IDFC,Bajaj Auto and United Spirits Elliot wave analysis

By | July 18, 2014 7:10 am


IDFC has complted its butterfly pattern which is bearish in nature.Positional traders should look for close below 157 for short term target of 152/149 and 144.

Buy above 160 Tgt 162,164 and 166 SL 159

Sell below 157 Tgt 155,152 and 149 SL 159



Bajaj Auto

Bajaj Auto is on verge of starting its 5 wave, which has target of around 2000.Close below 2060 give short term target of 2009/1974.

Buy above 2104 Tgt 2138,2156 and 2189 SL 2087

Sell below 2071 Tgt 2053,2019 and 1974  SL 2087

bajaj auto


United Spirits

United Spirits has completed its ABCD Harmonic Pattern formation and also starting its C wave which gives initial target of 2316.

Buy above 2420 Tgt 2437,2457 and 2495 SL 2400

Sell below 2380 Tgt 2632,2344 and 2316 SL 2400


United Spirits



Performance sheet for Intraday and Positional is updated for June Month, Intraday Profit of 1.77 Lakh and Positional Profit of 4.77 Lakh


  • All prices relate to the NSE Spot
  • Calls are based on the previous trading day’s price activity.
  • The call is valid for the next trading session only unless otherwise mentioned.
  • Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there.
  • Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits.

5 thoughts on “IDFC,Bajaj Auto and United Spirits Elliot wave analysis

  1. Praveen Khunte

    Hi Bramesh,
    I started following your technical analysis for last couple of days.

    There are two levels given for Bajaj Auto

    First in Black color (Close below 2060….): As I understand that the levels mentioned is for positional and it should be watched on closing basis of the respective scrip on that particular day. As a positional trader, one can enter the trade in Bajaj Auto if it is closing below 2060 on 18-July. Please correct in case I am going wrong in my understanding.

    Further there are levels mentioned in Blue and Red color (Buy above 2104…
    Sell below 2071….): Are this levels are for intraday or can we take positional trade based on the intraday swings above or below the mentioned level.

    Also please advise how to protect our capital in case of gap up / gap down where the price extend beyond stoploss price.

    1. Bramesh Post author

      Hi Praveen,

      Your understanding is correct, Any given day if it closes below 2060 shorts can be taken with SL of 2060 on closing basis.

      Gap up/ Gap down are part of trading, How to trade with them i cover in my trading course.



  2. Girish

    Please make us to see the charts by enlarging it… T
    he charts are not getting enlarged like earlier.


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