Rally ends and ready for a Crash Land!!!

The rally started from April 2003 reaching its upside target? If we look in broad pespective, we are in final 5th wave. It's clealy looking for a target
of 4360. (Wave 3-Wave I)*0.618 + 2595 = 4360. But we look the charecteristic of the fifth wave only, it looks the upside target 4550 levels.
Even this target may not achieve, if nifty closes below the narrow channel we are currently into. The possible future course of nifty is indicated in the attached file. Your views and replies are invited.


Aroonsankar

PL be good enough to highlight the waves in the attached sensex chart (which should mirror nifty)

Thankshttp://finance.yahoo.com/q/bc?s=%5EBSESN&t=5y&l=off&z=l&q=l&c=
AGILENT
PS By the way, do u believe in the slogan India Poised ?

2k on nifty looks SEXY to me.

me too..hahaha

Lets not jump the gun shall we guys.

MAY BE IT CAN BE BOTH WAYS CORRECT FOR THE COMING MONTHS(?)-NOBODY HAS INDICATED THE TIME AS YET,JUST THE TARGETS(?)
SO MAY BE 4900 AND THEN 2K (OR VICE VERSA)-?

Interesting thread. Im going to keep a watch on it.

what is this man....
will it really go down and touch earth..

As on expected lines, nifty starts falling. Now the crucial support is at 4010. If it closes below 4000 level convincingly, we can assume that the final fifth wave is terminated and end of bull rally. Else it has the ability to test higher - even 4360, (the final one) as mentioned in jan 26 post. And then go down steeply. Fall is inevitable in both cases

Aroonsankar

Hi,
Whenever there is a steep correction i have heard all kind of opinions.Many a time in past this excessive apprehension clouded my emotion & lost good oppurtunities.Tell me who amongst us has not seen the shooting star of friday , the advance/decline , the negative Dow , the high PCR & the todays gap down opening,all of us was anticipating this to happen.Now make an exploration for last 500 days with 2 criteria close greater than previous close & close less than previous close you will see yourself that out of last 500 days say for Aban it is 246 (c >ref(c,-1) & 254 (c< ref(c,-1).So in last 500 days Aban has given only 8 negative days ,do your chart of Aban corroborates that ? Hence think clearly to focus with a Stock specific attitude to find which one has completed or to complete its downward 5th & thank mkt that it has again given you an oppurtunity to enter your Dream stocks,as like all prudent trader today you are again at almost 80% cash.Hear all the opinions but judge with a clear mind where & when to short or long.Actually i have lost many such oppurtunities in my earlier years of trading.
Asish