mkt to reach 11k till march end

#1
ppl pls be cautious.

we are in 5th wave of decline according to elliot wave and weekly charts of nifty are terrible with stoch in still overbought zone with falling rsi ..

this is confirmed with fall with huge volume last week and rally on low volumes.

all i want to say dont forget the lesson 2007 &2008 thaught us...

play safe
 
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chaitanyagoa

Well-Known Member
#4
this rally can go upto 16800 then downward trend will resume once again...
Is there any logical analysis to the comment you mentioned!!! Because i don't see that kind of numbers coming anytime soon!!!:annoyed:
 

sudoku1

Well-Known Member
#5
whatever it comes....a trader surfing with the wave need not worry till his surfing board becomes hard !!!

365 days a year u can b surfing !;)
 

chaitanyagoa

Well-Known Member
#8
I appreciate your work brother....

But a fall or rise of a mere 200 points do not change the trend.... INorder to get to the 11K mark the Sensex has to break some key support areas which looks highly Unlikely to me...... :)

Anyways ... nice to see some one working ....:thumb:
 

findvikas

Well-Known Member
#9
I have stopped believing in Support & Resistance.. they are there to fool people. I have started trading 90% of times on Waves and for the rest 10% I do not trade at all. I am not showing my counter view neither I am saying market will correct till 11k or it won't.

All I am trying to say is that market trend in continuous waves and like an ocean there are smaller waves and larger waves which when collide with each other create an area which might appear as support or resistance. Now coming down all the way from 5300 to 4700 didn't we had support or resistance levels in between ? yes we had so many of them at may be every 50-70 points of fall but did market cared about them? Was it operator action, may be but all influenced by the waves.

Two reasons that I see why we fall and fall so much, there was a completion of a bullish wave.. which means a due correction or pull back... to fuel it further there was a bearish wave so while market was about to pull back there was further force to take it back.

The current bearish wave is still due for a touch down to the target line, if we touch that line tomorrow then this bearish wave is over.. but if we gradually continue to slide it may take even 2-3 months to complete and touch down.

Believe me the more indicators you add to the chart, the more difficult you make it for yourself to see the beauty of waves. I have switched to just Candlestick charts as they look good on screen with nice red & green bars :) and not more than 3 trend lines.
 
#10
I appreciate your work brother....

But a fall or rise of a mere 200 points do not change the trend.... INorder to get to the 11K mark the Sensex has to break some key support areas which looks highly Unlikely to me...... :)

Anyways ... nice to see some one working ....:thumb:
this is not change in trend

u see on daily charts rsi and stoch indicator were in oversold territory that counts for technical bounce .... this is just that .

to identify trend u hav to use weekly or even monthly charts....

downtrend is still intact in weekly charts which i hav uploaded...

long term investor shld use weekly to monthly charts as u know ur 5yrs gain can be wiped off in matter of 3-6 mnths in time of uncertanity we leave in...
 

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