Update: Raising Wedge in Ranbaxy - 22nd Sep 09

Ranbaxy Chart - Daily:

Raising Wedge posted earlier on Ranbaxy broken the resistance line decisively, so invalidating this pattern.

Update: Raising Wedge in Ranbaxy - 15th Sep 09

Ranbaxy Chart - Daily:

Raising wedge in Ranbaxy posted earlier is still intact, if the resistance line is broken then wedge gets invalid

Raising Wedge in Ranbaxy - 26th Aug 09

Ranbaxy Chart - Daily:

Ranbaxy formed a Raising Wedge pattern in daily charts, support line is little bit steeper in my view, but it is still tradable. Now it is at the resistance line, short trade can be taken when it gives breakdown with confirming volumes.

Update: Bullish Gartley in Ranbaxy 25th Aug 09

Ranbaxy Intraday Chart - 5 mins:

High risk traders who have entered the long trade, in Ranbaxy would have gained much. They would have got 12% profits till now.

Update: Bullish Gartley in Ranbaxy 20th Aug 09

Ranbaxy Intraday Chart - 5 mins:

Update on Bullish Gartley in Ranbaxy, it opened at 305.2 and started falling down, so no trade is triggered on Ranbaxy. If tomorrow we take trade above 305.2 + filter then risk/reward would be too high. Hence only high risk trades can take the trade. Above is the updated chart.

Bullish Gartley in Ranbaxy 19th Aug 09

Ranbaxy Chart - 5 Mins:

Ranbaxy formed a bullish Gartely. It took support from the Fibonacci levels convergence is good, but the ABCD pattern is not perfect. So the trade must be taken with strict stop loss on good entry signal. If trade triggers would suggest trailing stop loss. If it breaks 298 then the chance of falling to 293 to 290 levels may become more.

Update: Bearish Wolfe Wave in Ranbaxy

Update on Bearish Wolfe Wave in Ranbaxy that I posted yesterday.

Ranbaxy moved down as expected. Today it formed falling wedge pattern, but the break out of the wedge is not convening as the spread of the break out bar is not big and volumes are also low in that bar. As the break out is not convening, holding the short trade and moving the stop loss to previous pivot high.

Bearish WW in Ranbaxy

Bearish WW in Ranbaxy, but the price exceeded sweet zone at 5. This is a risky trade as price is exceeded the sweet zone. Short trade is already triggered as 1-3-5 trend line is broken down. Stop loss is at 240, target is 1-4 line marked with aqua.