Quasim

Quasim

Just like Metals and commodity stocks have turned bullish on the back of falling dollar and additional infrastructure spending by the givernment, power and energy stocks too follow the same persuit. Coming to the levels, Tata power is currently holding 20 week average and the stock has turned bullish again from the same levels before. The previous week it closed...

Quasim

Nifty- Marked elliot waves in the form of 5+4+4 in white as it is difficult to ascertain which wave is actually extending. It seems though that we have just completed 4 of Larger 3 marked in Green. Keeping the bearish argument that Larger degree 5 is done at 9th wave, we cam still go lower. A Move above 14877 or below 14260 would confirm the near-term direction of...

Quasim

Nifty bounced on Thursday after filling the GAP and retracing little more than 61.8% of the last rally. The low made was very close to the lower trendline of the channel which has held the entire rally till now from May low. 9 minor waves (5+4) can be counted on daily as well as weekly charts, which can be marked as a completed impulse wave from march bottom. This...

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Quasim

Short term levels and analysis using elliot waves and Fibonaaci ratios

Quasim

Wave 2 correction for the post-budget advance looks complete and wave 3 should start from here. The correction seems to be a double three and breaking out from this it can go to 38000 or above if it were to go to the top end of the rising channel. The depth wasn't much in this correction simply showing how strong the underlying trend is. A gap up and positive...

Quasim

Triple three noticed in bank Nifty. Breaking up from here we can go to 38000 and above

Quasim Updated 

Nifty Elliot wave update. As per my primary wave count, Nifty is in wave 4 of (3). 4 is almost complete and is taking support at 40 day moving average, however when I go into smaller timeframe wave 4 may have one last dip left and it can go till 13850-13750, where it meets the lower trendline (in green) of expanding triangle and low 21st Dec crash and the rising...