Sunday, October 17, 2010

EW Count

The preferable count that I have been following has the 5th wave ended at approx. 1.618 times the 1st wave at 6225 levels.

Now we are in corrective A-B-C,of which 'A' has ended or will end soon.

Soon the sucker wave 'B' will start upside and what better time with all the positivity (rising global markets,good earning season numbers,all time high expected,strong inflow of FII money etc etc ) and festivity around  to trap retailers for a 'C' down.

The TA also seems to be in corelation with this prefered count as of now,(bounce up in short term and sell in medium term indicators with positional selling at the tops,support and resistance levels etc.) pl. check-

Just taking a shot at the probable course for the correction.Take it in the stride and trade with proper cautions.

Remember we trade in probabilities and not certainities.


mo k said...

hi RV,
Now the waves are getting larger.
Nice post. Good to see an idea on Nov projection. Have a good positional.

manu said...

i think now "A" over at 5985:)

mo k said...

Yes RV, manu,
the A is caught by RV well.

so, a B up, looks like.