Elliottwave count for SENSEX

gandharvashu · #11 11th December 2005, 09:04 PM

Hi!

I think the most important thing is that we remain in wave 3 and enjoy this ride.

joy_verma · #12 12th December 2005, 10:36 AM

Well that would be great one way road to riches

joy_verma · #13 22nd December 2005, 10:38 PM

hi
Sensex and nifty are in the early sub divisions of wave iii (circled) and not
much has changed. My target for a plus 10000 level on sensex for this move is unchanged. Another development is the chanelled move on the indices(see chart of nifty). This is true as per Traditional as well as elliott wave analysis. At present the indices are on the lower boundary of this
channel. Therefore expect a move for upper end of this channel.
keep an eye on this development as peneteration of lower boundary will be
bearish development while a surge on the upper end will bring about the much
needed cheer for the bulls.
regards,
joy

alokdaga · #14 23rd December 2005, 09:46 AM

Quote:

Originally Posted by joy_verma

hi
Sensex and nifty are in the early sub divisions of wave iii (circled) and not
much has changed. My target for a plus 10000 level on sensex for this move is unchanged. Another development is the chanelled move on the indices(see chart of nifty). This is true as per Traditional as well as elliott wave analysis. At present the indices are on the lower boundary of this
channel. Therefore expect a move for upper end of this channel.
keep an eye on this development as peneteration of lower boundary will be
bearish development while a surge on the upper end will bring about the much
needed cheer for the bulls.
regards,
joy

Hi Joy,

According to Adv. Get - Nifty remains in wave 3 while Sensex is showing ending wave 5 !!!!

Any explanations on that !

Regards

Alok

joy_verma · #15 23rd December 2005, 01:29 PM

Hi Alok
I dont see any good reason to count nifty and sensex differently.
please post charts of two indices as I donot use any software to
count waves . Small deviation in two indices can always be seen
but if there is a difference two waves then it is highly unlikely.
My counts for both indices are posted here and have identical
counts.
regards
joyverma

pkjha30 · #16 23rd December 2005, 02:49 PM

Quote:

Originally Posted by chennamsetty

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Hi
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Pankaj

hdt · #17 24th December 2005, 08:27 PM

Hi

I am new to the world of investing. Elliot wave analysis seems to be quite interesting. I am studying the same via a book titled "Elliot Wave Principle" by Frost & Prechter (20th Edition).

If someone can give me pointers in the right direction for this study, it would be great.

I have seen some of you post attchments with the elliot wave diagrams. I was wondering if there is a free software I can use for the same purpose?

Your help is appreciated.

Regards

Dharmesh

Uday · #18 25th December 2005, 11:04 AM

Hello hdt,

while following Elliott Wave, be flexible to change wave counts as per the dictates of the market, don't be rigid about set wave counts as per the boundaries of the human mind.

Cheers,

Uday.

joy_verma · #19 25th December 2005, 12:56 PM

hi
flexibility is inherent trait of wave analysis. hdt, you are on the right course but do it yourself and donot take recourse to software to count waves you will not become a good elliottician that way. Also study "Elliottwave explaind by Robert c beckman" available with vision books
regards,
joyverma

joy_verma · #20 6th January 2006, 08:45 PM

I have made a small change to my minuttee wave i (circled). Earlier I had indicated that this wave ended on 30nov.,2005.
But keeping note of subsequent developments this wave ended on 23dec.2005 after completing a subminuttee wave (v) ending
diagonal. There after minuttee wave ii (circled) retraced this ending diagonal wave (v) 61.8%. Generally ending diagonals are retraced
completely by the subsequent wave.But this incomplete retracement shows the bullish behaviour of the markets.The wave ii (circled) was completed on 27dec.,2005.This minuttee wave ii(circled) retraced minuttee wave i (circled) only 23.6%. Therefore these two
fibonacci retracements portrays that mood of the traders and investors is uber bullish.
The subsequent wave development is shown
in my hourly chart of sensex. In this case minuttee wave iii (circled) began on 27dec.,2005. so far subminuttee wave (i) is in the
final stages of its development as can be seen on the hourly chart. I hope this wave (i) will be completed somwhere between 9679.72 the wave iii high and 9867 the wave equality target with wave i. Since wave iii has extended waves i and v should tend to equality
Though the first target for v is top of wave iii. This wave development should be completed early next week and, there after I expect
Indices to go into consolidation mode in the form of sub minuttee wave (ii).
Regads,
joyverma (vinay)

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