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    Wednesday, October 8, 2008

    update on my ew analysis...

    so far no waves counts have been changed in my clear cut analysis.

    C is running fast downward. today C-3-(3) is completed at 3331 with C-3-(3)-v being an extended wave. for today the nifty channel lvl on downside was 3307(see today's nifty and sensex channel post). it is to be noted that today's low 3331 was exact fibo lvl on my charts.

    the C-3-(4) which started up from 3331 has a tgt of 3700 in coming days.

    in my ew analysis nifty has to go further down, after C-3-(4) completes, C-3-(5) will open down, followed by C-4 up and C-5 down where the C wave structure will complete.

    since further downwaves are still to go on, the probable tgts will be given later.

    Posted by abhay r somkuwar at 6:40 PM

    4 comments:

    Sandeep said...

    Hi Abhay..gr8 guidance as usual..i have been trying to mark the waves and have a slight difference of opinion..i feel that we are still within C3-3 which should end on monday as we are in the final leg of its 5th..then a rally till 3700-3800 should complete C3-4 and we should head towards the lower targets of just below 3000..ur comments..if you could share ur email id then i would be glad to forward the chart with my wavecount for ur comments..

    rgds

    Sandeep

    October 10, 2008 at 5:26 PM
    abhay r somkuwar said...

    yes sandeep i marked it too early C-3-(3) not completed as seen from todays downmove. i agree with ur view. will mark only after a white candle on eod.

    regards.
    abhay r somkuwar.

    October 10, 2008 at 6:46 PM
    Sandeep said...

    Hi Abhay

    these things happen..dont they..anyways i am tempted to share the chart with wave counts for ur guidance and comments..honestly i am not very comfortable with markings of this C3-III as it ration analysis between the waves is troubling me a lot..where the structure looks ok the ratios just dont fall in place..would be great if u can share ur id so that i can forward u the chart..thanx Sandeep

    October 11, 2008 at 12:13 AM
    abhay r somkuwar said...

    yes sandeep, send it on my email adress abhay_somkuwar@hotmail.com.

    October 11, 2008 at 7:41 AM

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