Q
Retaining my Counts , I would say, C5 is in play as a 5 wave and has today played out:
sw1=5020-5095=75
sw2=5095-5071=24
sw3=5071-5150* and likely to test 1.62*sw1=5192
Thus Ist target would be 5192---
And lets remember, Minimum target for this C is 0.618*A=244+4911=5155
UnQ
Listless day. Continued to complete the pattern which had become clear yesterday. Link to charts:
http://img535.imageshack.us/img535/9939/n2192011.jpg
Thus we have:
sw1=5020-5095=75
sw2=5095-5071=24
sw3=5071-5168=97
sw4=5168-5110=58
sw5=5110-5142*
Now one point to see is where this sw5 is likely to end as sw3 is only 130% of sw1. Although 5170+ levels would make this wave a "good looking" and logical,we may see an extended sw5 and,therefore, 5230 may well be on the cards.
Also, on a higher degree
A=4720-5114=394
B=5114-4911
C=4911---in progress (currently C5 in progress) Min target: 0.618*A=244+4911=5155 is achieved but normal target of C=A=394+4911=5305 can not be totally ruled out at this stage. So till 4911 is taken out on the downside(after the completion of C5),this probability must not be forgotten.
Raghu
dear guruji,
ReplyDeletein ur experience of tracking EW waves, have u noticed that w5 will be extended, if w3 is gr8 than 100% but, less than 138.2% of w1 ??
just asking for GK sake. Also, did u see BNF today ? It was up 1.19% , while Nifty was totally rangebound... normally BNF is the first indicator of a rally, nahi ?
smells of sectoral rotation, kya lag raha hein aapko ? :-)
urs
SMO
Dear Shri,
ReplyDeletegoing by the book,one of the waves in a five wave form has to be extended i.e 1.618*smallest so either the 5th now has to be extended or has to be smaller than 1st( so as to be make the 3rd =1.618*5th -----hhhhhhh---and see how funny it becomes--sw1=75,sw3=95 and sw5,if=60 then would go upto 5110+60=5170 and also sw3=1.618*sw5)---perfect fit,hhhhhhhhhhh.
Now the imp levels to watch,on the downside, are 5095 and 5020. Stockwise I find Infy should not go above 2458(y'day it went upto 2455) and SBI 's upmove (C=A) should take it to 2050,though it has already done C=0.618*A
Raghu