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

BHEL: A BIT OF CONFUSION

BHEL MONTHLY CHART

BHEL DAILY CHART

 OR

BHEL DAILY CHART

This chart now seems to add clarity 

BHEL on Oct 09, 2014

BHEL 180 min CHART

HINDALCO: Possible Fifth wave has begun

HINDALCO DAILY CHART

HINDALCO:  If not already Long.  Go long above HRLY pivot  at 166.5.

or

Buy if price gets in the rage of 145-150  on HRly chart that is about 50% - 62% retrace of five wave move as visible on hrly chart

HINDALCO HOURLY CHART

Target for this up move is minimum 204.

Happy Trading !
SHEKHAR

RELIANCE CAPITAL : Time to Buy

RELCAPITAL

Time has come when one should be ready to buy this stock.  Possible target could be minimum 668.9  that is the high of wave 3. Sometimes wave 5 do get shortened but that is an exception.

RELIANCE CAPITAL HOURLY CHART

Keep a close eye on Hourly chart it will give better guidance for Entry.

Happy Trading!
SHEKHAR


Pl correct: 61.8% of wave 3= 443 approx