Wednesday, December 10, 2014

Basics of Elliott's Wave Theory explained in details by Deepak Kumar

Elliott observed that every financial market, stocks or financial instrument moves in zigzag formation and called it wave’s cycles. And that zigzag formation consists of a set of 5 waves in the direction of Primary/Main/Bigger trend followed by a set of 3 waves opposite to direction of main trend.

I am just copying very first chapter “Wave’s Cycle and Principles of Elliott’s Wave Theory” of my book in this Article/Lesson. And I hope this article will be enough to make you understand everything about Elliott’s Wave Cycles

Both Elliott Wave Cycles and Personalities of waves are explained in details with examples on real time chart in Separate Articles:

Elliott Wave Analysis of Nifty for Dec 2014

we can expect this whole impulsive move from 7724-8626 as inner wave (a) of (5) followed by downwards wave (b) is in progress and followed by wave (c) upwards is pending.

Now within wave (5) of ED started from 7724: -

·         Wave (a) completed from 7724-8626
·         Wave (b) downwards started from 8626 which is in progress and already declined 300 points from high. Exactly we cannot say how much wave (b) will correct but we can say its maximum limit downwards. Generally, any part of an Ending Diagonal Triangle shouldn’t break below its lower line (line joining wave 2 and 4). So we can expect maximum possible lower levels for wave (b) till lower line of ED (lower red line). Normally we can expect wave (b) as 61% of (a) but not compulsory, it may be less or more.

Saturday, November 29, 2014

Spicejet by Mamta

Ace investor Rakesh Jhunjhunwala bought 75 lakh shares of spicejet,which is why i tried to plot my counts on this.And as plotted the stock has completed a 5 wave impulse finally spicejet is ready to take off board it soon.!! 

Manugraph by Mamta

I have attached a chart of MANUGRAPH. I feel its a very good buy at cmp.the target i have suggested is quite a conservative one.The book value of the stock is around 75.So with thing improving in charts you can look for a move closer to 1.5x book value viz around 100-105,if u increase ur time horizon. 

Thursday, November 27, 2014

Book profits by Abhishek Mittal

Short term traders should book profit in Tril now as said earlier.Target of 202 achieved high made 204.Medium term traders should still continue to hold it.#PowerOfWaves

Friday, November 21, 2014

Right time to buy is now by Mamta

I had post a chart for granules few days back.The right time it seems to buy is now once it crosses 800.cmp 790 once it crosses 800 momentum should  build up and take it higher 50-60 pts.

Wednesday, November 19, 2014

Update on Tril by Abhishek Mittal

Tril posted as a buy at 177 quoted a high of 196 today.11% in two days.Long positions can still be held on to for short term target 202 medium term :205.                                                 

Tuesday, November 18, 2014

ONGC by Abhishek Mittal


TRIL by Abhishek Mittal

Transformers and rectifiers ltd.

Using elliot waves to pick bottoms (SUZLON) by Abhishek Mittal

This setup fetched a buy call on suzlon at 12.45.It today quoted a high of 15.65 a whooping 25% gain in such a short span.This is how elliot waves can be used to pick bottoms.