Nifty intra day update 23-02-2016

From the top of 7252.20 to the low of 7153.50 a 5 waves seems to be done (unless 5th wave is subdividing), in such case it may go below the current low.
Now we need to watch the retracement of the fall from 7252 to 7153. Weekness is to return it should be around 7205 or 7214 which is 50 to 61.8% retrace.
Strenght gets confirmed above 7232 which is 80% of the retace.

Also to monitor is the fast retrace of the fall from 7178.9 which is the top of the 4th wave in the current fall. This will further guide whether the 5 waves are done or is subdividing.

Intra day long with 7143 (Day low -10) may be a good risk reward trade.

Nifty 22-02-2016 Elliott wave

In the 5 min chart Nifty appears like making a final 5 waves of the 'C' of [iv] wave up.
This minor 5th wave appears like making an ending diagonal, of which a-b-c-d are completed and the final 'e' is pending. This 'e' might or might not reach the converging trend line and break in the down side. If this is not breaking the upward trending (lower trend line) before lunch time on 23-02-2016 then we can consider that the above view is negated.

Nifty 5 min chart for 22-02-016:

Biocon 22-02-2016

Biocon appears like completed an a-b-c Elliot wave correction. This could be the end of the correction or it could simply be the 'a' wave. In either case the follow-up after this is another impulse upwards or a correction as in a FLAT which again is upwards and may go all the way upto 540 or 570 region.

Daily Ellioet wave chart:

Nifty intra day 18-02-2016

Nifty Elliott wave
Nifty seems to be making a 4th wave up in daily time frame.
On the hourly time frame it seems like forming a-b-c of which a & b waves are over. Currently it is moving up in wave 'c'.
5 min chart below shows that Nifty might have completed waves 1,2 and 3 at todays high sofar. Now it is forming the 4th wave.
As the wave 2 is very deep, based on alternate guidelines wave 4 may be very shallow. But this may be time consuming.
This view will be negated once the market moves below 7057.55 which is the top of wave 1.

Nifty 5 min chart:

Biocon 17-02-2016 daily

Biocon is correcting in a channel. If it breaks on the up side, it may go up with speed. The correction so far can be viewed as zig-zag in Elliott wave. The channel break out will produce a good trade-able move.

TCS - 17-02-2016 weekly

Atul Auto - 17-02-2016 daily chart

It looks like Atul auto is forming a triangle. It is final leg where it has completed a & b. Now the final leg of this 'E' wave, which is 'c' is in progress. This may complete near 400.

If we see the length of 'a' => 584.60 - 459.05 = 125.55
if a=c then 'c' => 485 - 125.55 = 359.45

c=a * 0.618 (minimum) = 485 - (0.618x125.55) = 407.40

So 407 to 360 can be the range to enter into this for a spectacular 5th wave up. Which may go up towards 850 to 950 range if holds the triangle boundaries.