RCOM; UPDATE

RCOM DAILY CHART

If some body is interested in RCOM here is the latest update. 
Refer my earlier post here:  RCOM: An Elliot Wave Analysis

SHEKHAR

CROMPTON GREAVES: TIME TO BUY FOR SHORT TERM

CROPMTON GREAVES DAILY CHART is enclosed with Elliot wave marking.  It is easy to deduce the following.

1. W2 is simple and corrected more than 50%
2. W3 is bit larger than 162% of W1
3. W4 is a complex correction with W 4(c) ending
at 38.2% of W3(subwave a equals subwave c)
4. 1st TGT for W5 will be 232. SL 175.75

Also note that on weekly charts price has made a hammer today. One can long above it with SL below the hammer i.e. 175.75

Happy Trading !

SHEKHAR

Crompton Greaves Daily Chart

BANK NIFTY

BANK NIFTY  HOURLY CHART

This is an hourly chart of BNF a clear 5 wave fall has completed. Which implies that the correction in Bank Nifty will be a Zig-Zag move i.e. 5-3-5

Now expect a 3 wave recovery which generaly recover 62% of the down move and sometime can extend upto next higher level therefore look for reversal at 62% or go short at 62% with SL a bit above 80% hourly closing basis.


Hopefully one can catch the C wave down from there.

Happy Trading !
SHEKHAR