Indian Equity Market (Nifty) has been consolidating above the psychological level of 8000.
However, stock such as Maruti and Tata motors from the Auto index have
continued the outperformance irrespective of market movement. Basic techniques
like channeling along with short term time cycles are working well on Maruti’s
Trading is all
about execution of trade with price as well as time confirmation and hence we
have been applying time cycle on short term charts to find out probable bottom
or top. The below time cycle is the basic one along with it we are also
applying Hurst time cycle which is the advanced concept created by J.M. Hurst.
Below is taken
Financial Waves Short Term Update” which covers Nifty and 3 stocks
where short term opportunity exists.
chart: (Anticipated in the morning of 18th
chart: (Happened on 19th
of research published in the morning of 18th September 2014)
Irrespective of market movement stock of
Maruti continued outperformance and trading at the life time highs. During the
uncertain period it is better to stick with outperforming stock.
of hourly chart shows that this stock is marching with momentum within the blue
up moving channel. The 59hours time cycle (Bottoming Cycle) is working
brilliantly, prices made bottoms near it and resumed the up run.
In short, for Maruti our bias is
positive with the support of 2910 and prices can move towards 3050 level.
Happened: Maruti achieved our target and currently
quoting around 3100 levels.
To capture short term trading opportunity,
subscribe to “The Financial Waves Short Term Update”. For more
information visit Pricing page