HINUDSTAN UNILIVER LTD (INDIA):

MONTHLY CHART

The charts are self explanatory.
Also on daily chart Wolves Wave  formation is visible (chart not posted).  One can initiate shorts once the  price breaches the upper trend line.  TGT as per WW 440 approx.  and 38% retracement of  W3 (red)  comes closer to 391.

WEEKLY CHART

It is time to keep a close watch on the scrip to initiate shorts.

Weekly charts here shows the internal wave structure of W3 in red colour which starts at 218.

Happy trading !
SHEKHAR

RELIANCE COMMUNICATIONS

After going through the Pankaj's super bullish views on RCom  spent some time on the charts.  Two charts are posted below.  Rcom is still in the bearish mode.  A 5 wave  impulsive down has completed and a correction to that move is going on.

Presently Rcom is in  B c iii  there is still room for more down side,  before the upmove  in wave C begins.  There is still an outside chance that it may not be a B down but  W 2  but I believe otherwise simply because that it has moved too close to the lows of so called W1   yet technically possible that W3 starts from there as Pankaj thinks.  Well  wave B can go below the lows of A as in  irregular corrections.

W 3  or W  C  both offers an opportunity to  mint great money,  so keep an eye.  I will take a ride once I see some sign of reversal,  although I might buy a little expensive.

Happy Trading !

SHEKHAR

COPPER ELLIOT WAVE ANALYSIS

Presently copper is in Wave C.  Wave C has already extended more than 1.618 times of W:A  next target could be  the Fibo extension A*2.618  which is around 2.460. 


Looking closely into the wave C . It has completed W C:3  and presently W C:4 is running which is likley to retrace min of 38.2 and could be a complex wave as W C:2 was simple which  has retraced almost 61.8%. 


 As W C:3 is extended   Golden section suggests  Wave C:5 likely to end at 2.599.

As of now  correction is under way one can keep a close eye on levels between   3.585 to 3.949,  where a very good short possibility exists.


Also please see a Wolve Wave Running in  Wave 4 ( 60 min TF). Suggesting a possible TGT of W C:4  where shorts can be initiated.

Happy Trading !

SHEKHAR