Elliottwave count for SENSEX

amitt29 · #**161** 14th December 2006, 07:16 PM

Quote:

Originally Posted by toxicexpulsion

50% percent retracement of the fall has been achieved. lets see which direction it takes. I have a feeling that it may test the support levels again. I really hope im wrong. Some EW annalist say its the top of the bull market and some say it is the end of the end of b wave of primary wave 4... i am really getting confused. All i care is the bottom line growth is strong, exposure to equities in india is really low some around 3% which will be corrected to about 20% (domestic savings) and the indian economy is own a spectacular growth path with so much more potential. I am going to remain invested.

Toxic,dont get confused with the count,they will always be different count,just be sure that when all analysts say caution(i mean Ellioticians)its time for caution.So whether its bull market over or wave 4,it means caution to bearish depending on time frames.You can keep fundamental things out of the window.Whether its wave 4 or bull market top will be known in a week,just keep a trailing s/l based on conventional TA and trade.

jatayoo · #**162** 14th December 2006, 08:08 PM

dear amit29
IF the sensex retraces above it's 61.8% retracement level and stays above it for a day or two then it will probably go above 140035.The retracement time should be equall to the fall or lessm than it.So let it take time upto monday.

toxicexpulsion · #**163** 14th December 2006, 10:06 PM

i dont know what to say, this really gets complicated. someone told me "buy the company, not the stock" and now im thinking what to do... should i be sticking to the company and stay invested long term or should i sell the stock? see its not that easy

aca_trader · #**164** 14th December 2006, 10:58 PM

Quote:

Originally Posted by toxicexpulsion

i dont know what to say, this really gets complicated. someone told me "buy the company, not the stock" and now im thinking what to do... should i be sticking to the company and stay invested long term or should i sell the stock? see its not that easy

Well, do not change your orientation midway. If u entered the stock for short term, do not convert it into a long term stock, Use ur SL. If your original intention was to purchase for long term, you need not panic until ur long term Sl is hit.

Best Regards,
--Ashish

winstonn · #**165** 14th December 2006, 11:17 PM

hi all,
the recent three day fall has well defined elliot pattern. I think corrective 4th has began. Corrective two was complex elongated flat, so expect this 4th to be zig -zag , and wave A of corrective 4 has well defined 5 wave impulse down on 15 min charts. flats are 3-3-5, so this not a flat, zig zags are 5-3-5,
leg B is completed or not doubt? but anticipate leg c to be harsh and dirty coming in next few days.

then expect new wave 5 of final 5 to begin.

correct if i am wrong???
thanxs
winston.

toxicexpulsion · #**166** 15th December 2006, 01:07 AM

well everyone has a different reading. can it be possible that leg c will end at low of leg a?

winstonn · #**167** 15th December 2006, 09:22 AM

hi toxic,
well if the on goining rally know as leg B retracestill 61.8% of the leg A, zig-zag is very tight and leh C may not be harsh . But , if ongoining rally exceeds 61.8% of A , then perhaps we are in new wave 5 of final 5 .

anotherview is that if 3-3-5 flat is to be developed , A is then 3 ..... A is breaked as 5-3-5 , then this 5 and 3 of A is complete and another 5 has to complete , completing 3 wave A pattern. Then only we could expect the flats or complex flats.

also see the possibility for tringle to develope ???

this is elliot jungle and as market advances , we get fewer and fewer possibilities. so at this time of point, it is not wise to assume that 4th correction will be only zig zag or flat or triangle , let market decide it!!

thanxs

winston

kolossal · #**168** 15th December 2006, 09:47 AM

" this is elliot jungle and as market advances , we get fewer and fewer possibilities. so at this time of point, it is not wise to assume that 4th correction will be only zig zag or flat or triangle , let market decide it!! "

As I always feared the above words literally mean Everybody knows & I dont.

toxicexpulsion · #**169** 15th December 2006, 12:56 PM

i would highly appriciate it if you can give a drawing. thanks.

winstonn · #**170** 15th December 2006, 05:36 PM

hi people,

i have attached the charts for sensex wave count.

the main wave count.

and rest all the charts of present correction.
there are many possible combinations in which market can unfold.
so i have attached all the possible views of corrective iv wave 5 of final 5

monady is a crucial day to narrow down the out look
if market goes up 13700, and holds the level nicely, we are in new wave v of wave 5 of final 5.
if market corrects deeper then the other possible combinations might develope.

correct me if am wrong

thanxs
winston.

Similar Threads for: Elliottwave count for SENSEX
Thread	Thread Starter	Forum	Replies	Last Post
Know All about SENSEX	anubak	Technical Analysis	21	5th November 2008 01:37 PM
book on elliottwave	joy_verma	Trading Resources	0	25th October 2005 06:41 PM
Trading the Descending Triangle in BSE Sensex	Traderji	Technical Analysis	1	18th June 2004 10:07 PM