Continuing with my morning post:
Q
Just to recall the Counts:
Y.A=4729-5160=431
Y.B in progress as Y.B(a),Y.B(b) and Y.B(c).
Y.B(a)=5160-5011=149
Y.B(b) in progress as a 3 wave form:And seen on the chart here:
YB(b).sw1=5011-5148
YB(b).sw2= in progress as a 3 wave
5148-5034
5034-5098* may go up to 5117
Down by minimum 71 points but most likely upto 5032
Y.B(b).sw3 to follow upwards by minimum 93 points.
so today's range is likely to be
5117-5032-5125
UnQ
All I can say is--"Jai ho EW kee---
Now,Y.B(b).sw2 is over as a 3 wave form:
5148-5034
5034-5120( a 3 wave form: 5034-5106; 5106-5070;5070-5120)
5120-5038
And now Y.B(b). sw3 upwards has started.
Minimum target=0.618*sw1=0.618*137=85=5123
Normal Target=sw1=137+5038=5175
So it seems even in this round to the up, 5169 would remain unbroken. EOD charts as they appear now are depicted below.
See you all on Monday morning.
Raghu
Guruji tussi great ho!
ReplyDeleteFor no clear reason the market fell from 5100 to 5138 Even when the Europe was trading in Green - finishing as Y.B(b).sw2
Two questions Guruji:
1) I could't understand how you arrived at the targets of 71 and 93 points in your BOD post for oct 21.
2) just curious if 5169 is taken out followed by 5196, does it mean start of bull market or something else?
Raghu ji,
ReplyDeleteWhen Y.B(b). sw3 unfurls it would be 5 wave structure na ?
Dear Sonuji,
ReplyDeleteAns.1: In case of a Corrective,sw3(or C wave) is minimum 0.618*sw1(or A wave).
as sw1=5148-5034=114 its sw3=min. 0.618*114=71
similarly,when sw1=5011-5160=149 its sw3=min 92.
Ans.2:Even if 5169 is taken out,bull run has to wait because on a higher degree the waves have to complete 5 full waves to the down and we are currently in wave 4. From the end of this wave 4 we have to fall by approx.616 points to complete the downwave.
Where this wave 4 ends,to know, keep watching this space.
Yes dear Waquar,
ReplyDeleteY.B(b).sw3 shall be a 5 wave form.
Best of luck.
Raghu
Dear Raghuvanshi ji !
ReplyDeleteyessssssssir !
To save 5196 along with these counts, it is must, must,& must to save 5169 in (this) expected up move !
so bestumbest is for bhakts to be more than satisfied with 5123/5160
HHHHHHHHHHHHHHHHHHHHHHHHHHHH
otherwise if goes up to 5169 then too your one SHISHYA will be forced to do her bestumbest !
hai! na ?
Hi Rahgu ji,
ReplyDeleteAgain, cheers to the excellent wave counts you propose. Just cant enough of it. Am still learning EW, so please excuse my ignorance. I wanted to ask you something as its not yet clear to me.
When we have a double(or triple) zigzag corrective, does it imply that the correction is taking place using these zigzags of the 5 wave impulse or or they part of the ABC corrective wave of one higher degree? e.g. in the case of nifty above, do the double zigzags form part of wave A or are they correcting the 5 wave high themselves and the correction will get over once we reach Y.C (assuming there is no further/triple zigzag correction from there)
Also, how do you label WXY(Z) in this formation? From my wave labeling we are in second zigzag corrective ABC. we have finished B and moving onto C and are currently in the 4th subwave down to the 5th to complete C. I might be wrong in the wave labelling, but how do i map to the WXY variable?
TIA,
Abhay
dear raghuji,
ReplyDeletejust stumlbed on this site and it looks really good . am a beginner with ew so lots to learn frm u.
i am new to this site and have read just ur posts of few days.
i wud recommend one reference post of urs with long term and medium counts that u r following.so we can understand ur micro counts easily and i guess it wud save time too as ur readers will have less mundane questions. just a thought so recommended u.
i have one question if u can kindly guide.
what is the probablity that , y.b is developing as equilateral triangle which ended on friday 21/10.
Dear Abhaydeep,
ReplyDeleteJust go through my post :"Nifty EOD 17.10.2011,WXY not over yet" It should clarify your queries related to labeling details of current WXY.
Each of these WXY ia a 3 wave ABC.
i.e. W4 upwards started on 26/8/2011 from 4720 to retrace W3=5740-4720.
First ABC wherein
A=4720-5169
B=5169-4759( did 5169-4911-5168)
C=4759-5034(ended at 5026) comprised W;
Similarly
X as ABC went from 5026-4729
Y as ABC is currently in play.
Y.A = 4729-5160
Y.B=5160 downwards is in play and has done
Y.B(a)=5160-5011
Y.B(b) as a 3 wave in play where
5011-5148
5148-5034(5148-5034-5120-5038)
5038 upwards in play till yesterday likely to test 5125(min)/5175.
Y.B(c) to come down again and likely to go below 5011.
For further details on Combos you can visit the Elliotwave.com site the link to which has been provided on the blog and go through the free book available.
Raghu
Dear Piyush,
ReplyDeleteFirst of all let me take up your query:
Triangles as understood in EW are mainly 3 types:
Contracting,Expanding and Barrier Triangles and comprise of 5 waves termed ABCDE and each of these sub-deviding into a zig-zag or zig-zag combo.
Being a still more complicated form than the current WXY,all I can say is that if the current sideways move decides to do a triangle then we may find this sideways move continuing for more than November series also--
Now to our counts.
We are counting the downmove from previous Diwali(6339 downwards) as a simple ABC whwerein:
A=6339-5177
B=5177-5944
C=5944-- downwards playing out currently as a 5 wave form --W1,W2,W3,W4,W5
W1=5944-5328
W2=5328-5740
W3=5740-4720
W4=4720- upwards continuing as WXY being counted currently.
And to understand this WXY go through my post of 17.10.2011.
Raghu
thanx raghuji
ReplyDelete