Elliottwave count for SENSEX

caldaroEW · #**271** 29th May 2007, 10:41 PM

Quote:

Originally Posted by toxicexpulsion

according to him, the bull run is over!

does anyone else have any alternate views?

Hi!
I recently received an email from this forum. Read your comments and decided to respond. Just this weekend we reviewed the BSE to unravel what has transpired for the past several months. The results are still the same, the bull market is likely over, but the count has changed a bit.
One thing we noticed, however, is that Major wave 4 is quite small compared to Major wave 2. This leads to the possibility that from the Major wave 3 high at 14,000, a Major wave 4 expanding triangle has been in effect.
How this would count is this:
the drop below 13,000 would be wave A
the rally to new highs would be wave B
the subsequent drop to 12,300 would be wave C
and the current rally wave D.
This implies a decline to a lower low soon: wave E
After the next decline, if it is not too damaging, the liklihood of new highs are still possible. This next decline will be the most important for the bull market as a whole.
Been a tricky market for several months now. Hope this helps!

ramesh innani · #**272** 9th December 2007, 10:15 PM

Interesting thread...........keep up the great work

hughjbill · #**273** 14th March 2008, 03:34 PM

Quote:

Originally Posted by joy_verma

hi Alok,
well,there was a labling error on the previous chart ,so I am posting
my count again.as regards your query I think there are two ways of
counting the move from may 17,2004 low to the high of 8822. The first
count which is my preferred count is the one which I have posted
today.the other is my alternate count the 8822 according to which is
wave 5 from may2004 low and also the completion of wave count from
the low of sept.21,2001,(and also the begining of a bear market ).
But my preferred count which I have posted today does
suggest that we should get a new high in the jan,feb 2005. this fact
is also supprted by the fact that 12 month cycles for the past
years are topping in the months of jan-feb every year. for example
jan 2004 and jan 2005. so until we go decisively much below 7537
my perferred count will stay put and I do expect markets hitting new
highs.
regards,
joy_verma

The proportion of the last impulse wave is incorrect

therek · #**274** 25th March 2008, 07:35 PM

http://stockcharts.com/h-sc/ui?s=$BSE&p=D&b=3&g=0&id=p98984456199

There seems to be triangle from mid Jan to end Feb.

If so, the pattern has to be corrective. (=> the bull will continue)

jaison_kj · #**275** 25th March 2008, 08:01 PM

hello joy.....

I am jaison from kerala. what u mean by this wave could u explain to me email jaison_kj@************

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