tushargupta1991

tushargupta1991 Updated 

Bank Nifty could make a down move to complete the corrective pattern and give RSI divergence, as shown, before the up move. A similar move can be expected in Nifty (as shown in the link).

tushargupta1991 Updated 

Nifty seems to be correcting upward and might make one more low giving RSI divergence. A similar move can be expected in BankNifty as shown in the link below.

tushargupta1991 Updated 

Nifty reversed from the 50% retracement as posted earlier (link attached below). Upcoming down targets are shown.

tushargupta1991 Updated 

Nifty seems to have reversed from an important support level. Targets on the upside are 50% and 61% retracements to start with (further target could be ATH).

tushargupta1991 Updated 

Nifty is moving down to a weekly trendline. If it bounces and goes above the upper trendline, then buy for new highs.

tushargupta1991

The up move in SPX should start anytime, most probably from the lower trendline.

tushargupta1991

In continuation with the previous posts on Nifty, there seems to be a good long opportunity to new highs now with a great reward to risk ratio. I'm holding all previous longs too with an SL of 8670. If it breaks the lower trendline (and SL gets hit) then will be looking for going long later or shorting as per the trend then.

tushargupta1991 Updated 

This is in continuation of the previous update. Nifty seems to have completed a flat pattern. So long positions can be carried forward for newer highs. Newer longs can also be added. The down move shouldn't go below 8839.

tushargupta1991

Lupin seems to be in a leading diagonal after a big flat correction with C=1.618*A. Hence it could continue to newer highs. Any move below the wave C low would negate the count.

tushargupta1991

This has started a strong up move after completing a flat pattern. It's likely to break out at higher targets up.

tushargupta1991

This has given a sharp reversal from the trendline support after a consolidation. Hence it could go up to make newer highs (with a small SL).

tushargupta1991

It seems that Ashok Leyland has completed a Flat pattern with an extended c wave (c=1.618*a). It can be longed with a small SL of yesterday low for new highs. Further confirmation would be above the UTL.

tushargupta1991

USDINR could possibly be starting wave 3 of 3 of 3 of C down. This could correspond to the sharpest rise in Nifty i.e. a long awaited wave 3 rise.

tushargupta1991

Bharti Airtel could have completed a Flat pattern with wave c extension. I was expecting the up move to start at 333 in case of a regular flat (link attached). A move below the end of wave c would negate the setup and hence could be used as SL.

tushargupta1991

BEL has possibly completed it's correction and the current up move can be taken as a 1-2-1-2 count. Any move above the green TL would be bullish. The black TL must hold for a sustained up move.

tushargupta1991

Apollo Tyres (along with other tyre stocks) seems bullish in the long term as it's broken out of it's corrective downtrend channel. Earlier I'd posted updates only for MRF (links attached), but both Apollo Tyres and CEAT can be bought too with targets above their all time highs (and SL as their June/Jan 2016 low).

tushargupta1991

Tyre stocks like CEAT, Apollo Tyres and MRF seem to be following a similar structure. MRF has already broken out of it's corrective structure. It's likely that CEAT and Apollo Tyres would do the same.

tushargupta1991

Nifty IT is the only index that has not started any strong up move till now. A move above the 0-B trendline could kick off it's uptrend following which some IT stocks (like HCL) can be bought too. A strong up move should start soon as we're already near 76% retracement. Otherwise it could make a new low negating this setup.