MUST KEEP IN VIEW, VIEW FOR BEARS
In our mutual friends now a days it is a preferred assumption that, just after these present grinding moves, Nifty will go for a deep dive say for 600-700 points. (If not sub 4000, though some of us are of this opinion firmly)
Before putting any Big money on stake in the stock market, depending on Elliot wave analysis (or any other analysis), we must be very cautious.
As far as the waves are concerned, it has been always difficult if not impossible to label them exactly as per rules of EW. So many times, because of our failure to understand them exactly, we are forced to accept them as they are; even they are not satisfying the guidelines/ rules (some time).
Being inspired by above facts, I here by put an ALTERNATE COUNT of waves, which must be kept in mind as a precautionary measure.
To accept or to keep in mind these counts, we have to accept that at 4720 the down ward correction as wave C from 5944 has been over. & the action thereafter is an upward action.
COUNTS:
DOWN ward ^C^ ended at 4720 (There are some apparent short comings to accept it)
SW-1: 4720-5169=449
SW2: 5169- continued
SW-2: W: 5169-4758=411
A: 5169-4911=258
B: 4911-5168=257
C: 5168-4758=410
SW-2: X: 4758-5034=276
SW-2: Y: 5034- continued
A: 5034-4728=306
B: 4728-5160(close at 5118) =432(390) (141%/128%) (I saw this
C: 5160-
Thus for eliminating the possibility as per above counts, we have to at least wait to breach 4720 to lower side.
With sweet love ! To all dear friends & visitors at Dear harshal ji’s blog
Weavologic !
rcg
Harhal ji now whats ur gut feeling ?Will it go up or dn ?Regds.
ReplyDeletehi ani till the time we r below 5120 we should be headed down that will further be confirmed below 5000...above 5120 chances are that bears may be trapped till 5400 subjected to crossing of 5235...good luck
ReplyDelete