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
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
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