All Entries in the "Indian Stocks Trading" Category
Elliott Wave Analysis of DLF, India
I am bearish for DLF (a much followed Indian Stock) and expect it to reach at least 215. However, the better level to sell will be near 290.00 Take a look at the chart where I have given detailed elliott wave analysis of DLF. Clearly, there is a preferred level to sell and that is [...]
Elliott Wave Outlook for Tata Steel
My last Elliott wave update on Tata Steel was back on 18th June. Since then, this stock has behaved perfectly from a technical point of view. Once the extended fifth wave was completed, there was no surprise in the move that followed (and continues to develop). As I have often stated in hese pages, fifth [...]
Opto Circuits India – Elliott Wave Analysis
Opto Circuits India Ltd appears in many portfolios that have Bharat Shah as the advisor. (Incidentally, Bharat is the famed fund manager from Ask Investment Managers). As Bharat is a value investor, I figured that he and his team must have done sufficient research about the desirability to have this stock in their portfolio for the long haul. [...]
Tata Steel breaks support
A technical trader has to watch a few things carefully, especially if we are in the fourth wave position. First, see if the 2nd wave was a simple correction. If you can confirm to yourself that the second wave was a simple one, then the fourth wave will very likely be a complex correction. I [...]
Tata Steel in fourth wave triangle
Tata Steel has come a long way from its lows, and after a steep third wave rally that ran 300% of its first wave, the stock has corrected 23.6% as a fourth wave triangle. Look out for any sharp break above the upper boundary of the triangle because that will signal the start of a [...]
Tata Steel in Wave 3?
For a while now we have been working under the paradigm that Indian stock markets have bottomed out, and we are in a new bull market. In the case of many stocks this translates into a third wave position at the present time because we have already seen a deep wave 2 correction earlier. However, [...]
Fibonacci Analysis of Reliance Industries Ltd
Most of you know that Fibonacci ratio analysis and Elliott Wave analysis go hand in hand. (Beware of the tendency to think that ratio analysis is more important than understanding the personality of the waves that make up a move). In this post, I am going to show you why I think Reliance Industries Ltd faces a significant resistance at 1822. I use Fibonacci ratio analysis to illustrate my views.
Technical analysis of DLF, India : a follow up
A few days back I mentioned that Rs.324 was an important level for this stock, and a break past that will expose Rs 408. We ran into some good selling around the 324 level, and we are correcting down now. Here is an update, with two charts.
A quick technical update on DLF, India
A reader has requested for technical analysis on the Indian Real Estate sector, and I chose DLF because it was first on his list. The current move looks quite strong, and all we need is a break past early resistance at 323 for it to continue to 408 area. I wouldn’t be short of this [...]
Bombay’s Sensex and Kuwait’s Global: An Elliot Wave Approach
Even if you are from the West, and have no interest in a company that is called Global Investment House, Kuwait, you would learn something by looking at the way the waves have been labelled. Likewise with the Sensex, which is the Bombay Stock Exchange Sensitive Index. Enjoy!
Tata Tea finds short term resistance
On 11 Dec 2008, we suggested that it might be worthwhile to get out of Tata Tea near the 574 level. (That trading idea was inspired by using elliot wave analysis).The actual high was 577, and the stock has since declined to 530, and probably has more to go. Take a look.
Dr.Reddy’s Laboratory trade idea revisited
On 1 Dec, I suggested that Dr. Reddy’s was showing a bottoming formation. A low-risk trade is coming up on the radar, and it might be of interest to traders who follow Indian stock markets.
Tata Tea is approaching short-term top
When Tata Tea reached the 430 level a few days back, it was clearly time to buy. Not only was the overall market in an oversold condition, this particular stock had reached a 123.6% Fibonacci projection of its previous large decline. From the 430 area, we have already seen over 30% gain, and it is natural to start wondering where we will run into some profit taking.
Dr.Reddy’s Laboratory in a bottoming formation
Every few days we will look at an emerging market stock. Dr. Reddy’s Laboratory has suddenly come to the limelight today. You will observe from the chart that this stock has been trading between two parallel lines for several days. Only once did it violate the lower line, but it closed higher
Get ready to buy Reliance Industries
On 3rd November I warned you to get out of your Reliance Industries holdings near 1480. (see the post here.) I think the stock will bottom out between 855 and 905