Wednesday, August 25, 2010

EW count

This probable EW count is for academic interest only.


Intermediate Wave- starts from the upmove of 4786

Minor wave-‘5th’ of the above (shown in daily chart)

Minute wave- ‘iv’ th of the 5th minor (shown in daily chart)

Minutte wave- ‘c’ wave of the ivth Minute of the 5th Minor ( started day before yesterday in 5 wave move down, 4th Subminutte of this completed)


-‘5’ th Subminutte of the ‘c ’ Minutte of the ‘ iv’ th Minute of the ‘5th’ Minor to start.
Can go down below yesterday’s low. This ‘iv’th Minute should not go below 5452 ,as per hard EWrules.

-A positive diversion may develop near the end of this ‘iv’th Minute wave.

-Trendline break of the ‘c’ of  'iv' th down  ,will start the ‘vth’ of the ‘5th’.It can end truncated or go on to make a new high.


-As per Market Profile we know that 5465 area is a high volume zone,providing good support .So the ivth Minute may end near here.

-FII’s have been buying relentlessly ,The vth of the 5th minor may end making a new high sometime in the Sept .series.

-Option analysis of Aug. suggests a expiry above 5500 and below the ivth Minute may end near 5465 and vth minute’s ,subminutte waves can take it to the above zone.


Prabakar said...

Good Morning RV and Mok.

Thanks RV for a nice details.

Sujatha said...

Good morning Aar vee

Hope you are doing your "project" here :)

have a good day.

r m said...

Thanks RV