Nifty and Sensex Wave Count

Sensex and Nifty chart:

This is an entire Sensex count i feel.

I was earlier inclined to think that the rise from 2009 lows till now and the fall from 2008 was a flat ABC structure of wave IV of some degree. However, the longer term sensex chart makes me want to think that things are different. Currently, I think we are in the process of ending Wave V in India.

Based on the charts attached, I think there are two possibilities:
1. We have completed wave V of larger CYCLE / SUPERCYCLE degree (I am bad at assigning cycle degrees); that would be a truncated 5th wave from the bottom in 2009.
2. Other option is, if Friday's and the crucial lows of 5100-5200 zone hold, we might see an upside; which I believe shall be a blow-up top given decaying fundamentals, worse economic situation and backed by phony money called 'QE 3'.

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

India in Self Destruct

India as a country is turning into a beautiful wasteland.

This country is marred by more corruption, than one can ever imagine. The entire system is so corrupt there is no measure to it. Me being in a particular profession; have rather a fair idea abt corruption in Income Tax, Indirect Tax and even other departments. The cops in the country are amazingly corrupt; with even the traffic cops being at the top of the order. The traffic cops will generally stop anyone and ask for some papers like trying to shoot an arrow in the dark; then you do not own a paper; u have to pay fine which they will claim to be stupendous. But, then they will settle for even INR 100 (approx. USD 2.00) for the alleged crime. And the cops in general set a bigger game.

Yesterday, the ruling government took an amazing blow by destroying the Indian Middle Class which is echoed by the INR 5.00 hike in petrol price and further planning hike in Kerosene, Diesel and LPG prices. What is stunning is that these hikes are announced right after the elections. This is absolutely phenomenonal. I mean u win / lose the election and then let the Oil companies in India viz., (BPCL, HPCL and IOC all listed companies) hike the fuel prices. Now, I do sympathize with the companies for selling fuel at a steep discount to the population of the country; however, these companies are reimbursed for their loss by OIL BONDS issued by the government for the under-recoveries.

What I fail to understand that, while the government has nearly inflated the prices of petroleum products by imposing nearly taxes and charges; it is paying the oil companies via bonds. Why do the reverse thing. Ok; this is good measure to get the government finances in right shape, as it is collecting money from the common people and giving bonds to Oil companies.

So, lets i understand that tehre are some INR 30,000 crore (INR 1 crore: 10,000,000) of under-recoveries. Well, now that is still lot less than the recently un-covered scams for e.g. the 2G Telcom license issue scam running in INR 176,000 crore; and the Common Wealth Games scam, Housing Scam etc. etc. etc. and many many many more. I mean the list is endless.

I am lost of words; whatever happens.

Nestle India

Nestle India: Refer notes on the chart:

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students

Nifty Analysis: Oscillators and Elliott

Nifty at key supports: refer the chart
EOD Chart:

30 minute: bit longer term:

Nifty 30 min: close up of the wave structure:

India Vix: for added information:

These studies are based on technical analysis and the author nor the webpage shall be responsible for the profits or losses. The author may or may not have personal holding. We are all students