Wave Counts of Nifty:
Preferred:
Alternate:
World Indices:
Dow Jones: Looks particularly weak and is ready for wave 3 down.
FTSE: Copy cat of Dow Jones
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
3 comments:
Hi dear,
What you found out n wave count is exactly opposite to what they (EWI) guys found! They say it was only a three wave down from Jan 2008 to Oct 2009 for Indian Markets!
Well, for me, its your view that looks correct. Even on fundamental basis, I can't believe that Oct 2009 to be bottom for one reason - If it were bottom, then people should have started hating stocks and stock markets but that didn't happen. In fact, there was still a lot of greed even when nifty was near 2500. This was all FIIs that had nowhere to go but to take their gamble with 'carry trade' currency that was available at almost zero rate on the 'emerging markets' particularly India. And now I am waiting for the trigger - the moment Bernake hints an end to low interest rate regime. I guess that's coming sooner than later. India will remain strong as long as US is not forced to raise interest rates.
One more thing, do not get confused on that '3 wave count' that I said those EWI guys are betting on. What they mean is Indian markets 'corrected' with an abc pattern on LONG TERM scale till Oct 2009 and this is FRESH bull market. I guess they are out of their minds :)
I know.. its very opposite to EWI but, I am still sticking with my conviction. Fundamentally, i donot see things improving in developed economies. Tht is going to put stress on India.
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