Elliottwave count for SENSEX

Discussion in 'Technical Analysis' started by joy_verma, Oct 28, 2005.

  1. joy_verma

    joy_verma Member

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    Hi
    My guess is we have finished wave A of 4 or should finish it today.
    If the proposed wavecount is true we should expect wave B of 4
    begining today.
     

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    jraj likes this.
  2. alokdaga

    alokdaga Active Member

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    Re: Elliottwavecount for SENSEX

    Hi Joy

    Looking at the larger wave patter - the 5th fave for sensex remains pending? So any run from hereon will cross previous highs? Is it so?

    Regards

    Alok
     
  3. joy_verma

    joy_verma Member

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    Re: Elliottwavecount for SENSEX

    hi Alok,
    well,there was a labling error on the previous chart ,so I am posting
    my count again.as regards your query I think there are two ways of
    counting the move from may 17,2004 low to the high of 8822. The first
    count which is my preferred count is the one which I have posted
    today.the other is my alternate count the 8822 according to which is
    wave 5 from may2004 low and also the completion of wave count from
    the low of sept.21,2001,(and also the begining of a bear market ).
    But my preferred count which I have posted today does
    suggest that we should get a new high in the jan,feb 2005. this fact
    is also supprted by the fact that 12 month cycles for the past
    years are topping in the months of jan-feb every year. for example
    jan 2004 and jan 2005. so until we go decisively much below 7537
    my perferred count will stay put and I do expect markets hitting new
    highs.
    regards,
    joy_verma
     

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  4. joy_verma

    joy_verma Member

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    Re: Elliottwavecount for SENSEX

    Sensex went on to achieve new high as expected and my count and expectation of a new high were correct. So we are now in a new impulse wave
    Time wise wave 4 lasted for only 16 days which put some doubt about the
    wave count and a possible extension of wave 3. if this alternate is correct sensex may achieve much higher targets than expected.But till times a concrete
    evidence of this extension of wave 3 is not at my hand,I will curtail my bullish alternate count and go with my prefferred wave count that suggests the begining of wave 5 at 7656.15 level.
    Regards,
    joy_verma
     
  5. kaka

    kaka Member

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    Re: Elliottwavecount for SENSEX

    hi joy

    long time no update?
     
  6. Saint

    Saint Banned

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    Re: Elliottwavecount for SENSEX

    Hi Joy,

    Interesting thread...........keep up the great work.

    Saint
     

  7. joy_verma

    joy_verma Member

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    Re: Elliottwavecount for SENSEX

    hi all
    looks like first wave of new impulse has ended at 9000 plus levels . what
    we are witnessing is wave ii (circled) of this impulsive move. The resolution of this second wave will give rise to an impulsive wave three with targets which could propel the sensex above 10000 mark in the near months.
    regards,
    joyverma
     

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  8. chennamsetty

    chennamsetty Member

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    Re: Elliottwavecount for SENSEX

    hai friends many of us do the one simple mistake counting the waves from
    middle and not from the start of the begining.

    i am attaching the following chart according to it we are in an extended third wave(most probably) or a fifth wave (less probable)
    if we are in extended third there are two senarios

    1. we are in correcting phase of the third wave (most probable)
    2. we are in a fifth wave of the third wave ( less probable )

    i feel that the firth wave will of third will extend upto 3000 nifty and a collerting wave will take it down to 2300 and from there on the firth and
    final wave may take us upto 3400 or 3300 levels

    any improvement in wave counting of mine is welcome i have done this on a larger scale of three years and on monthly charts

    and can some one help how to convert .bmp chart to other forms


    hai credit violet how are you i have learnt a lot from you right from hard ware of a computer thank you friend
     
  9. joy_verma

    joy_verma Member

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    Re: Elliottwavecount for SENSEX

    hi chennamsetty,
    I had a look at your count. It looks pretty bullish. It seems
    you are counting the waves from april 03.your wave1 ends in jan 04 wave2
    in may 04 and your wave 3 is in progress and in wave 3 nifty is in extended
    wave third of third. that is pretty bullish.
    My count begins from sept. 01
    first wave of my count ended in feb 2002 . my wave2 ended in apr 03, wave3 ended in jan 04 ,wave4 in may04 and presently we are in extended
    wave5 in which we have entered probably in wave third of fifth of fifth.
    My alternate count shows us in third of third of fifth.
    My counting of waves do not stop at sept01 lows neither do I count waves from the middle of advance. I have fairly long wave count at hand which goes back to almost 1945 when RBI share index began.
    regards,
    joy_verma
     
  10. joy_verma

    joy_verma Member

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    Re: Elliottwavecount for SENSEX

    hi chennamsetty
    here is complete monthly count for nifty since sept. 2001 lows
    you can convert .bmp files to .gif in paint.
    regards,
    joy
     

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