Here i am back too with a new count on nifty .
This count could probably be fine for present scenario,Being an ardent elliot follower
I always keep few options open (different counts) till one fits well in place.
Now here again this present structure which could end up making as ending diagonalthough very early to say.
The other option we have it could be a expanded flat with 3,3,5 in making
with A already done with 3 waves B 3 waves in progress ,Need to watch out for few more days
how this unfolds.
As of now the blue trendline holds good for intraday, longs in nifty safe till that's maintained.
Also Elliott wave learners can see how smaller waves can be seen with in large waves .
Regards
Rish
RESEARCH REPORTS
I am constantly surprised by people's affinity towards market prediction, though almost always proved wrong.
ReplyDeleteGuess,the market didnt really crack low,to soar high, eh? (as quoted in one of the previous posts)
Soham
Hi Soham ,
ReplyDeleteYeah the market did not perform the way it was anticipated that's the first line of the present post and yeah if you read the old post that's for several months and its not even a month :).
Its good to respond on ones performance or worth by seeing archives not by just a post:).
Dear share market is like a pligrimage, onece who goes to temple will come back the processes will continue till the doors of tample does not close after then it will be only one way, and no way to reach at heights of Amarnath.
ReplyDeleteIt also work on the principals of super saturation, so the price envelop and bolinger band does not shows super saturation, Mohan683
:) No disrespects, but trust me you don't want me to go down that line.As they say,"Too many skeletons over there" ;)
ReplyDeleteYou predicted it out for an intermediate term? My bad, but then you mentioned about 4730 as the resistance isnt it, which will be taken care of in a multi-month outlook.
No offence, but prediction is not a precursor to successful trading.
Soham give me some market thought to ponder on this brick bat have had enough in past that's how I refined my knowledge Critics always help in improving give me some substance to discuss :)
ReplyDeleteIf only someone masters the art of prediction, he would stop teaching it. rish and all of us only trying to figure out and theories may fail some times.
ReplyDeleteDear Rish,
ReplyDeleteYour earlier posts analising the fall has helped close followers to reduce the risks.
This time too I have been cautious and never went for averaging or over investments.
I am still waiting for a clean signal in the charts to enter & invest
Diwakar Rao
Rish :)
ReplyDeleteMy comments should not reflect that I am a high priest of Indian markets. So you will not be exactly, talking to an expert. Yet...
Yet what I am trying to point out is,Elliott Wave, is so subjective that you just know you are wrong only after the chart has considerably changed. Which definitely means your P-L readings are way off the whack!
Even if, Elliott Wave really was not this subjective, still it gives no additional advantage. Why? Prediction seldom works.
Think of it, if indeed prediction through EW worked, then why didnt we see more and more market participants adopting it? Do you really believe its so exotic, that few people know about it?
And for one moment, even if I assume, that its indeed exotic, and only few people know it, and its exceptionally advantageous, then will we see a lot more money chasing it(either by hedge funds or managed accounts). And any experienced market participant will tell you, the more the $$$ chasing a particular strategy, the less the profitable the system will be.
I have nothing against, EW.But IMO,its good to theoretize in the middle of the charts not at the edge of it. I had been a practitioner of EW once upon a time. (for disclosure).
Today,I dont use EW at all, no Fib grid, No Gann Fan, none of those fancy looking stuff. And I would like to believe it has not really done me too bad.
By the way,I still read Prechter's work on socioeconomics and his extensive work on historical bubbles.
Soham
Quite lengthy one conclusion you don't believe in Elliott wave theory.A small advice friend in market what works for me may not work for you,Everyone has got his own STYLE,study ,system etc etc so till you have something constructive to discuss good to stay away (Disclosure)I follow wave theory religiously And mind you in market we use permutation and combination to reach to a conclusion nothing is true 100%. That's why stock market is so exciting.
ReplyDeleteSoham Das:
ReplyDeleteWhat is the point you are trying to make? that no one can predict market? If then - that is news to me! Or EW can go wrong? Well that too is news!!! Thank you for your findings.
Regards
Surya Panikkal
"A small advice friend in market what works for me may not work for you..."
ReplyDeleteDoes it work for your trading account?
"That's why stock market is so exciting."
Really?
Well, I always believed, right trading is and should always be boring. Emo has no role here.
"till you have something constructive to discuss good to stay away"
I think, I was fairly constructive in my opinions,backed by sound logic; which you by the way didnt rebut at all :)
Good Luck,
Soham
Heights!!! u can't make money from something which is boring Trading can never be boring a new challenge daily !!
ReplyDeletelogic what logic?
Read other comments you will see what others say about your thinking well i have been writing for 4 years now if it was not productive people would not follow or appreciate me they must be making money or learning.Moreover u need guts to say things in open what i do always.