turned out to be 4th wave formation according to Elliott wave theory.
See first chart the wave started from the big black arrow,Till october panic low thats
7900 we completed 3 waves down .
Then a possible bearish Flat to complete 4th wave.
Come to next chart which shows the expanded 4th wave chart,Which shows (3,3,5)
Bearish flat.4th wave ended at 9700.
From there we are witnessing a possible 5th down.
The next few days movement of Dow should clear the wave structure to some more extent.
Nifty too in 4th wave but we are behind dowjones as dowjones looks to have completed 4th wave
wheras Nifty still in 4th wave.:)
NIFTY ANALYSIS
Regards
Rish
RESEARCH REPORTS
what is the possible target for 5th wawe down
ReplyDeleteI think if 7900 low is broken Dowjones should target 7500-7000.
ReplyDeleteHey Rish....whats your target on Nifty if Dow reaches 7500...Also where do you think this carnage will end.
ReplyDeleteLets react to it rather than predicting too much.
ReplyDeleterish -
ReplyDeletein the first chart, why is it that you are starting the count downwards from the black arrow? there seems to be a top around oct '07, so is there a reason you are not taking that as 5 of the upmove?
Hi Anonymous
ReplyDeleteGood question Actually i showed 3rd main waves sub part as 1234 and 5 now happening .So there much up down still pending the good thing about bear mkt is the rallies are quite fast.Next time do put your name while posting :)
hi sir , i m ajay...do u think nifty will touch low again ?
ReplyDeleteThat thing can happen in 2009.
ReplyDeleteBear mkts have an uncanny ability to surprize Dowjones at 7500 almost 90% expected 6500 but what was witnessed was otherway it rallied from 7500 to 9000 that 1500 points in mere 15 days:)
ReplyDelete