Elliottwave count for SENSEX

jatayoo · #**201** 17th December 2006, 09:37 AM

Quote:

Originally Posted by kkseal

And Jatayooji

A little more on that 'weakening angle' please. What does Gannji have to say about it? (no verse needed, prose will do!)

Regards,
Kalyan.

-----------------------------------------------------------Dear kkSeal
..........Sometimes i write in prose because though not allways ,yet at times you can express your intutive thaughts in a single line.

Gann states that the most stable angle at which a stock should advance on the price time axis's is 1:1.for every one unit of time a one unit increase in price.the unit could be in day's,months's,or in years.Stock's and Market's can advance at steeper angles but eventually take support on the 1:1 angle.The charts are on log scale.
The movement above and below the 1:1 angle and reversion back to it is the phenomenon of time squaring price,or a cycle as we understand it.
Now our markets have run up pretty fast and far above the 1:1 angle for sure.since may 2006 the line of advance has declined and has not been able to overtake it's earlier line of advance.On three occassions their was a strong upmove which bounced down after it hit the earlier line of advance from below and could not cross it.The correction of december 06 has again pushed the advance to the lower stable angle of advance and a rounding of the top can be seen.Further the market has shown cycle of 34 weeks in previous corrections from one top to the next top..On the weekly charts we have completed 32 weeks since the correction in may06.That's why i wrote that things may be clear in a week or two.Of-course the market can move up,but the move shall have to be so strong as to go far above 140035 in two trading sessions.In fact on the earlier angle of advance we should have been near 15000 if not above it buy now.remember time is going further and further on the "x" axis and we have to make up the ground lost as well.A TALL ORDER I FEEL.
So dear kkSeal how do you like an old geezer's PROSE.DO LET ME KNOW.

kkseal · #**202** 17th December 2006, 04:28 PM

Excellent Jatayooji

Gannji, through yourself sir, has thrown new light on the unenlightened like us. It's literally a new 'angle' for me. There's another crossover to track - those of the Gann lines.

So the next 2 weeks is very vital. It also corresponds to the Fibo count.

In any case, even if we move up from here i don't think we'll go beyond the 1.618 Fibo tgt from the June lows (even that, as you say, would be a tall order).

By the way what happens when we revert back to the 1:1 angle/slope. Do mkts stabilize at these levels? if so then, projecting on your charts, what fig do you get for this bottom (i.e. if we go down from here)??

Thanks a lot for the 'gyan' & please keep posting your views based on your Gann studies (as this is not easy to do for the inexperienced like us even if we have the knowledge). I would suggest you start a new thread on Gann Studies. That way we won't have to search for your valuable posts on the subject.

Regards,
Kalyan.

jatayoo · #**203** 17th December 2006, 06:38 PM

Quote:

Originally Posted by kkseal

Excellent Jatayooji

Gannji, through yourself sir, has thrown new light on the unenlightened like us. It's literally a new 'angle' for me. There's another crossover to track - those of the Gann lines.

So the next 2 weeks is very vital. It also corresponds to the Fibo count.

In any case, even if we move up from here i don't think we'll go beyond the 1.618 Fibo tgt from the June lows (even that, as you say, would be a tall order).

By the way what happens when we revert back to the 1:1 angle/slope. Do mkts stabilize at these levels? if so then, projecting on your charts, what fig do you get for this bottom (i.e. if we go down from here)??

Thanks a lot for the 'gyan' & please keep posting your views based on your Gann studies (as this is not easy to do for the inexperienced like us even if we have the knowledge). I would suggest you start a new thread on Gann Studies. That way we won't have to search for your valuable posts on the subject.

Regards,
Kalyan.

-----------------------------------------------------------
Dear kalyan
I see the difficulty in regaining the momentum prior to june 2006 angle of advance.A trigger like the news today of the govt contemplating a tax holiday for co's setting up HQ in india ,on the pattern of singapore, can to my mind restore it.The advance will go sharply up in a 2:1 angle and soon take rest at the prior levels.It may take a week or so two more,but the vigour of the market will take over.
Should the market decline and take rest on the sedate 1:1 angle it can take support their as it is a good strong support.the pace of the market will be accordingly subdued.If their is inadequate strength it may go the lower and take rest at an angle of 7.5 degrees or 15.0 degrees below it.The longer the time frame the higher will be the market,as time does not stop on the X-axis.As such vigil is kept on the market and i plot it on a weekly basis.

toxicexpulsion · #**204** 17th December 2006, 10:02 PM

its really amazing on how many kinds of technical analysis tools are available today. in the end - the company has to perfom, then the stocks will perform too.

kannamthanam · #**205** 17th December 2006, 10:23 PM

while i am waiting to hear from caldaro saab for the latest count let me just add that there is too much fear and caution all around and so we may still have room to go up, for a historic top should be marked by all around exuberence of manic proportions....

toxicexpulsion · #**206** 18th December 2006, 12:46 AM

dthis is so true, when there is fear and skepticism all around markets go up. the best example is may 06. no one was expecting the markets to recover and make new highs.

kkseal · #**207** 18th December 2006, 01:25 AM

Quote:

Originally Posted by jatayoo

-----------------------------------------------------------
Dear kalyan
I see the difficulty in regaining the momentum prior to june 2006 angle of advance.A trigger like the news today of the govt contemplating a tax holiday for co's setting up HQ in india ,on the pattern of singapore, can to my mind restore it.The advance will go sharply up in a 2:1 angle and soon take rest at the prior levels.It may take a week or so two more,but the vigour of the market will take over.
Should the market decline and take rest on the sedate 1:1 angle it can take support their as it is a good strong support.the pace of the market will be accordingly subdued.If their is inadequate strength it may go the lower and take rest at an angle of 7.5 degrees or 15.0 degrees below it.The longer the time frame the higher will be the market,as time does not stop on the X-axis.As such vigil is kept on the market and i plot it on a weekly basis.

Hope the first scenario that you envisage materializes into reality!
Please keep posting your weekly deliberations based on Gann studies.

Thanks & regards,
Kalyan.

kkseal · #**208** 18th December 2006, 01:30 AM

Yes, ToxicExp & Kannamthanam - there's too much fear & skepticism around which is not typical of a mkt top. In fact i see no euphoria, only fear. That makes me hopeful.

Regards,
Kalyan.

winstonn · #**209** 18th December 2006, 03:48 PM

Hi all people,

there were many possible ways that 4th correction could have developed and i presented many of them.

Looking at todays rally , the possible wave count is narrowed. It is most probable that sensex has started new wave V of final 5. Correction may have ended.
This outlook is valid till sensex holds 13600 levels.

Dont bother at minor reactions!!!!!! But be on caution when 13600 is broken.

Possible next minimum target for wave V is 14800 untill wave V is not a failure
Check for possible wave V termination in the month of Jan to Feb ,07.

thanxs

winston

toxicexpulsion · #**210** 18th December 2006, 04:35 PM

good work winstonn. keep posting the updates

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