Elliottwave count for SENSEX
- Thread starter joy_verma
- Start date
Re: Elliottwavecount for SENSEX
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
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
Attachments
Re: Elliottwavecount for SENSEX
Sensex went on to achieve new high as expected and my count and expectation of a new high were correct. So we are now in a new impulse wave
Time wise wave 4 lasted for only 16 days which put some doubt about the
wave count and a possible extension of wave 3. if this alternate is correct sensex may achieve much higher targets than expected.But till times a concrete
evidence of this extension of wave 3 is not at my hand,I will curtail my bullish alternate count and go with my prefferred wave count that suggests the begining of wave 5 at 7656.15 level.
Regards,
joy_verma
Sensex went on to achieve new high as expected and my count and expectation of a new high were correct. So we are now in a new impulse wave
Time wise wave 4 lasted for only 16 days which put some doubt about the
wave count and a possible extension of wave 3. if this alternate is correct sensex may achieve much higher targets than expected.But till times a concrete
evidence of this extension of wave 3 is not at my hand,I will curtail my bullish alternate count and go with my prefferred wave count that suggests the begining of wave 5 at 7656.15 level.
Regards,
joy_verma
Re: Elliottwavecount for SENSEX
hi all
looks like first wave of new impulse has ended at 9000 plus levels . what
we are witnessing is wave ii (circled) of this impulsive move. The resolution of this second wave will give rise to an impulsive wave three with targets which could propel the sensex above 10000 mark in the near months.
regards,
joyverma
hi all
looks like first wave of new impulse has ended at 9000 plus levels . what
we are witnessing is wave ii (circled) of this impulsive move. The resolution of this second wave will give rise to an impulsive wave three with targets which could propel the sensex above 10000 mark in the near months.
regards,
joyverma
Attachments
Re: Elliottwavecount for SENSEX
hai friends many of us do the one simple mistake counting the waves from
middle and not from the start of the begining.
i am attaching the following chart according to it we are in an extended third wave(most probably) or a fifth wave (less probable)
if we are in extended third there are two senarios
1. we are in correcting phase of the third wave (most probable)
2. we are in a fifth wave of the third wave ( less probable )
i feel that the firth wave will of third will extend upto 3000 nifty and a collerting wave will take it down to 2300 and from there on the firth and
final wave may take us upto 3400 or 3300 levels
any improvement in wave counting of mine is welcome i have done this on a larger scale of three years and on monthly charts
and can some one help how to convert .bmp chart to other forms
hai credit violet how are you i have learnt a lot from you right from hard ware of a computer thank you friend
hai friends many of us do the one simple mistake counting the waves from
middle and not from the start of the begining.
i am attaching the following chart according to it we are in an extended third wave(most probably) or a fifth wave (less probable)
if we are in extended third there are two senarios
1. we are in correcting phase of the third wave (most probable)
2. we are in a fifth wave of the third wave ( less probable )
i feel that the firth wave will of third will extend upto 3000 nifty and a collerting wave will take it down to 2300 and from there on the firth and
final wave may take us upto 3400 or 3300 levels
any improvement in wave counting of mine is welcome i have done this on a larger scale of three years and on monthly charts
and can some one help how to convert .bmp chart to other forms
hai credit violet how are you i have learnt a lot from you right from hard ware of a computer thank you friend
Re: Elliottwavecount for SENSEX
hi chennamsetty,
I had a look at your count. It looks pretty bullish. It seems
you are counting the waves from april 03.your wave1 ends in jan 04 wave2
in may 04 and your wave 3 is in progress and in wave 3 nifty is in extended
wave third of third. that is pretty bullish.
My count begins from sept. 01
first wave of my count ended in feb 2002 . my wave2 ended in apr 03, wave3 ended in jan 04 ,wave4 in may04 and presently we are in extended
wave5 in which we have entered probably in wave third of fifth of fifth.
My alternate count shows us in third of third of fifth.
My counting of waves do not stop at sept01 lows neither do I count waves from the middle of advance. I have fairly long wave count at hand which goes back to almost 1945 when RBI share index began.
regards,
joy_verma
hi chennamsetty,
I had a look at your count. It looks pretty bullish. It seems
you are counting the waves from april 03.your wave1 ends in jan 04 wave2
in may 04 and your wave 3 is in progress and in wave 3 nifty is in extended
wave third of third. that is pretty bullish.
My count begins from sept. 01
first wave of my count ended in feb 2002 . my wave2 ended in apr 03, wave3 ended in jan 04 ,wave4 in may04 and presently we are in extended
wave5 in which we have entered probably in wave third of fifth of fifth.
My alternate count shows us in third of third of fifth.
My counting of waves do not stop at sept01 lows neither do I count waves from the middle of advance. I have fairly long wave count at hand which goes back to almost 1945 when RBI share index began.
regards,
joy_verma
Similar threads
-
-
Elliottwave and ellips indicator of advancedget into amibroker or metastock
- Started by rocky01
- Replies: 3
-
Elliottwave and ellips indicator of advanced get into amibroker..
- Started by rocky01
- Replies: 2
-
-