ElliottWaveAnalyst - NIFTY

[winstonn]

hi toxic,

unless all time highs are taken out strongly , the slide can continue till 3600 with minor 2nd and 4th wave rallies.

It seems that this corrective wave 4 is flat and leg C has started.

Infy and other IT results could bring 2nd corrective rally and bounce upto 3950 levels.

but other sectors could pull down then the index till 3600.

Then Budget could be the factor for wave 5 for final 5.

ahh!!!!!! that's like astrology!!!!!

but i have combine waves and fundamentals
let's see.

thanxs
winston

 

[v_k_b]

Finally back from vacation and the newsletters have started once again.

Last week was a decent one. We were able to exit some longs near the earlier all time high on 18th Jan. The region around 4150 was told as a turning point and the market had reversed from around 4140. What followed next was a sideways correction which was on expected lines as well.

www.elliottwaveanalyst.com

 

[winstonn]

hi all friends,

we are in 5 of final 5 !!!!!!!

in 5, we might be in sub 4th corrective.

Bull Market pause may be very near to us............may be a year's pause.

thanxs
winston

 

[toxicexpulsion]

what is the max upside of the 5 of final 5?

 

[v_k_b]

The levels depend on which timeframe you are dealing with...These details are too cumbersome to explain here and have been brought out in the Medium Term updates section on my site. Comments welcome.

Vinod Krishna Bhat.
http://www.elliottwaveanalyst.com

 

[swagat86]

Well i believ that vr into the last phase of this bull run. For now im lookin @ 4297 as the end of it. Although iv also enclosed my viewpoints in image.

Go thru the Charts pls .

http://ifs2.imagefly.info/v/bd/png/wave 5 4297 and end.html

http://ifs2.imagefly.info/v/5c/png/Wave 5 On Nifty.html

http://ifs2.imagefly.info/v/ff/png/Trend chnnel.html

Rober Fisher in His book has mentioned two ways to identify the end of Wave 5. One is trend channel and other is Fibs.


Pls take a look.


Comments Welcome

 

[oxusmorouz]

I agree with Swagat's target but my count suggests that is the target for minor wave 3 of intermediate wave 5 of primary wave 5 (3-5-5) and not 5-5-5 (Minor waves could prove significant in wave calculations). We could be seeing slightly higher levels than 4297...approx 4412 (the markets being dynamic can easily under/overshoot this target by a clear 3-5%) before we see a period of consolidation/correction to the primary bull run.
However, taking into conisderation the subjective nature of EWs, one wave count simply cannot be said to be "correct" untill and unless the wave is actually over. All wave counts at this stage are respected and welcome.

Oxy

 

[uasish]

Hi,
There is a suggested method of projection of 5th Wave by Andrew's Pitch Fork ,by positioning between 1st top & 2nd bottom .I have tried that in Get with different stocks/index in past 4yrs,but many a time it fails or overshoot.However why worry where the mkt will go up or down until my Trailing Stop Loss is hit i am in & when out ,will wait until my entry conditions are satisfied.Enjoy the swings let the mkt tell us what the trend is .Preempting mkt's future direction has landed me in loss.Hence if the Trend is up i will jump in the running vehicle ,if otherwise will wait in the sideline.For Get observers didnt Nifty showed end of 5th Wave few weeks back ? Now hasnt it changed its structure again to its earlier one .Better to follow trend.Many a times i lost money in Shorting in Futures becoz Elliot wave says in 5th Down ,4th wave can rise upto max near 1st level but cant surpass it.So now i believe only in momentum & trend & use Get just to confirm my views.Even Mr Patil one of the best analyst of wave theory in our country always has a 2nd view.
Cheers.
Asish

 

[oxusmorouz]

Hello Ashish,
You have pointed out a very good point there. But, very few(negligible lot) follow EWs as a stand along tool for their trading.Any (atleast most) anti-trend systems aren't very successful in the long run. However, using a trend : anti-trend system could eliminate the negetive effect of the anti-trend standalone.