CNX IT near term outlook - near crucial levels

CNX IT

Daily Chart

• Gap filled with key trendline resistance on daily charts
• Resistance zone near 11500 - 11600

Weekly Chart 

• Bearish H & S in forming on weekly charts

TCS

Weekly Chart

• Bearish H & S on weekly charts in forming

HCL TECH

Weekly Chart

• Bearish triangle informing on weekly charts with cross over point as strong resistance

INFOSYS

Weekly Chart

• Infosys near resistance zone

Raju V Angadi

Equity Research Analyst

To 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

     

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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

JSW Steel - Bearish Pattern Seen (Update)

 

Weekly Chart (Before) 

Weekly Chart (Now)

JSW Steel falls from 1100 to 1000 odd levels in a week almost 10% returns nearing lower end of the channel. Still more downside left in the stock, But where to enter position next after crack of 10% is the thing to understand? How to manage the risk is vital. We need to get into finer detaisl.

Simple trendline along with Channeling technique would have provided the signal to enter short. But additional confirmation and timing is required to manage risk. It is as much as important to enter a position and to close in the process manage it though the process wherein Psychology, adaptability, risk management & Money Management other concepts are crucial aspects in either trading or investing.

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying basic concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense to optimize your investment and trading decisions contact on:

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

                             

Weekly Chart

• Bearish H & S Pattern formed in JSW Steel. What next ?
• The stock is below 13 - week EMA looking weak
• So applying 3 - 4 tools with confirmation of trend can assist in analyzing stocks or any liquid traded entities

Raju V Angadi

Equity Research Analyst

To 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

Can Crude Oil regain some charm in 2015 or not? (Update)

Crude nearing intermediate support 43 - 44 area as posted in our previous post, an intermediate bounce expected from these levels up to 52/60 with a stop loss below 41.81.

In INR terms 2700 - 2750 support area.

Raju V Angadi

Equity Research Analyst

To Learn simplified objective approach applying Advanced concepts of Elliot Wave Theory in conjunction with Dow Theory & Psychological traits to trade with some common sense & optimize your investment / trading decisions contact on:

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

Chart 1: Brent Crude Monthly Chart from 1987

Monthly Chart of Brent Crude Chart 1: showing the long term trend of 5 - wave rise from $20 (USD) odd levels to $140, then correcting near $42 odd levels completing corrective wave A and then moving up in a-b-c of corrective Wave B with 3 wave advance confirming corrective move up. Further forming a triangular pattern with Wave B and break down indicating we are in corrective wave of cycle degree Wave C.

Chart 2: NYMEX Crude Weekly Chart

Weekly charts of NYMEX Crude in Chart 2: line chart showing triangle on Wave B after zig-zag move up. Then corrective leg below we are in wave 3 of C.

Chart 3:  NYMEX Crude Weekly Chart

Weekly Bar Chart Nymex Crude in Chart 3: Displays internal wave structure as currently we may be nearing end of Wave 3 of C (Cycle degree) 51.90 or can extend to 44.  Resistance zone can be around $66 -68/$75. Crucial support zone can be $38 - 40 and bottoming out can be expected near those levels.

What could be the near term and medium term outlook for Crude Oil ?

Raju V Angadi

Equity Research Analyst

To 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

Grasim Industries - Pattern with EW Counts

Weekly Chart

Grasim Industries is in the process of completing its Wave 4 of Primary degree and symmetrical triangle formation as shown in the weekly chart above.

                                                                   Hourly Chart

In intraday chart also stock has broken above down trendline and has formed an ascending triangle.


The stock can be accumulated around 3450 - 3500 with stop loss of 3370. Chart structure pattern targets and Wave 5 to be around 3750+.

Raju V Angadi

Equity Research Analyst

To 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

NIFTY near term Analysis applying Fibonacci and Elliot Wave Counts

NIFTY after making a bottom just below 8000 making lows of 7960, which was whisker away from 0.764 retracement move from 7724 - 8626 as shown in our previous post now near 8400 on daily charts (http://swing-research.blogspot.in/2014/12/nifty-bleeding-in-red-looks-oversold.html).

Further analysis on shorter time frame clarifying the wave counts on 120 minutes charts. The Index has made a 5 - wave decline from 8668 - 8008 and now looks like a A-B-C up move.

2 -Hour Chart

Considering the principle of equality and a fibonnaci cluster near 8525 key resistance for NIFTY can be 8462 and 8525 on futures. If the counts pan out again we can see a 5 - wave decline up to 7820 below steep cuts can be up to 7600. Looks like we are in a Wave - 4 of primary degree with zig-zag correction. It is advisable to be cautious and trade with stoploss as NIFTY nearing resistance zone. Stock specific action can continue for few more days. Let us reassess the counts once resistance zone is crossed.

Bank NIFTY resistance can be around 19200 - 19800 - 20000. Still some steam left in Bankex particularly AXIS Bank, InusInd Bank, IDBI and Central Bank of India are charts in focus.

Raju V Angadi

Equity Research Analyst

To 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