Patterns in RCOM, TataSteel, PNB, Voltas, Hindalco, IDFC

Tatasteel:
5 waves completed at 432.90 from 332 as 1st of (4) wave. Now, for wave 2, correction will be in 3 waves as ABC.
The fall from 432.90 till 404 seems to be in 5 waves. Based on 30th Apr price actions, we will come to know whether A is completed at 404 or more low is on cards.
Once, A is completed look for retrace for the fall from 432.90 till lows (as of now 404). Retrace are as below for 432.90-404:
410.82, 414.98, 418.45, 421.86, 425.27, 427.12

Pattern may form: HNS
After forming 'Rising Wedge' pattern and hitting its targets (417.35 and then 405), TS may form HNS pattern.
Neckline: 404.75 - 404; Shoulders - 416.75 - xxxx (should restrict the upmove around 416 where there is clustor resistence
If restricted at 416 (aprx), then look for below targets on downside after breaking of 404:
Breakdown below 404, Tgt 1 = 392; Tgt 2 - 375.10, keeping SL at 410.

RCOM:
Breakout above 135.40, tgt 1- 139.90. tgt 2 - 147.25. SL 133.10
Breadown below 131.25, tgt 1 - 126.75, tgt 2 - 119.40, SL 133.50

Voltas:
Rising wedge in daily charts:
Breakdown below: 163.30, Tgt 1 - 157.70 (Done), Tgt 2 - 144.45, SL - 167.10

IDFC:
The prices are correcting in a channel for the rise till 139.
In this correction, falls are in 5 waves and rise are in 3 waves. If we observe the recent rise, is in 3 waves.
Hence, expecting the fall from 116.40 till channel support (should come near to 104) will be in 5 waves.
From 116.40 till 113.65, 1st sub wave might have done. Around 115 - 115.85, 2nd sub wave may get complete.
Short between 115-115.85, keeping SL at 116.40 for the target neat to 104.

Hindalco:
Rising wedge in daily charts:
Breakdown below: 136.30, Tgt 1 - 131.15, Tgt 2 - 122.80, SL - 138.90

PNB:
Rising wedge in daily charts:
Breakdown below: 780, Tgt 1 - 753.80, Tgt 2 - 711.40, SL - 791.10

Tatasteel and Voltas hit the target with the bang !

Tatasteel:
It was observed that TataSteel short term top was made at 431.90 and may correct henceforth. Below possible trade was identified:

Breakdown below 425 (in 1 hr chart), tgt 1 - 417.35, tgt 2 - 405, SL 428.85

Tatasteel was able to reach to both targets.

Voltas:
It was observed that Voltas short term top was made at 176.45 and may correct henceforth. Below possible trade was identified:

Breakdown below: 163.30, Tgt 1 - 157.70, Tgt 2 - 144.45, SL - 167.10

Voltas was able to reach to its first target and may reach to its 2nd target as well.

RCOM: SL hit today but during last hours of trading again broke below 131.35. Let's see what is next

PNB: Didn't trigger today.

Patterns in RCOM, TataSteel, PNB and Voltas

RCOM: 
Triangle can be observed in RCOM Daily chart
Breakout above 135.40, tgt 1- 139.90. tgt 2 - 147.25. SL 133.10
Breakdown below 131.25, tgt 1 - 126.75, tgt 2 - 119.40, SL 133.50

TataSteel (Daily Chart):
Rising Wedge, Breakdown below 425 (in 1 hr chart), tgt 1 - 417.35, tgt 2 - 405, SL 428.85

TataSteel (Weekly Chart):
INHS Pattern in making which has breakout above 432 (on weekly close basis).
Tgt 1 - 535.50, Tgt 2 - 672.20 keeping SL at 380 after break out

Voltas:
Rising wedge in daily charts.
Breakdown below: 163.30, Tgt 1 - 157.70, Tgt 2 - 144.45, SL - 167.10

PNB:
Rising wedge in daily charts.
Breakdown below: 778, Tgt 1 - 751.80, Tgt 2 - 709.40, SL - 791.10

RCOM Chart for 28 Apr 2014

Two Patterns are in making in 60 mins chart.
1. Triangle:
Breakout above 136, tgt 1- 140.60. tgt 2 - 148. SL 133.70
Breadown below 131, tgt 1 - 126.40, tgt 2 - 119, SL 128.70

2. Bull Flag: BO above 134.40, tgt 1- 137.55, tgt 2 - 141.15, SL 132.60

Tatasteel Chart for 28 Apr 2014

Rising Wedge can be observed in 60 mins chart.
Breakdown below 425 (in 1 hr chart), tgt 1 - 417.35, tgt 2 - 405, SL 428.85

Note: Target Achieved of 432./432.70 for IHNS and Rectangle (given on 22 Apr)

IDFC Chart for 28 Apr 2014

RCOM Chart 23 April 14

Preferred EW counts are marked in Green.
Last and final wave 5 might have started from 128.55. This 5th wave should be in 5 sub waves.
1st of 5th wave might have completed at 134.10. Now 2 EW options are in play
a. 2nd of 5th completed at 132.05 => In this scenario, current sub waves of 3rd of 5th should make new high without breaching 132.05
b. 2nd of 5th is irregular correction as 134.10-132.05-135.30-xxxx.

Alternate EW Counts are marked in Red.
There is possibility that 5 waves might have completed at 138.40 from the lows of 106.75.
In this scenario, look for the retrace values for the rise from 106.75 to 138.40. 122.60 and 118.80 are 50% and 61.80% whereas 113 is 80% retrace values.
The current waves are then corrective in nature with 3 waves as ABC where A ended at 128.55 in 3 sub waves and currently wave B is unfolding.
In this scenario, follow retrace for the fall from 138.40 to 128.55 and may enter in short at 61.80% keeping 80% retrace value as SL.
50%: 133.50; 61.8%: 134.65; 80%: 136.40

Tata Steel Chart - 23 April 14

Preferred EW counts are marked in Green.
Current waves might be of irregular correction having completed A at 404.75 and B at 425.40. To know the probable end of wave C or wave 2, follow retrace for the rise from 332 to 424.80.
50%: 378.40; 61.8%: 367.45; 80%: 350.55
Alternate EW counts are marked in Red.
This counts are of bullish and considering that wave 5 is sub-dividing.
If wave i ended at 424.80 from 398.85, then probable end of wave iii could be 1.618*wave i => 446+

Patterns:
1. In 60 Mins chart, IHNS pattern can be observed.
Breakout above 425.40, T1: 432.70; T2: 456; keeping SL at 418.00 post break out.
2. Prices are trading in rectangle in range 425-418.
Buy above 425, target 432, SL 421.50
Sell Below 418, target 411, SL 421.50

IDFC Chart - 23April14

Preferred EW counts are marked in Green.
5 waves completed at 139 from the lows of 88. Follow the retrace for the rise from 88 to 139 to know the probable end of this correction.
Fall from 139 to 116 is in 3 waves and seems wave A of ABC is completed at 116.
Now follow the retrace for the fall from 139 to 116 to know probable end of wave B.

Alternate counts are marked in Red (Bullish)
Its a possibility that correction for the rise from 88 to 139 completed at 116 and new set of 5 waves commenced from 116 as wave (iii). Probable target for wave (iii) might be around 198.

Pattern: INHS pattern can be observed in 60 mins chart.
Breakout above 121.10, T1: 123.85; T2: 126.20; SL at 118.30 post breakout

RCOM Chart 17Apr14

TISCO Chart - 17Apr14

IDFC Chart - 17Apr14

Voltas Chart Analysis

RCOM Chart

TATASTEEL Chart

IDFC Chart Analysis