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Sensex topping out??

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  #1  
Old 12th May 2006, 06:09 PM
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Question Sensex topping out??

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.
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File Type: png Sensex 12May06.PNG (10.1 KB, 363 views)




Last edited by Ajax; 12th May 2006 at 06:42 PM.
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Old 14th May 2006, 10:50 AM
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Default Re: Sensex topping out??

Interesting indeed!
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Old 15th May 2006, 10:54 PM
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Default Re: Sensex topping out??

Can you please explain as to what is "Wholfe Wave". The very term sounds greek to me
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Old 16th May 2006, 08:49 AM
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Default Re: Sensex topping out??

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
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Ajax
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Old 20th May 2006, 08:43 AM
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Default 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.
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Old 20th May 2006, 10:12 AM
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Default Re: Sensex topping out??

Well I found this interesting page on wolfe wave
Have a look

http://www.chart.nu/wolfewave.htm
Pankaj
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Old 20th May 2006, 06:05 PM
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Default Re: Sensex topping out??

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?
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Old 22nd May 2006, 02:15 AM
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Default Re: Sensex topping out??

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 by casoni; 27th May 2008 at 07:23 PM.
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Old 22nd May 2006, 02:25 PM
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Default Re: Sensex topping out??

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?
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Old 22nd May 2006, 11:21 PM
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Default Re: Sensex topping out??

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


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