elliott wave chart and market view.

nifty ew tentative wave counts chart.

we already discussed the previous low being significant pricewise (C=1.618xA) and timewise(time equal to A leg). so nifty may well have made the low or will make in coming days if above ew chart is correct. with other techniques like lowest p/e etc it was proved beyond doubt about the correctness of the tgt.

if last leg of C i.e C-5 is pending, that can terminate near the previous low, then every big dip from hereon gives a great buying opportunity to investors to pick their favourite stocks(like bluechips ril,sbin,lt etc) at very attractive p/e, p/b valuations in this month.

even if all the downwaves of big wave A are over by any chance and big wave B started as some friends are suggesting, even then the mkt remains buy on dips, and since bear mkts last longer than 2-3 years it makes sense to either sell the averaged holdings near completion of big upmove B in first half of next year or hold with a long term term view.