waves

any one trading Nifty as per wave theory?

hi rahulraj
as per my wave count nifty is in largest" c "wave down
major top jan08 {3rd impulse ended}
major bottom 27oct08{a down}
major top feb 2010 {recent top}
now as per wave count mkt have to make dobble bottom or new bottom which tell us nifty trgt of around 2200 which i belive {its not sure time wise}
can perhaps come till nov5/15 2010

this prediction is based on my EW count can differ from other i trades on this count only

pranam

you study for long terms based on monthly charts may be okay.

but for short term traders we need your comments on the daily charts.

regards

have posted my comments on the link

http://www.traderji.com/day-trading/38207-intraday-elliot-wave-new-post.html

please give me your feedback

hi scplindia
i belive for very shorter term my ew counts r as follows
1st wave down from 17790-17276
2nd wave up 17276-17712
3rd wave dn 17712-15982
4th wave up 15982 -16552
5th dn 16552-15651
this 1-5 is larger 1wave down
now abc corrective for larger 1 wave
a 15651-16480
b 16480-16074
c is running

i belive it can make top around 16600 from there 3rd wave dn starts whichis always bigger


pranam

your logic seems okay, can you do the same for nifty.

My comments are as below:

this was the alternate theory I was thinking of, based on the rule that wave 3 cannot be the shortest, hence my waves 2 & 3 are part of an abc correction which is wave 2 now and wave 3 has just began and sub wave 1 and 2 in wave3 are just complete. Sub wave 3 of the main wave 3 is now on indicating some more downtrend, which looks quite steep, if your use the channeling technic to calculate the point 4 on the wave theory.

now according to your logic, wave (a) is a 5 wave structure, but according to wave theroy wave (a) is 3 wave structure corrective wave. If it is a 5 wave structure then it is not a corrective wave as per wave theory it is motive wave indicating a that it is wave 1 in a downtrend. Based on this assumption your abc corrective wave now becomes 1,3,5 of the motive waves in the direction of the main trend. & 2, 4 are corrective wave part of the motive wave.

Please advise on my understanding of wave theory.

Now if our logic is okay then we have a serious down trend, which could take us close to 4000 levels. What do you think.

Regards

sorry nis I was trying to reply on the other post, we both are on the same wave length.

Please do the sub structures for nifty the same way you did Sensex using Elliott Waves.

Kindly oblige.

hi scplindia
nifty EW count
1st wave 5311-5169.5
2nd wave 5169.5-5292.5
3rd wave 5292.5-4766
4th wave 4766-4951
5th wave 4951-4675.4
1,2,3,4,5 is larger 1
a wave ended at 4930
b wave ended 4805
c is running
trgt is around 4960/75 aprox.
3rd wave will follow big dn trend





NOTE- havent any one tried W.D.GANN,GEORGE BAYER,SEPHERIAL ...?
IF YES ANY "ASTROLOGY" METHOD IF ANY ONE KNOWS PLEASE SHARE WITH ME




PRANAM

thanks Pranam,
regards

was looking at the waves again. you are saying b ended and c is running. b has to be a 3 wave structure, but I can only see 2 waves so far, so where is the sub wave abc in main wave b. may be we are still in the main b wave with either b or c of the sub wave still running. What do you think.

regards