Defensive bets OR Outperformers

During this volatile times for NIFTY???, get into defensive bets or rather tomorrow’s outperformers.
These are my favorites and have written couple of times on them suggest, have a serious look at them. Invest in them at right prices, posting the charts for you to take your own call. Not interested in posting levels since, there is no response from the blog readers and I’m well aware of the levels for SIP’ing and exit, when necessary

NIFTY – EW Count ???

 

Disclaimer : I’m an absolutely newbie in Elliott Wave so, this is absolutely for my own educational purpose only.

Also, I’m not an big fan of EW; I like to keep it simple but, I’m told that once you grasp Elliott Wave Principle – it is pretty straight forward. Hence, experimenting…

So, here it goes first the blabber then the chart (please ignore the freak tail in the chart). While, I’ll take my best shot at impressing readers with my new found EW knowledge using all the mumbo-jumbo but, still it will be very brief and to the point. But, the key take away is if 5825/5815 levels are breached during this down-move the top will be in place, I said the exact same thing here without EW.

 

The 4 impulsive waves are marked on the chart, waiting to label the 5?. The 3rd wave looks like an extended wave hence, for time being ruling out 5th being an extended but, you never know???. Hence, expecting equality rule to kick-in which means wave 5 will be equal to wave 1, which gives us an target of approximately 6150 levels. So, expecting 6150 unless 5815 is breached which will mean breach of 3rd wave. Wasn’t that simple? Have a look at the chart, the story will be much clearer ………………… BTW, Comments are always welcome !!! 

 

SBIN – Banghead?

Wishful thinking, is SBIN banging its head at strong resistance and loiter around there for some time and break it to test next levels which are 100+ points WOW!!! I will be stunned for sure if that happens, loitering around here for some time before taking the right course is acceptable …
Weekly chart below ….

TATASTEEL–“W”

 

This is not an perfect double bottom pattern but, still falls under the same which is termed as Adam/Eve pattern

TataSteel, needs to hold 420 levels on closing basis and 413 levels on intra basis and we will see some good levels. Although its an investment grade stock, think we will get better levels in future for investment. currently, look at it from trading opportunity only please …

 

NIFTY – Levels to watch

Was not able to post earlier but, whenever I get time I do spend time on twitter @TradeAsInvest.
Here is quick levels for you to keep tab on for Nifty movements. Bias is still up for one last punt to 6150 levels until 5825 levels are broken with conviction, till then we will be playing American football – rough & tough not finesse :)