Sensex topping out??

Discussion in 'Technical Analysis' started by Ajax, May 12, 2006.

?

Is wolfe setup ok?

  1. Yes

    22 vote(s)
    75.9%
  2. No

    2 vote(s)
    6.9%
  3. Dont know

    5 vote(s)
    17.2%
  1. Ajax

    Ajax Well-Known Member

    Joined:
    May 11, 2006
    Messages:
    710
    Likes Received:
    342
    Trophy Points:
    63
    BSE SENSEX, NIFTY, JR NIFTY , all are showing ? wolfe wave formation on daily charts. If it is indeed Wolfe wave set up then the target is < 9000 for sensex or touch down to red trend line. Please comment. Only price action matters. Nothing else.
     

    Attached Files:

    Last edited: May 12, 2006
  2. dilip2k

    dilip2k Member

    Joined:
    Oct 18, 2004
    Messages:
    71
    Likes Received:
    2
    Trophy Points:
    8
    Interesting indeed!
     
  3. munchikana

    munchikana Member

    Joined:
    Apr 29, 2006
    Messages:
    130
    Likes Received:
    5
    Trophy Points:
    18
    Can you please explain as to what is "Wholfe Wave". The very term sounds greek to me
     
  4. Ajax

    Ajax Well-Known Member

    Joined:
    May 11, 2006
    Messages:
    710
    Likes Received:
    342
    Trophy Points:
    63
    Dear munchikana
    Wolfe wave is naturally occuring phenomenon in all markets (equity, commodity anything). When properly identified gives definite price entery & targets. No indicators, ma etc are required. Just the price action. It seems we are bang on target on BSE sensex. For more info search 'Wolfe wave' in traderji or visit www.wolfewave.com
    Regards
    Ajax
     
  5. Ajax

    Ajax Well-Known Member

    Joined:
    May 11, 2006
    Messages:
    710
    Likes Received:
    342
    Trophy Points:
    63
    Sensex / Nifty Crash - Prediction comes true!!!

    10 May 2006 - We said 'Sensex/Nifty topping out' Major correction due.
    Touch down to red line possible
    19 May 2006 - Nifty falls by ~ 500 points - touches the red dotted line in 7 trading sessions.
    Thats wolfe wave for you. Once properly identified > Target will be met as
    was yesterday.
    No need for oscillators, indicators, fundamentals, tv news etc etc. Just pure price action.
     

    Attached Files:

  6. pkjha30

    pkjha30 Well-Known Member

    Joined:
    Mar 24, 2005
    Messages:
    1,928
    Likes Received:
    214
    Trophy Points:
    63
    Location:
    India

  7. munchikana

    munchikana Member

    Joined:
    Apr 29, 2006
    Messages:
    130
    Likes Received:
    5
    Trophy Points:
    18
    Dear Ajax
    I have gone through some of the literatures and graphs on Wolfe Wave. Indeed amazing. Thanks a lot for making me aware of this form of technical analysis. Thanks traderji for having highly informed members like Ajax. What will happen next? Target line is met as per your latest nifty graph. Are we back for happier days?
     
  8. casoni

    casoni Well-Known Member

    Joined:
    Feb 19, 2006
    Messages:
    397
    Likes Received:
    487
    Trophy Points:
    63
    dear all.....see nifty chart with elliott labeled......i think .that wave 4 has completed or it is about to complete...next will be wave 5 ...see chart
     
    Last edited: May 27, 2008
  9. munchikana

    munchikana Member

    Joined:
    Apr 29, 2006
    Messages:
    130
    Likes Received:
    5
    Trophy Points:
    18
    Hi Ajax,
    Where are you? Great analysis. Initially when you posted the chart with a target for Sensex <9000, it looked as if it will take a whole lot of time to get there. But look at the levels now. We have almost reached the destination mentioned by you. It appears as if some one pushed Sesex and Nifty from HImalayan mountain to deep down. What do you think now? Is it the time to hop in and buy a few good stocks in small quantities so as to test the water?
     
  10. Ajax

    Ajax Well-Known Member

    Joined:
    May 11, 2006
    Messages:
    710
    Likes Received:
    342
    Trophy Points:
    63
    hi munchikana
    the projections on sensex & nifty almost met with. Once the volatality is over
    lets see what trend emerges, only then think of buying. If I can spot a wolfe
    anywhere (to buy) I will post it here. But wait for this blood bath to settle down
    regards
    Ajax
     
Loading...

Share This Page