singh17vivek

singh17vivek

Left chart- Wipro Right chart- Nifty IT Vs Nifty Ratio Study- that the ratio is below all the three averages, is an indication that IT stocks will underperform Nifty. I had already stated that the correction in them is not over yet. So three stocks which are a sell right now are Wipro, Infy and TechM, TCS will fall too but these are better bets as they have...

singh17vivek

Britannia CMP 4831 Correction in my previous post: Elliott- the two corrective waves 2nd and 4th are related to each other by time (1 : 2.618). This means roughly that they cant be more than 3 times of the other. The A wave of the correction is done. RSI - the change in the oscillation of RSI from bear to bull is telling me this zone is very good buy....

singh17vivek

Britannia CMP 4805 Elliott- the corrective pattern here is a zig zag. Good part is this is just the first leg A of the pattern. In my view it should end around the 4340 zone. The B wave which will be a rally should go all the way to 5800. I will say book ur profits here and say thank u to mkt. Coz the devastating C will start post that. In my view the entire...

singh17vivek

Biocon CMP 335 Fib resistance, trendline resistance RSI in the bear zone and also negative divergence is telling me the trend has turned down. In my view its a good exit.

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TCS CMP -3784 I had stated before that IT and Pharma is also weak and they will also correct. They have started late and will correct further. Elliott- the iiird wave of C of the zig zag corrective pattern is underway. Below 3760 we will see 3680 and 3590. Nifty IT vs Nifty 50 - on the right is the ratio chart. See how the IT performed better than Nifty...

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OIL CMP 396 Elliott- this is a double zig zag correction. The A wave and C wave have a correlation of 1 and 1.618. The second zig zag has halted at 1 of A. Even the second zig zag is related to the first by Fibs. It too has halted at 1 of A. So definitely a high prob reversal zone. Hope to see impulse wave post that and not another corrective pattern which will...

singh17vivek

Nifty Next 50 CMP 59550 Elliott- This is the bullish ABC correction called zig zag. This is the only correction that starts with a 5 wave down. The fifth wave of C should end round about the current zone. This week candle should be a Doji. So very likely it will start the week down but then should recover by the end of the week to form a Doji. Last one week of...

singh17vivek

Silver CMP $32.09 Fibs- The precious metal is at resistance at 32.97. Its next resistance is at $36.50. In my view it is headed for the $48.

singh17vivek

Bank nifty VS Nifty Ratio Study: Once the uptrend resumes BNF will outperform Nifty. I had stated this before. That it is trading above the three MA's is a proof that BNF will indeed do better. So start cornering banking stocks.

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Concor cmp -691 Elliott- A correction that starts with 5 waves is just the first wave of correction A. And is called a zig- zag. The B wave is a rally that nearly goes to the top. This is an opportunity to exit. To me this is a good place to average if ur stuck. But do not push ur luck further than 1044 .

singh17vivek

Coal India CMP 370.70 Gaps- certain gaps mark the middle of the move. One such gap is seen at 435 on this chart. the bottom was made once the stock travelled the other half down. To me the correction is over and this dip is an opportunity.

singh17vivek

VEDL CMP 455.80 Fibs- the correction halted at 38.2%, that it has come from a higher swing is tremendous strength. Once the highs are broken one should see 594 on this.

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Nifty CMP 23559 Fibs- the 23390 zone is an imp zone on the chart. The bulls have used it twice before. Currently at the same zone there is a gap again highlighting the importance of the zone. The two points are the gaps used on the chart. Hence to me the Index is headed for 24250. Any negativity if at all will be below 23390.

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NTPC CMP 314.25 Fib - the stock is at 61.8% Fib support from a higher zone is strength. The zone is also supported by trendline. RSI is in oversold zone. The zone also is supported by MA. Hence to me this is a good buy for next six months to a year .

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IPCA CMP 1470 Elliott- thats an expanded flat corrective pattern on the right. The C wave is 1.618 of A. Hence to me the correction is over. Fibs- the correction has halted at 50% from a higher swing. This is strength. RSI- the oscillator has halted above the bull zone. Hence the trend is intact. Conclusion - to me this is still a very good buy as the trend is...

singh17vivek

HAL CMP 3817 Fib- the stock has halted at 61.8% from a higher swing is strength. The stock is at fib confluence support at 3500. Hence we know it is at a strong support. Channel - it is also at channel support hence one more support. MA- The zone is also its MA support further cementing the zone. Conclusion - The stock is still 30% down from the highs and in...

singh17vivek

MCX CMP 5875 Elliott- Thats an expanded flat corrective pattern. The B leg gives a false breakout and then breaks down and closes way below the end of A wave. Here C is 1.618 of A. Fibs- That it has halted at 50% from a higher swing is an indication that the trend is strong and intact. RSI - the oscillator is above its bull zone. Hence the trend is...

singh17vivek

Trent CMP 5750 Elliott- This is the zig zag corrective pattern. The A wave and C wave are generally equal or C is 1.618 of A. Here they are equal. Fib- that zone at 5428 is a strong support. In my view this zone will hold. RSI- At this support the oscilator is taking support above the bull zone. Hence the trend is strong and intact. Conclusion - at CMP the...