Wednesday, June 13, 2012

LT - Elliott Wave Analysis

Most of the stocks are tracing out patterns similar to Nifty, or Nifty is reflecting the patterns traced out by most stocks (to put it aptly). So LT seems to have completed an A-B-C correction and is now climbing up in wave {C}. Right now the whole debate is about the wave II of {C} on Nifty, and what pattern will it form. But whatever it will be, we are in a medium term uptrend, and so the stocks are going up. LT could touch the levels of 1670, and depending on the markets may even touch 2000 mark. But right now we might be in the early stages of a medium term up move, so the best strategy would be to buy on dips (depending on your preferred time fractal). Stay in the trend till it shows clear signs of reversal.

@Shrikant nice to see you after a long time.

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