Stocks Tips LIC Hsg Fin, Bank of India, Commodity Tips for trading with charts!

Below is the transcript of Stock tips given by Ashish Kyal, CMT on ET Now.

LIC Housing Finance 60 mins chart:

LIC HOUSING FINANCE BUY ON DIPS TOWARDS 640 SL 625 TGT 665

This stock is intact in upward moving channel from last 2 months. Recently prices reversed from the channel support and moved higher with strong momentum. In an outperforming stock buy on dips is the ideal strategy which can provide favorable risk reward ratio. Along with this Elliott wave also suggests that rise witnessed in last few months is impulsive in nature where it becomes easy to spot the trading opportunities.

Bank of India 60 mins chart:

BANK OF INDIA BUY AT CMP 153.40 SL 147 TGT 162

PSU Bank sector has continued to outperform over last few months. Bank of India is in uptrend. 50 periods Exponential Moving average is providing important support and ideal zone to enter long positions. Along with this, 39 hours Time cycle is also helping to capture the short term bottoms.

Commodity Tips

Lead April 60 mins chart:

MCX LEAD SELL AT CMP 142.70 REST AT 142.30 SL 144.20 TGT 140-139 – This call was given to our Commodity tips subscriber on 18^th April based on the above techniques

Prices are intact within the downwards sloping blue channel and post touching the channel resistance in form of wave x it exhibited a sharp move on downside. As an important thing to notice is that wave x formed a pennant pattern and completion of the same indicated that the trend has resumed on downside.

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How to trade Commodities Neo wave pattern?

Application of Advanced Technical analysis on base metals like Zinc to understand the short to medium term trend.

Technical analysis can be applied on any asset class. There are number of forecasting theories which helps to understand the trend ahead. Advanced level of Elliott wave - Neo wave has specified certain new patterns such as - Extracting Triangle, Neutral Triangle, Diametric pattern which is not covered in Elliott wave theory.

Base Metals have been moving higher in corrective fashion since 2009. The pattern forming from 2009 on MCX Zinc weekly chart is Diametric pattern where we can see contraction followed by expansion. The part of research is taken from “The Commodity Waves Short Term Update” published on 13^th April 2017.

Plot your own charts on commodities – Zinc Futures (draw line chart) and share it across on our Trader’s Forum for collaborative learning or clarifying your doubts or sharing something extremely exciting with everyone.

MCX Zinc Weekly chart: Following chart is picked up from “The Commodity Waves short term update”

Wave analysis:

Below research is picked up from the daily commodity update – “The Commodity Waves short term update”

“As shown in weekly chart, since 2009 primary wave B is ongoing which is forming Diametric pattern – this is a classical text book mirror image which is given in Neo wave studies. The sharp trend witnessed from the start of 2016 is in form of intermediate wave g which is the last leg of the pattern. This wave g is forming double correction pattern where minor wave (b) of second correction  is ongoing. As per this wave structure one more leg on upside is pending in form of wave (c). Nevertheless over short term there is no positive confirmation and downside trend can continue before forming low in form of wave (b).

As shown in 60 mins chart, (60 mins chart is not shown purposely which is covered in research report) prices are in wave (v) of minute wave c. The down move has been sharp in nature which indicates any rallies is going to be short lived as long as …….

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Webinar: How to trade Nifty in coming week using Bollinger Bands?

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Nifty: Power of Hurst’s Time cycles along with Neo wave Diametric pattern!

Nifty: Power of Hurst’s Time cycles along with Neo wave Diametric pattern!

Time cycles are extremely important concept and when combined with other technical analysis methods it gives high probable outcome.

Below research shows how we are using Hurst’s Time cycles with Neo wave application on Nifty.

This time we are again visiting 55 days Time Cycle which has worked well in past. We found out this cycle based on Hurst cycle study which has predefined standard cycles. One can find cycles which are close to the nominal ones defined in the nature.  This cycle had been working well over the past history.

In cycle analysis one should give leeway of 10% as Time is more dynamic element compared to price. Low formed on Demonetization was just 2 days later when the cycle was bottoming out.

Plot your own charts with cycle analysis on Nifty and share it across on our Trader’s Forum for collaborative learning or clarifying your doubts or sharing something extremely exciting with everyone.

Below chart is picked up from the daily equity research report – The Financial Waves short term update that covers view on Nifty and three different stocks published daily.

Nifty daily chart:

Wave analysis:

Published today morning in equity research report

Nifty had a flat opening in yesterday’s session and prices managed to quickly move towards 9240 on upside during first half of the session. Later there was consolidation throughout the day within a narrow range of 9220 and 9240 levels. Stock specific action continued with heavy weights like ICICI Bank, ITC, Bank of Baroda helping index to close positive.

As shown on daily chart, over past 4 days Nifty corrected by hardly 100 points and recovered back quickly on upside in just one day. The broader market has been still outperforming during this period. It therefore indicates that the ongoing leg is only wave f and post its completion wave g on upside should start.

We are showing 55 days Time cycle on the daily scale. As per this cycle an important low should be formed by ……… April. The reason for giving a range is because we do not have precise level to pick up post the Demonetization. The cycles got little distorted and so we will use the range rather than picking up exact low date. This time as well prices moved in sideways action in the cycle topping zone rather than downside so far. This is in sync with the existing wave counts.

As shown on hourly chart, (shown in the actual research report) after the fall and rise scenario the best tool to use is Bollinger Bands for directional breakout confirmation. Nifty made a high near 9245 levels which was exactly at the upper end of the bands. The lower end of the band is near 9170. We can expect range bound action between this zone over next few days before the time cycles are behind us and prices confirm a low formation by …… above the high of …….. levels.

Nifty has moved precisely within the zone mentioned in today’s morning research report…

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Nifty - Neo wave Diametric pattern and path ahead!

Bottom Line: Nifty moved lower in yesterday’s session as well but is now approaching close to the important channel support.

Nifty daily chart:

Nifty 60 mins chart:

Wave analysis:

Nifty continued to trade negative yesterday after opening positive near 9220 levels. The move on downside has continued but prices are now approaching near the important channel support. Fall in Sensex was more intense with prices moving down by 130 points and top contributor to the down move was Infy followed by Reliance Industries.

As shown on daily chart, RSI has already started showing negative divergence thereby confirming the outcome which we saw using other parameters like Moving Average difference oscillator shown few days earlier. From daily trading perspective it is best to follow bar technique. For trend to reverse we require close above previous bar high which is near 9226.

Nifty fall has been in overlapping fashion so far and the intensity is yet to be seen. This confirms that the overall pattern developing in the third pattern is extending further in the form of a Diametric pattern. The high made at 9274 was exactly at the channel we have been showing that completed wave e of Diametric and now the fall is in the form of wave f. Diametric patterns are 7 legged corrections with each leg moving in overlapping fashion. This is the reason why the momentum is not strong during the fall so far. There is a possibility that the channel can be whipsawed.

The short term support is near 9140 followed by 9080. Yesterday’s fall managed to protect this level so far. Let us see if there is attempt to protect the channel zone. Always remember that for strong uptrend to reverse series of negative price confirmations are important. Also there is zone of support between 9080 – 9140 levels. So, strong momentum below these levels is required for medium term reversal. Until that happens we can expect prices to drift lower but open up positive trend again towards higher levels near 9458 which is derived using Gann analysis on medium term charts and shown in the recently published Monthly update as it covers medium to long term perspective on global indices.

In short, trend for Nifty is negative unless we see a close above 9225 levels. Corrections in stocks are also overlapping so far which suggests that one leg on upside is possible after completion of wave f with 9080 – 9140 zone as very important support!

The above research clearly shows that if one follows the objective technical tools then probability of success in trading can increase. To capture such moves subscribe to “The Financial Waves Short Term Update” for 12 months and get access to “The Financial Waves monthly update” absolutely FREE in which we have shown path for Nifty from medium term perspective and it has moved exactly the way as expected. Simply make the payment from here and we will send your copy of both the reports. Under Notes mention the promo code – WSAMonthlyoffer. Markets are moving precisely as per pattern expected. Do not miss the opportunity when the probability of success is very high! Subscribe NOW