State Bank of India on 16 February 2014 : Remains Bearish.

I wrote about my perceptions on State Bank of India in my post SBI 12 August 2013 : An Intermediate Bounce is Due and I was prompted for an update elsewhere.  My perceptions continue to remain similar with nothing much to add but it would be worthwhile to post updated charts for the benefit of the readers.

Monthly

Chart posted on 12 August 2013.

























Updated Chart.  The black channel is already breached and purple LTL is yet to be reached.  The intermediate bounce is already over.

Weekly

Chart posted on 12 August 2013.

Updated Charts. 

The green TLs in the chart below are likely to support the fall.  A WW shown in black will be completed once the price action goes below the Black LTL below 1200 to complete the 5th point.  The target for this WW thereafter will be above 2700.  I am expecting the fall to finish between black LTL and purple TL.

 The chart below shows the channels in the moves so far.  Some TLs are shown in purple, which would be of significance.

 The chart below shows two incomplete WWs in black and purple.5th of the smaller one, shown in purple, will complete below 1300 and that of the black one will complete below 1200.  This also shows that the black wollfe will be invalid if the price action goes below thick black TL.

Daily
Chart posted on 12 August 2013.

 Updated Chart.  An additional APF is drawn black and its median coincides with 1300 and LTL coincides with 1200 or lower.

 Hourly

Moves are perceived as the two possibilities shown below.

As long as the UTL of black channel is intact, the bears should prevail.  The consequent targets could remain as 1300 and 1200 and possibly 890 or lower.

Ranbaxy 26 January 2014 : A likely shake-off in progress.

I had last written on Ranbaxy at Ranbaxy 29 Jul 2013 : Broken Down.  Ranbaxy breached back into APF and rose to 490 and fell.  This is how I see it as of now...on daily charts...

The daily chart shows three bullish wolfe waves.  These are shown and labeled in Black, blue and red colors. The base-lines of red and black are already breached and that of blue WW is probably still intact.

 EW wise this is how I see the probable fractals...I am expecting the fall to be shaping up as an ED.  The lowest point that I could figure out after catering for bonus, rights and splits is 76, which is an absolute barrier as I am counting start of a new upmove from there.  The rise finished at 660, which I am taking as end of 1. The next lowest is 133.1, which is taken as 2.A and next rise ended at 624, which I am taking as 2.B.  If the current fall is its C then it should fall below 133.1 and may ideally reach 97.  Possible fractal of the fall from 624 is shown in blue on the chart below.

Possible Trades: 

1.   Long near 300 with SL 300 for above 490.
2.   Long near 260 (if reaches) with SL 250 for above 490 and may be more as 3.3(???).
3.   Long near 133.1 or 97 or 76  with SL 75. for target above 660.
4.   Short near 500 with SL 501 for below 250 and ideally below 133.

As and when they come.


Update 25 February 2014


  
 The APFs  indicate the reason for the rise from 308.  The SFF indicates the likely zone for the correction to the rise.


The hourly showed a clear evening star.  But it would oblige the bears or not, is a million $ question.  A -ve divergence is also visible and makes the case stronger for the bears.

Nifty 14 January 2014 : Three Wolves, All Pointing Downwards and Alive.

Writing after a long gap.  The charts of Nifty show two possible wolves on daily charts as shown in the chart below:

 

 ...and shows another in the 15 minutes chart as shown below.

Nifty 14 Nov 2013 : Possible support reached.

Nifty still continues to maintain the container I mentioned in Nifty 24 September 2013 : The container for some time to come and the inner walls of this container is already breached and breached back. The question now is whether Nifty will kiss the outer wall or it will continue downwards and test the other side.  In my perception, Nifty reached a support zone today.  If it is held, a rise towards the inner wall, which is shown with thick pink line in the chart below, may ensue. Subsequent moves may depend on the strength of the pink line.  I would still like to wait for the kiss of the outer wall (TL joining 6112-6229) which now lies close to 6450:

Nifty 29 Oct 2013 : Still likely to hang between 6000-6260

Nifty continues to maintain the container I mentioned in Nifty 24 September 2013 : The container for some time to come and the inner walls of this container is being dented.  While we wait for this to happen decisively, the current move may be developing as shown on the chart below:

 Three values need to be kept in mind.
6260 - The max blue c can do and a tick above this will make the possibility shown above invalid.  Which will lead us to the next value.
6311 - Removes the possibility of an expanded from 6142 and leads us to next value.
6336 - The minimum value for a 3 wave structure from 5118 developing as 5118-6142-5701-6336(min) to 7356 (max).

Rest after one of these shows up.



ALL THE BEST!