Central Bank of India Bullish Pattern seen with Elliot Wave Counts

Weekly Charts

• After a long term down trend made a low of 43 this year March 2014
• The stock has started its 5 wave up move from them after completion of Wave 1 from 43 to 86 retracing 0.618 of the move to 59
• Now the the stock is in the primary degree Wave 3 as shown in weekly charts and the stock has formed a bullish inverse H & S pattern now trading at 90 odd levels
• The pattern targets for the stock is 1.618 * Wave 1 = Wave 3 = 130 & inverse H & S pattern targets are perfectly syncing at similar levels
• Thus stock can be accumulated around CMP and on dips 80 with stop loss of 74 for targets 

Wishing All Happy New Year 2015 in Advance !!!

Raju V Angadi

Equity Research Analyst

Learn simplified objective approach applying basic concepts of technical with some common sense to optimize your INVESTMENT and infromed trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

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Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while INVESTING or trading in markets

NIFTY bleeding in Red - looks oversold ?

NIFTY from last week has been seen profit booking due to global turmoil from last 8 - 10 sessions.

The stocks are seeing the oversold levels and index too at current levels.

Daily Chart

The move from 7724 - 8626 has been retraced 0.618, Which is around 8068 and next probably worst case scenario 0.764 retracement comes around 7942.

The crucial zone to watch out for NIFTY will be around 8060 on closing basis below 8060 next support would be 7940 - 7950.

Thus one can take a contra bet on Index around support levels with 30 - 40 points stop loss for targets of 8170/8278/8340+

Warning: This is just an educational view. Consult your personal financial adviser before committing any capital. Use strict stop losses.

Raju V Angadi

Equity Research Analyst

Learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets

Adani Enterprises - Near term outlook (Update)

 Daily Chart 

 

Our Buy on Adani Enterprises was indicated around 440 on (4/12/14) reaches 570 final target (23/1/15) . 

Raju V Angadi

Equity Research Analyst

Learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets

·         Adani Enterprises is in the formation of 4^th wave forming a symmetrical triangle near the end of the lower channel

·         The stock is also near its 200 – EMA 434 which can be crucial support zone

·         The counter can be accumulated on dips around 440 – 450 with stop loss of 425 for pattern targets of 490/550 - 570

Daily Chart

Raju V Angadi

Equity Research Analyst

Learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets

Similar Bullish patterns identified in Bank of India & Canara Bank

The myth of similar patterns. Both BOI & Canara Bank have formed inverse H & S pattern.

Technical indicators ADX > 25 and trending upwards indicating the strength in the on going trend.

1.  Accumulate Canara Bank around 410 - 420 with stop loss of 390 for targets of 454 - 500

2. Accumulate BOI around 290 - 295 with stop loss of 284 for targets of 320 - 340

BOI DAILY CHART

CANARA BANK DAILY CHART

Raju V Angadi

Equity Research Analyst

Learn simplified objective approach applying basic concepts of technical with some common sense to optimize your investment and trading decisions contact on:

 rvangadi@googlemail.com  (OR) +91 78291 55900

     

To swing your fortune higher join us and be ahead to track market turns ....

Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets