carao
17-03-2008, 07:20 AM
Many of the investors are tracking SENSEX and they need projections of Sensex along with Nifty. We had given our views time to time on Nifty. I normally track Nifty in short and medium term. In the broader interest of the viewers, we will try to find where we are heading ???????????? ????????? ??? Let me talk two possibilities: A-Till 2007 , we have accepted our bull run as a SUPER LONG TERM BULL MARKET , withing the wave counts starting from 2594 and current ongoing internal of final WAVE-5 being 21206-15228. Till this point, we do not have any confusion.And current ongoing correction is termed as a cyclicle correction within super long term bull market. B-INTERMEDIATE BEAR MARKET: There are laid down norms in Fibonacci retracements. If Each leg has its retracement levels like 0.382, 0.500,0.618
Or say 61.8%, 100%,161.8%, 261.8%
------------ --------- --------- --------- ------ Now at this point of time our market is in correcting cycle from WAVE-5 21206-15228 ( Ongoing).. and 0.500 level is placed at 15187 while 0.618 ( max permissible) is placed at 14487. In case sensex falling below 14487, it may be contrued that current cyclical correction has rejected the entire WAVE Count placedunder internal of Wave 5 which started from 8799. In such a case, we shall not have any doubt that we shall have to count retracement level fresh from Wave -12594-21206. Now You shall have to term short term bear market and It may last as per the time frame like retracement from 2594-21206. You can count time frame also
Now let us have retracement in case Sensex rejects this wave count by falling below14487.. ......... ......... .....
A-0.382 retracement level is placed at 14100
B-0.500 retracement level is placed at 11900
C-0.618 retracement level is placed at 9700 approximately.
THOSE WHO ARE INTERESTED IN COUNTING TIME SHALL NOTE TWO DATES A-8799 ( Date :14/06/2006)
B-21206 ( Date :10/01/2008)
let us hope that SENSEX follows current wave count 5... then sensex must give close above 17227 to keep hope of testing previous high at least.
Or say 61.8%, 100%,161.8%, 261.8%
------------ --------- --------- --------- ------ Now at this point of time our market is in correcting cycle from WAVE-5 21206-15228 ( Ongoing).. and 0.500 level is placed at 15187 while 0.618 ( max permissible) is placed at 14487. In case sensex falling below 14487, it may be contrued that current cyclical correction has rejected the entire WAVE Count placedunder internal of Wave 5 which started from 8799. In such a case, we shall not have any doubt that we shall have to count retracement level fresh from Wave -12594-21206. Now You shall have to term short term bear market and It may last as per the time frame like retracement from 2594-21206. You can count time frame also
Now let us have retracement in case Sensex rejects this wave count by falling below14487.. ......... ......... .....
A-0.382 retracement level is placed at 14100
B-0.500 retracement level is placed at 11900
C-0.618 retracement level is placed at 9700 approximately.
THOSE WHO ARE INTERESTED IN COUNTING TIME SHALL NOTE TWO DATES A-8799 ( Date :14/06/2006)
B-21206 ( Date :10/01/2008)
let us hope that SENSEX follows current wave count 5... then sensex must give close above 17227 to keep hope of testing previous high at least.