Category Archives: Indian Stocks Trading

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 … Continue reading

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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 … Continue reading

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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 … Continue reading

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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.

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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. Continue reading

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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 … Continue reading

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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! Continue reading

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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. Continue reading

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