Q
W4 in progress as a three wave form- ABC-of which
A=4720-5110=390
B=5110-4945=165(42%)
C=4945 upwards in play minimum target is 0.618*390=5186 and optimum target is=5325
This C would fan out as a 5 wave form.
So from now on, till the abovementioned target is achieved,LONG IS THE WAY TO START A TRADE.
UnQ
As expected,Nifty continued its upward trajectory and tested 5155.Now we must have a look at the fractals that the C under play has chalked out so far:
And after deliberating a lot and considering various options, believe that the Count below is the most plausible:
(i)=4945-5039=94
4945-4966=21
4966-4952=14
4952-5000=48
5000-4977=23
4977-5039=62
(ii)=5039-5017=22
(iii)=5017-5155=138
5017-5067=50
5067-5052=15
5052-5141=89
5141-5120=21
5120-5155=35
(iv)=5155-5116* in play and most likely to retrace 61.8% of (iii) that is go down to 5070
And then a trip above as (v) to test 5185
This is how I perceive the current C of the retracement from 4720 upwards. This C can be seen in Charts as per link below:
http://img854.imageshack.us/img854/8454/nifty792011.jpg
Raghu
Raghu Sir
ReplyDeleteOne question though to this optimum target.. of 5325.. can this wave 5 do more then that? i mean can it have an extesnion to do 5400+ or something..
Cheers!!!
Guruji
ReplyDeleteCharan Vandana
We have had a grinding B-wave and hence this 4th wave fractal may just do a shallow retracement something between 23.8% of 3rd fractal.
Well 23.8% already done by going below 5122; a bounceback is imminent from 5070-5090 levels unless there are some moves otherwise.
Dear Sachin,
ReplyDeleteIn these counts we are taking W1=5944-5329 and currently we are in W4 which cannot go into W1 territory.So any move above 5329 will invalidate these counts.
Raghu