I am just cut&paste this article from other forum.............
Dear all,
We are witnessing the beginning of a final decline. Yes we are on the darkest of the dark wave called The C wave.
Those who are new to these updates should read following threads as previous useful presentations. This is a fourth one in the series.
3 Midway on Correction-BSE sensex Projections-10-05-08
2 BSE sensex projections on 22-03-08
1 BSE Sensex Projections (Forecast or attempted forecast) in coming days with Elliott's wave principle-Please read carefully and share your views
0 Elliott's wave principle
Those who have been following thes eprojections since 30th January 2008,
*Previous Updates and useful Notes with Observations (To recap)*
---------------------------------------------------------------------------*-------------------------
Corrective waves are as follows.
Wave A (Has five sub waves and we have seen them all above, they were sub
wave 1, 2, 3, 4, 5)
Wave B (Has three sub waves namely wave A, B and C)
Wave C (Has five sub waves Sub wave 1, 2, 3, 4, 5)
---------------------------------------------------------------------------*------------------------------
Wave count/Where we are?
---------------------------------------------------------------------------*----------------------------------
Wave counts are as follows.
Wave A Sub wave 1(21200 to 15332)
Wave A Sub wave 2 (15532 to 18895)**
Wave A Sub wave 3 (18895 to 16457)
Wave A Sub wave 4 (16457 to 18314)
Wave A Sub wave 5 (18314 to 14677)
Wave B and all sub waves are as follows.
Wave B-Sub wave A - 14677 to 17735
Wave B Sub wave B 17735 to 16546
Wave B Sub wave C 16546 to 17496
Wave C and all sub waves are as follows.
Wave C1- 17496 to 16196.
Internal of Wave C1 (Five Sub Sub waves as 1, 2, 3, 4, 5)
Wave C1-Sub wave 1 - 17496 to 16196
Wave C1-Sub wave 2 16196 to 16415 and on going
---------------------------------------------------------------------------*------------------------------------------------
The very Latest Updates
31-05-2008
Wave C has five sub waves
Sub wave 1, 2, 3, 4 and 5. 1, 3 and 5 goes down and 2 and 4 goes up. 1, 3, 5
are used to buy on LT and 2 and 4 are used to sell and generate cash.
We are on C1. We may see a sharper down move soon. This can take us towards
14700. I expect following as an end point for C1 before we see a good up
move which would be a last decent up move. (As a part of C2 as C4 won't be
as good as C2)
1 15845
2 15700
3 15300
4 14700
5 14500
As a result of C1 we may see one of the above levels. C1 is not a great
level to buy everything but scripts that have gone down significantly lower
can be bought for LT. I expect it to touch 15700. If it goes below 15300
then we my see a new bottom. Remember one of the correction points
forecasted on 30th January is 14100, which is 38.2% correction of the whole
cycle. We would certainly see that level even if we may not touch to that
level as C1. Traditionally C3 and C5 are the finest opportunites to invest
for LT. Correction would end at C5 and a new Bull Run shall begin.
My first Bull Run estimate within a year or two is 24700 minimum but
definitive figures would be given once we touch to bottom.
As a part of C1-4 we may see 16600, 17000 (Nifty 5050) One may come out at
that stage to generate cash.
As a part of C2 we may see 16200, 16570, and 16600, 16900, 17200, 17500 or
so. We shall certainly see 17000+ one more time before a final decline, as
per my projections.
The above are only estimated projections as we haven't seen the end point of
C1 yet.
*What to do/What is my strategy?*
*
---------------------------------------------------------------------------*-------------------------------
*
C1 offers some buying opportunities. I would be a buyer at these low levels.
I would buy SIP style. However I would certainly keep some cash in hand to
shop at lower levels later.
Elliott's analysis doesn't offer day to day movement of index. I think it is
actually an advantage as some argue that is not.
A down move can take up to a month or two. One must keep these remarks in
mind.
The above advise must be strictly followed with discipline other wise there
are great chances of getting stuck at higher levels. 16415 is still not a
good enough level to buy and this is a clear message from me.
I guess because the range is getting narrower and narrower, trading
opportunites are gone. Up moves can be used to sell and generate cash, as
simple as that.
When we may move up, it provides another and probably final decent
opportunity to sell. One mustn't miss that. This will be clearly seen as a
part of C2. As I said, C4 wouldn't be as great as C2 and C5 would be much
deeper than C1, for sure.
Personally, I would buy and wait for further down falls to invest for a long
time. Investment at or around 14100/14700 would double in 2 years time, as
per my projections.
Technical analysis is not enough to project market movements correctly all
the time hence I also analyse economy. These discussions are within another
thread called Classic battle/Battle Home front. Needless to say that Indian
economy is passing through a rough patch. That coincides perfectly with the
final decline in form of the darkest of all, called C wave.
Any questions, please ask. Healthy criticism is more than welcome.
I wish you all good luck from the bottom of my heart.
Best Regards
Spandan Joshi
Dear all,
We are witnessing the beginning of a final decline. Yes we are on the darkest of the dark wave called The C wave.
Those who are new to these updates should read following threads as previous useful presentations. This is a fourth one in the series.
3 Midway on Correction-BSE sensex Projections-10-05-08
2 BSE sensex projections on 22-03-08
1 BSE Sensex Projections (Forecast or attempted forecast) in coming days with Elliott's wave principle-Please read carefully and share your views
0 Elliott's wave principle
Those who have been following thes eprojections since 30th January 2008,
*Previous Updates and useful Notes with Observations (To recap)*
---------------------------------------------------------------------------*-------------------------
Corrective waves are as follows.
Wave A (Has five sub waves and we have seen them all above, they were sub
wave 1, 2, 3, 4, 5)
Wave B (Has three sub waves namely wave A, B and C)
Wave C (Has five sub waves Sub wave 1, 2, 3, 4, 5)
---------------------------------------------------------------------------*------------------------------
Wave count/Where we are?
---------------------------------------------------------------------------*----------------------------------
Wave counts are as follows.
Wave A Sub wave 1(21200 to 15332)
Wave A Sub wave 2 (15532 to 18895)**
Wave A Sub wave 3 (18895 to 16457)
Wave A Sub wave 4 (16457 to 18314)
Wave A Sub wave 5 (18314 to 14677)
Wave B and all sub waves are as follows.
Wave B-Sub wave A - 14677 to 17735
Wave B Sub wave B 17735 to 16546
Wave B Sub wave C 16546 to 17496
Wave C and all sub waves are as follows.
Wave C1- 17496 to 16196.
Internal of Wave C1 (Five Sub Sub waves as 1, 2, 3, 4, 5)
Wave C1-Sub wave 1 - 17496 to 16196
Wave C1-Sub wave 2 16196 to 16415 and on going
---------------------------------------------------------------------------*------------------------------------------------
The very Latest Updates
31-05-2008
Wave C has five sub waves
Sub wave 1, 2, 3, 4 and 5. 1, 3 and 5 goes down and 2 and 4 goes up. 1, 3, 5
are used to buy on LT and 2 and 4 are used to sell and generate cash.
We are on C1. We may see a sharper down move soon. This can take us towards
14700. I expect following as an end point for C1 before we see a good up
move which would be a last decent up move. (As a part of C2 as C4 won't be
as good as C2)
1 15845
2 15700
3 15300
4 14700
5 14500
As a result of C1 we may see one of the above levels. C1 is not a great
level to buy everything but scripts that have gone down significantly lower
can be bought for LT. I expect it to touch 15700. If it goes below 15300
then we my see a new bottom. Remember one of the correction points
forecasted on 30th January is 14100, which is 38.2% correction of the whole
cycle. We would certainly see that level even if we may not touch to that
level as C1. Traditionally C3 and C5 are the finest opportunites to invest
for LT. Correction would end at C5 and a new Bull Run shall begin.
My first Bull Run estimate within a year or two is 24700 minimum but
definitive figures would be given once we touch to bottom.
As a part of C1-4 we may see 16600, 17000 (Nifty 5050) One may come out at
that stage to generate cash.
As a part of C2 we may see 16200, 16570, and 16600, 16900, 17200, 17500 or
so. We shall certainly see 17000+ one more time before a final decline, as
per my projections.
The above are only estimated projections as we haven't seen the end point of
C1 yet.
*What to do/What is my strategy?*
*
---------------------------------------------------------------------------*-------------------------------
*
C1 offers some buying opportunities. I would be a buyer at these low levels.
I would buy SIP style. However I would certainly keep some cash in hand to
shop at lower levels later.
Elliott's analysis doesn't offer day to day movement of index. I think it is
actually an advantage as some argue that is not.
A down move can take up to a month or two. One must keep these remarks in
mind.
The above advise must be strictly followed with discipline other wise there
are great chances of getting stuck at higher levels. 16415 is still not a
good enough level to buy and this is a clear message from me.
I guess because the range is getting narrower and narrower, trading
opportunites are gone. Up moves can be used to sell and generate cash, as
simple as that.
When we may move up, it provides another and probably final decent
opportunity to sell. One mustn't miss that. This will be clearly seen as a
part of C2. As I said, C4 wouldn't be as great as C2 and C5 would be much
deeper than C1, for sure.
Personally, I would buy and wait for further down falls to invest for a long
time. Investment at or around 14100/14700 would double in 2 years time, as
per my projections.
Technical analysis is not enough to project market movements correctly all
the time hence I also analyse economy. These discussions are within another
thread called Classic battle/Battle Home front. Needless to say that Indian
economy is passing through a rough patch. That coincides perfectly with the
final decline in form of the darkest of all, called C wave.
Any questions, please ask. Healthy criticism is more than welcome.
I wish you all good luck from the bottom of my heart.
Best Regards
Spandan Joshi