Market Trend!

Hello Every Body,

This is my first Thread and i Have registered to Traderji today. If you want to know more about me you can check it at the WELCOME thread.

I am here you share the current Market Trend that i have studied. we Seem to be in a Short term Down trend but we are near very Important Support Level. As you can see in the chart attached it shows we are near a Support level and if that level Breaks we should see futher weakness until 12,500. We seem to be in Elliot wave 3 Which means we are in a strong Downtrend (Shrt term). I guess the volatility Should be Comming Down starting tomorrow if the Levels Hold and a Pull back up till 14,900 seems to be on the cards.

Lets wait and watch to see what Happens.

Views of the Forum Members would be Appreciated!

Thanks
RV

Still Awating Forum Members View on The chart Posted

RV

Aget Mob is a gud one. Also try Ellipse.

i Guess if Mob is Broken Then Using Ellipse would be a good idea to show the Next Support level.

Would like to get AW views on the following Sensex lvls :-

A touchdown (close to the previous lows) at 13675

If it doesn't end there, then the levels of 13000-13200 & 12660-12760.

(13000-13200 looks a particularly good bottom out level to me both Technically & Fundamentally)

Worst case : 11000

Regards,
Kalyan.