexit vote, Nifty seems to be prepping for a whipsaw action. Chart below: Nifty may be in a triangle correction as part of wave 4. There is a possibility of prices testing the 8350-8400 zone if a breakout from this triangle materializes. Such gains though may be sharply […]
Nifty & Sensex: Brexit Strategy
Nifty & Sensex managed a volatile week which was characterized by sharp gap opening actions. For 4 out of 5 days we saw indices open gap down or up. Characteristically all these gaps were subsequently filled. This points to these gaps being area gaps which indicate some kind of congestion […]
Nifty/ Sensex: Medium Term Elliott Wave Count
Our Valentine’s day report on Nifty outlined a possible Elliott wave count for Nifty. Specifically we were looking for an end to a possible triple zigzag correction. The markets since have posted a spectacular rally. As our regular readers would know many times we track multiple possible wave counts for […]
Since our last update, Nifty has been rallying towards our measured target of 8357-8410. Post RBI policy Nifty encountered resistance around 8300 levels. While the momentum has not been categorically strong. The fact remains that the corrections have been mild compared to what we witnessed in May. Below is the […]
Tata Motors rallies 3%. Should you Buy?
Tata Motors rallied by close to 3% on intraday basis which may entice many to jump into the ‘uptrend’. To be sure we have seen Tata Motors rally by close to 75% from its Feb lows. So one can be sure we have a substantial uptrend in place. On 31st […]
Nifty updated targets
Nifty/ Sensex have managed to break the April highs. In the process it has vindicated our stand on the post Mauritius treaty change price action being a correction. In light of this it is time to look at some measured targets for this current leg of the rally. As per Elliott […]
Nifty: A Ratio keeps repeating, will it work again?
With respect to Nifty, we have maintained that what we are witnessing in the market is largely a correction that should ultimately resolve to the upside. This assumption will continue to be valid unless we see a major downtrend 5-wave impulse move. There has been no evidence towards this so […]
In our last update On Nifty we mentioned Nifty would be spending more time in the range of 7781 – 7892. The markets have now spend a week in this range. Below is our most preferred wave count: Our most preferred wave count suggests that wave c of the three […]