Elliottwave count for SENSEX

kkseal · #**211** 18th December 2006, 07:21 PM

Quote:

Originally Posted by winstonn

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

Are you sure the recent correction that we had constituted a wave (wave 4 or whatever)? To me it looked like a normal correction that was overdone due to some bad news flows.

Anyway thanks for the update & do keep posting. The more info we have the better.

Regards,
Kalyan.

amitt29 · #**212** 18th December 2006, 09:07 PM

My dears,
If u look at it closely,the market formed a top at 3975(nifty) on 23rd of November,and thats where the divergences set in.IN EW terms it was the Orthodox top,then it was followed by a decline wave A to 3920.Then a B wave to 4030 levels(false top) followed be a wave C to 3600(thus the extent of damage).This is typical of fifth wave(of any degree of 1st or 3rd or 5th)behaviour.Thus the extent of the decline.

For the moment on a closing basis if we stay above 3840 alls well(this is for those who see the divergences in weekly RSI etc).

winstonn · #**213** 18th December 2006, 09:19 PM

hi amit,
you are right, as long as we hold the levels!!!!!!!!!

kkseal · #**214** 18th December 2006, 09:24 PM

Quote:

Originally Posted by amitt29

My dears,
If u look at it closely,the market formed a top at 3975(nifty) on 23rd of November,and thats where the divergences set in.IN EW terms it was the Orthodox top,then it was followed by a decline wave A to 3920.Then a B wave to 4030 levels(false top) followed be a wave C to 3600(thus the extent of damage).This is typical of fifth wave(of any degree of 1st or 3rd or 5th)behaviour.Thus the extent of the decline.

For the moment on a closing basis if we stay above 3840 alls well(this is for those who see the divergences in weekly RSI etc).

Yeah, did notice those divergences & was expecting a correction but thought to qualify as a 'wave' it had to go deeper. Maybe such a wave will come from 14142 or 14607 or 15063.

In any case my knowledge (if you can call it that) of EWT is limited to Vivek Patil's weekly column. BTW have you considered his 'Breakout from running triangle' scenario?

Thanks for the info & do keep posting on your EWT deductions.

Regards,
Kalyan.

amitt29 · #**215** 18th December 2006, 09:44 PM

Hi Kalyan,

No i dont agree with Vivek Patil,simply because its too complicated for me.

.

If u are a medium term player i can decisively say till 3770 is broken on closing basis and consecutively its ok.

Warm Regards
Amit

kkseal · #**216** 18th December 2006, 09:58 PM

Quote:

Originally Posted by amitt29

Hi Kalyan,

No i dont agree with Vivek Patil,simply because its too complicated for me.

.

If u are a medium term player i can decisively say till 3770 is broken on closing basis and consecutively its ok.

Warm Regards
Amit

Thanks Amit Those nos. are reassuring. Appreciate the efforts of you, Winstonn etc. & also taking the trouble to post it here for us EWT illiterates.

Will remember, in fact jot down, your levels.

Regards,
Kalyan.

winstonn · #**217** 18th December 2006, 11:28 PM

hi all friends,

Sensex is in new uptrend i.e. wave v of final 5. This is quite true from EWT.
However, I am very sorry for stating that as long as sensex holds 13600.
The hold level is revised and it is
As long as Sensex Does not Break 13440 levels , wave v of final 5 is in process

pardon me for the error .

thanxs

winston

mansukh · #**218** 19th December 2006, 09:30 AM

Quote:

Originally Posted by winstonn

hi all friends,

Sensex is in new uptrend i.e. wave v of final 5. This is quite true from EWT.
However, I am very sorry for stating that as long as sensex holds 13600.
The hold level is revised and it is
As long as Sensex Does not Break 13440 levels , wave v of final 5 is in process

pardon me for the error .

thanxs

winston

Is it 13440 on closing basis or what?? bcoz it breached 13440 yesterday(18 dec)

amitt29 · #**219** 19th December 2006, 10:11 AM

hi,I think u shud look for behavoiur around critical thresholds and for flexibility purposes closing prices.Ofcourse if u are an intraday person,then u have other tools to assist you in assesing situations.

jatayoo · #**220** 19th December 2006, 12:07 PM

Quote:

Originally Posted by kkseal

Thanks Amit Those nos. are reassuring. Appreciate the efforts of you, Winstonn etc. & also taking the trouble to post it here for us EWT illiterates.

Will remember, in fact jot down, your levels.

Regards,
Kalyan.

----------------------------------------------------
I have met vivek patil and listened to him.
he is sharp,intelligent but keeps things DIM
So that you can't understand him!!
He is a bit obtuse
and tries to confuse
But tells you a bit that is nice
AND you get the rest only on personal advice.

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