Wednesday, April 30, 2014

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


Tuesday, April 29, 2014

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




Monday, April 28, 2014

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)

Wednesday, April 23, 2014

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


Wednesday, April 16, 2014

Thursday, February 27, 2014

TISCO Chart Analysis - 26 Feb 14


The below given chart is on Monthly Time frame and I have tried to put down EW counts on it.


The below given chart is on Weekly Time frame and I have tried to put down EW counts on it. Also, we may observe that INHS pattern is in making. Although in recent times I have noticed that this pattern didn't work as it was used to be earlier.


The below given chart is on Daily Time frame and I have tried to put down EW counts on it. 
Also, we may observe that Triangle is in making in this time frame.


The below given chart is on Daily Time frame. This chart is just to show that candlestick patterns do work and if one stays with it => definitely makes profit.


The below given chart is on 15 Mins Time frame and I have tried to put down EW counts on it.


TISCO is making Gartley Pattern or already made (time will confirm on this). Levels mentioned in the chart may be used for making an entry.