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Banknifty is now showing all signs of a longterm completed 5 waves from Mar 20 to Sep 21. The ending diagonal as wave 5 of 5 adds credibility to the structure. What this means is that if the 38224 high is not broken we are heading to 30000 area in an A-B-C correction. One more slight maybe possible, if it does , we'll relook for a new short entry. The...

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The chart shows an interpretation of the year and half long sideways move in SILVER. This has all the characteristics of a triangle that is headed for an upside break. Wave E may be slightly short, so may have some more lower go, but that is not necessary. In any case a break of the upper trendline B-D should indicate a powerful upmove will begin. This has...

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MCX Copper has just traced out a pattern that can be interpreted as a A-B-C Zigzag from recent highs. All 5 subwaves of the final C wave seem to be in place. This now means the uptrend should be back in force to new highs. Hold longs with Stop at recent lows.

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Look for a strong upmove the next couple of days as Copper heads out of its sideways triangle pattern. At present the triangle seems complete and the next wave upwards is in its early stages.

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A detailed Elliottwave correction is labelled. A large wave 3 impulse was followed by an expanded flat Wave 4. We may have just completed a wave v or 5 of c of C of 4- which has taken the shape of an Ending diagonal. This has also ended at the previous Wave 4 which is typical such corrections. This seems to have ended wave 4 - a large ABC expanded flat. If the...

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As the chart shows, Banknifty is breaking upward in a rally as it is moving out of its downward Wedge - The Wedge is a Diagonal Triangle in Elliotwave parlance. When a correction start with a diagonal triangle, it cannot be a full correction - it is only par of it . We are now in a B wave rally of a larger A-B-C correction. One can expect a surge into the...

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Horizontal line drawn basis hourly closing prices. Crude should be headed higher

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Apollo Hospitals seems to have completed a W-X- Y correction, there are other ways to label the correction but that leads to the same conclusion - indicating a resumption of the uptrend. Look to enter on strength above 3040 levels expecting new highs

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The Infosys chart shows a very clearly visible Cup and Handle pattern - indicating continuing strength. Look for new highs towards the indicated target region

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Wipro seems to have completed a W-X-Y correction at its recent lows. Note that X wave is a triangle which is clearly evident. The subsequent upmove can be charted out as an 1-2 with waves 3-4-5 still awaited A lot of the India IT stocks are headed up - see recent posts on Mindtree/TCS

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Mindtree has been moving sideways forming an inverted Head and shoulders pattern. All looks set for a quick 100 point rally once the top is exceeded

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TCS has setup a corrective sideways move and now looks set to join the recent TECH rally. A strong break of the downward sloping channel will be the entry signal for a 5 wave rally to new highs

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BPCL has been coiling in a range since last Sep. A breakout is now visible, recent lows can be a stop level

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Another day (week) , same story

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What does SILVER's recent history tell us ? No surprises I guess !!

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TATAMOTORS has been moving sideways charting out a triangle. Looks all set to breakout to the 360 region.

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Beautiful ascending triangle, multiple tests of upper trendline. Look for a move upto 500 levels if it sustains above the horizontal line

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GNFC has completed a Head and Shoulders pattern and is now taking support at the neckline following an upward breakout. Continued upmove can be expected once consolidation is over. Target or 350 likely i.e., a 50-60% move up