INTERESTING CHARTS

THIS IS CHART OF GILLANDERS SHOWING AN INVERTED HEAD AND SHOULDERS PATTERN. YELLOW LINE IS NECKLINE ON LINE CHART (BASED ON CLOSING PRICES) AND BLUE LINE IS NECKLINE ON BAR CHARTS. BREAKOUT LEVELS AS MENTIONED IN THE WRITE UP ARE AROUND 185-190 ABOVE WHICH THERE COULD BE GOOD UPSIDES.

THIS IS A DAILY CHART OF GILLANDERS SHOWING CUP AND HANDLE PATTERN. AGAIN HERE BREAKOUT LEVELS ARE AROUND 180-185.

THIS IS AN ATTEMPT TO LABEL LAKSHMI ENERGY WAVE COUNTS. WAVE COUNTS ARE TRICKY THINGS. I HAVE MADE AN AMATEUR ATTEMPT TO PUT THE CHART INTO PERSPECTIVE.  AS SEEN ABOVE THERE WAS A STRONG FIVE WAVE RALLY WHICH TOOK THE STOCK TO ITS HIGHS ABOVE 300 LEVELS AND THIS WAS FOLLOWED BY A SHARP A-B-C CORRECTION, WHICH SEEMS TO HAVE ENDED AT AROUND 63. SINCE THEN THE STOCK WENT UP TO AROUND 175 LEVELS WHERE IT CREATED A TOP.  FIRST WAVE IS USUALLY A WEAK WAVE WITH VERY FEW PEOPLE PARTICIPATING.    WAVE TWO HERE IS A SHARP  CORRECTION DOWN TO AROUND 91 LEVELS WHICH IS USUALLY THE NORM IN WAVE TWO. A DOUBLE BOTTOM OF AROUND 91  WILL BE CONFIRMED ON CHARTS IF THE STOCK MOVES ABOVE 113-114 LEVELS WITH GOOD VOLUMES.  IF THAT HAPPENS, WE MIGHT PRESUME THAT WE ARE IN THE BEGINNING PHASE OF WAVE THREE. EARLY PHASE OF WAVE THREE IS USUALLY SLOW AND GRADUALLY IT MAKES IT TO THE TOP OF WAVE ONE. 


WE NEED TO SEE HOW THE PATTERN DEVELOPS. THIS IS JUST A HYPOTHESIS WHICH NEEDS TO BE OBSERVED. 

THIS IS A WEEKLY CHART OF NIFTY INDEX WHICH SHOWS IT IN A SLIGHTLY UPWARD SLOPING CHANNEL SINCE LAST ONE YEAR .  WE ARE NEARER TO THE UPPER TRENDLINE WHICH HAS IN THE PAST OFFERED RESISTANCE. NEED TO WATCH 5550-5600 FOR ANY RESISTANCE TO THIS LATEST UPMOVE.