Sensex
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NIFTY in the fourth Elliott waveNIFTY appears to be moving in the fourth Elliott wave which is likely to complete around 11250. It could then move up in the fifth wave before a substantial correction to below 10000 levels, if the wave count in the above chart is correct.
This pattern will be invalidated if the the current correction drops below 10930.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
Cheers
ND
Nifty analysis for Month of September 2018
Have marked many levels on the chart directly, keep these levels under observation, whenever price will touch these levels be alert.
Price is in complete up trend, for my trading i am keeping 2 price levels on scanner.
1. 11910
2. 11550
I personally expect market to go up till 11910 before it closes below 11550, if we dont go up till 11910 and go south then 11190 will be the target.
But currently there is no reason to expect fall in price, current price action is not suggesting any such ting. I will be watching the price actin all the time any bearish signal can push us to the second possibility of 11190. Traders keep all these levels marked on your chart and be ready for any trend reversal around 7th-10th of September . Till that time i expect we to be in green zone. All analysis is based up on history. I am not doing future telling. When we expect few things in future then be sure about one thing that its not necessary that every thing will work as you expect it to work.
I am not suggesting any investment or trade.
Torrent Pharma at ResistanceTorrent Pharma is at a long term strong resistance. A short can be initiated with a stop & reverse above 1800. The risk to reward is extremely attractive. A break out hitting our stop loss would make for a strong rally, and a good long trade, recovering the SL.
A potential long on Aurobindo Pharma!A long trade can be initiated around 675 levels, if Aurobindo Pharma sustains above it's resistance zone above 650, with targets close to 800 and a stop loss around 615. The Risk to reward is high, with the trade having high probabilities of success, if 675 is tested and our entry price is hit.
Bullish breakout in Godrej Consumer Godrej CP seems have a bullish breakout and a long trade can be initiated here.
NIFTY near 3rd channel top and BB resis. Short 11570 areaNIFTY near 3rd channel top and BB resis. Short 11570 area . This is same script being repeated 3rd time.
MRF range break out ?MRF Tyres seem to have formed a double top. A short below the range, or a long above can be initiated in the following sessions.
HONAUT - Buy level approaching#HONAUT
CMP 21945
Buy Level 22200 (Not below this).
Stop 20000
Target Open (Trail 10 WEEK MA)
#VCP Pattern observed
35W 34/11 2T
Low float stock
22 lacs shares float.
BBTC - WATCHLIST CANDIDATE FOR LONG#BBTC
CMP 1555
BUY TRIGGER - Only above 1670.
Watch-List stock
Volatility Contraction Pattern observed .
So far 28W 41/17 2T
Once buy triggered, Keep 20 week ema as trailing stop.
BANK NIFTY - CUP AND HANDLE BULLISH PATTERNBank Nifty - C & H pattern formation observed.
CMP 27842
Possible target 27840 + (27480-24430)/2 = 29365,
Stop 27000.
Possible trading strategies :
1) Protective Put (Futures + Put option)
2) Spread strategies (Long ATM call + short OTM call)
GLAXO - Good to go longGLAXO
CMP 3180
Stop 2700
Target 3800 plus
Weekly chart:
Moved out of a brief consolidation zone with good volumes.
Possibility of momentum taking the stock towards 3800 plus high.
Whirlpool - At Inflexion Buy pointWhirlpool 1677.
Stop 1550
Target Open.
Volatility Contraction pattern witnessed (31W 25/9 2T).
Last 4 quarters EPS and sales has been in a general uptrend.
Date EPS %Chg Sales(Cr) %Chg
Mar-18 7.20 +23% 1,257.7 +24%
Dec-17 4.19 -4% 958.0 +18%
Sep-17 5.79 +25% 1,159.7 +37%
Jun-17 10.46 +9% 1,464.0 +15%
Promoter holding 75%
Free float 25%
ENDURANCE TECHNOLOGIES - WATCH OUT FOR A BREAKOUT
Passes basic trend test
Volatility Contraction Pattern - 28W 23/11 4T - in formation
Fundamentals :
YoY quarterly performance in uptrend
Qn-4 Qn-3 Qn-2 Qn-1
Sales 7.6% 11.9% 20.1% 29.1%
OP 14.5% 13.6% 12.9% 35.5%
NP 16.1% 11.6% 5.2% 39.3%
OPM 13.78% 14.14% 12.63% 14.44%
NPM 6.23% 6.15% 4.93% 6.53%
Free Float : 18%
Long suggested above 1335 if breakout is accompanied
by above average volumes.
Once buy triggered, stop at 1200.
Target 1500 plus.
Graphite - At a perfect spot25 Weeks of consolidation;
1st leg 36%
2nd leg 26%
3rd leg 21%
Broken out of consolidation zone with good volumes.
Look to buy at the breach of 1030 with a stop of 930.
Target 1200 plus.
MASTEK - WATCHLIST FOR A BUY ABOVE 535MASTEK
CMP 512
VOLATILITY CONTRACTION PATTERN observed.
A TO B : -25%
C TO D : -14%
E TO F : -8%
Look for a breach above 535-540 with huge volumes, which is an ideal buy pivot level.
Once buy triggered, stop should be at 490, and target at 650 plus.
LTTS - WATCHLIST STOCKLTTS
CMP 1293
Underlying trend is evidently up with stock above 50/150/200 ma with all MAs upward sloping.
Stock currently in consolidation phase with buying happening at upmoves within consolidation zone.
Buying suggested ONLY IF STOCK MOVES ABOVE 1390 LEVELS WITH GOOD VOLUMES.
Once buy gets triggered, Stop should be at 1280 and Target for the stock is 1600 plus, which can be trailed.
Fundamentally, the last 4 quarters have been showing a very good trend in key performance parameters.
The low float of the stock (18.5%) is a big advantage as a breach above the Buy Pivot Level could amplify the upward momentum.
YoY - J17q / S17q / D17q / M18q
Sales 2.45% , 9.47% ,19.58%, 29.85%
OP -16%, -12%, 2% , 22%
NP -9.26%, 9.92%,16.48%, 64.87%
NPM - inreased from 12% to 15% from M17q to M18q
Free Float - 18.5%
Promoter - 82.5%
