Elliott wave update for Sensex

[Luckytrader]

Question on icharts.in:

How did u plot the 10min nifty data using icharts.in. I am only able to see the daily and weekly as options.
Is it some other paid service or u have clubbed the icharts with some other software?

Hi

Just become a registered user of ichart,
then you can also view 10 min chart

Regards,
Luckytrader

 

[RSI]

Hi Winston,
Just two doubts with regard to support picture posted by you. Especially with regard to the trendline. Will it not be better if we take logarithmic scale instead of arithmatic scale (as you have done) especially when the price (I mean sensex points in this case) covers such a large range from 3000 to 15000? See the image posted by me below on logarithmic scale for the same period as I have done.

Secondly, will it not be better to draw trendline from the begining of a trend such as from the bottom of wave 2 or bottom of wave 4 rather than from the middle of a trend that too from throwback bottom?
I am just trying to learn things.
Regards
R. S. Iyer

 

[ssprasad]

Hi

Just become a registered user of ichart,
then you can also view 10 min chart

Regards,
Luckytrader

I got it. Thanks

 

[soody]

Come lets all short the Nifty and Sensex for a targets of 2600/9000 on the Nifty/Sensex. Even 1 lot(rolling over 3m fut) will yield Rs60K ! based on this forecast!

 

[winstonn]

Hi RSI,

good question,

log scales , i prefer to use for grand cycle degrees. Just a wave started from 2003 should not be applied log scale.

And secondly,

we are drwaing trendline not from bottom of wave 2 to 4 because we are not looking for largerer corrective wave support, but we are looking for Leg A support which is a part of the correction.


Regards,
Winston

 

[winstonn]

Dear Soody,

dont expect 8800 within 3 months,
Expect this level within this year.

 

[soody]

Hi winstonn,

I meant rolling over 3m futures maybe twice.Say short Jun fut tomorrow and then during June, Aug fut and during Aug, Oct fut. So that by Dec07 u will have ~60k!

 

[RSI]

I meant rolling over 3m futures maybe twice.Say short Jun fut tomorrow and then during June, Aug fut and during Aug, Oct fut. So that by Dec07 u will have ~60k!

Do I smell emotion "greed" here?