India`s foremost expert in Elliot Wave Analysis Vivek Patil, Said that Sensex Complete his higher range and its fall blow 14700 in comming month, in fact he said sensex may correct up to 1000 point in comming trading session.
so be allart. to view complet analysis plz visit at icicidirect dot com, i think this technical analise is true, what you think plz suggest?
I do not follow EWT, but one thing is certain. We are overdue for a correction. In all probability, we may not break above 16850 and if 15800-14800 possible in October/November. 14800 will be the 100 DMA in next few days, hence good support likely in 14700-15000 range. If this range is broken, then we may head down to 12250-12500 later on.
Yes, it can be there.
But,
One has to take it as the buy opportinity, for investment and there nothing to worry as by the closing of the next financial year the Sensex is surely to touch 25K level.
Dear Sir
one thing I am also observing that if 5 ema becomes greater than 5 day sma market becomes bullish, and if 5 day ema becomes less than 5 day sma, chances becomes for some bearishness.
Now for 22.09.2009 presuming sensex closing as 16741.30, 5 day EMA will be 16634.04 and 5 day SMA will be 16665.04, means 5 day EMA will become less than 5 day SMA on tuesday
whereas till friday 5 day EMA was greater than 5 day SMA.
hence if this theory works then tuesday should be start of correction day, correction may be small or big that is another matter. Please give your expert comment.
Market is supreme. We propose, market dispose. My reply to dipakgod is reproduced, thats all I have to say.
We are overdue for a correction. In all probability, we may not break above 16850 and if 15800-14800 possible in October/November. 14800 will be the 100 DMA in next few days, hence good support likely in 14700-15000 range. If this range is broken, then we may head down to 12250-12500 later on.
Friday was a down-day, having formed a lower top and lower bottom than the previous day. This also is an indication that we are matured for a correction.
Buying by FII, partly at least, as recorded, may be part of the Reliance deal, I presume.
But under-current is very very strong. I have seen such current only when the market is highly manipulated by set of operators. Sometimes rotational exercise, sometime even chorus exercise on index-based scrips - only interest being to take the index high so as to extract the difference in M-to-M price. Particularly in this period bulls have earned the handsome difference and that is emboldening them. If you observe there is no co-relation between Indian and global markets with the possible exception of US Market which is also behavinv in a similar fashion !!!!
Stock market have become a daily one day cricket match between bulls and bears and so far bears have been outrighly defeated. In other words Tel Dekho Aur Tel Ki Dhar Dekho.Do not jump to conclusion and watch key levels everyday. Blow with the wind and you shall be a winner. Three cheers.
Stock market have become a daily one day cricket match between bulls and bears and so far bears have been outrighly defeated. In other words Tel Dekho Aur Tel Ki Dhar Dekho.Do not jump to conclusion and watch key levels everyday. Blow with the wind and you shall be a winner. Three cheers.
I have became alergic to hear name of elliot wave analysists, due to their repeated failure in pridicting the market. I think no body have been able to earn from elliot waves. If any body have earned, kindly raise their hands by posting their msgs.
I dont know but he is very confident. you know when every anelist in july tell sensex go down than only vivek patil say that sensex first go to 16700 than go down. if you dont belive than go to icicidirect dot com & wathc his wave chart for sensex where he indicat sensex down to 10500. than just wait & watch...
Dear pradesh
you might have seen the resuslts of analysis of two boarders at the MMB, one is HLN, and the other was Chartguru, both of them have remained badly failure about pridicting the market so far.
In other forum ( vfmdirect dot com ) also I have found that one lady khubooagrawal, who was claiming to be a extra orderinary expert in Elliot Wave, had remains also badly failure, you can see her msg dated 22.08.2009 and 30.08.2009
Overall I found that all those who are claiming themselves to be as elliot wave expert are really don`t know A B C D of elliot waves analysis. these are real idiots and duffers.
| NIFTY 
