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    Thursday, November 6, 2008

    mkt the next move...



    yday the upmove got resisted exactly on my resistance line earlier marked on sensex monthly chart previously posted here.

    now on nifty we should watch the fibo ret(2862/2746/2631) of this upmove from 2253-3240. if not held then previous low will be likely to be tested.

    6 comments:

    renu said...

    Hello ab sir,
    one question suppose today we dont fill the gap which will result in island reversal on chart so does this will confirm that we r making c5 or still this could be just correction of up move from 2553-3240.
    Regards

    abhay r somkuwar said...

    C-5 will be confirmed closing below 2631 meet, for now its both options big B and C-4 for us. if big B is correct(which is doubtful) then rally up over recent highs from any of these lvls, if C-4 is correct then nifty will get into a rangebound movement for few days before breaking down.

    regards.

    Ashish said...

    aby baby bro.just suggest me any good book to start elliot wave ???

    Ashish

    abhay r somkuwar said...

    is that gnp?:), for books try Elliott Wave Principle by Robert Prechter & A. J. Frost , or rn elliott's masterworks by prechter, or glenn neely's mastering elliott waves.

    or go through readymade online free rules and guidelines,

    http://www.market-harmonics.com/elliott_wave1.htm

    u may also register with elliott wave international website
    http://www.elliottwave.com

    abhay r somkuwar.

    abhay r somkuwar said...

    detailed rules and guidelines,
    http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500-Articles/EWRules.htm

    Ashish said...

    ya me only aby....who else will dare to call u aby baby....lol

    sorry was ill since 2 days thats why wasnnt able to check...thnc for the inputs!!!!!

    missing u long in sbox....do visit!!!!

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