Nifty moved from 9600 - 10280 in 5 sessions .i.e a total of 680 points captured by the index.
The global market sentiment stayed bullish. US markets remained so bullish that even the bankrupt companies are rallying !
Enough of the news, Let's now come to the analysis at hand -
Why watch IndusIndBK for bullish move on 8th Jun?
Hey, whassup reader?
I bring you an analysis of Nifty 50 using Eliott waves and found the price to be respecting the waves theory from 1996 till today.
Here's my approach, observations, and some prediction mentioned below for you. Like and comment on what do you think about it.
You can zoom out in the chart to see the wave pattern formation across time.
Story from analysis (Eliott Waves) on Bharti Infratel -
a. Stock is in strong advancing stage so look for buying at dips
b. Wave 1, wave 2 and wave 3 are over. We are at wave 4 now which will the correction to wave 3.
c. Wave 4 should correct the price gains that happened from wave 3 between 215- 195 level.
Why 215 and 195?
195 - Because Eliott wave correction...
Marico is showing head and shoulder bottom. A very good signal to buy above the nearest resistance.
Buy above 331 and target 8%.
Stoploss at- 320
I will appreciate if you will let me know your thoughts in comments below