i would say i made a perfect ew count. refer nifty ew chart below. today the wave iv made low of 5107.30 down 600 points from recent high of 5708.35. i had projected a downmove of about nearly 700 points earlier.
i assume wave v has now started from 5107.30 with a tgt of 6200. but for confirmation it has to cross and close above 5708.35.
positional shorts should not be initiated at this stage, buy on dips is a better strategy in view of the above wave count observation..
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past short term calls follow-up/performance***(stocks to watch)
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Wednesday, October 17, 2007
latest update on my ew count...
Posted by
abhay r somkuwar
at
5:36 PM
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