8 Dec 13

Last week I expected the index would move within the range, instead index went above the upper line with force and closed a little lower still way beyond the upper line I marked last week. This entire wave from 5118 looks very complex and unpredictable. There is a possibility of another wave count that I have listed in the second chart.

As marked in the above chart, it is quite possible that 'c' and also 'B' is completed last week and we can expect 'C' to follow as I have been expecting since last two weeks.

On the other hand, after 'C' ended at 6332 'D' began and ended at 5972 then now 'E' has began and could progress to make a newer top in the next week. The below chart explains that.

Hope I have marked the present waves correct and in the coming week the index behaves accordingly.

1 Dec 13

Although, the index moved within the range I marked in the last week, it doesn't show a completion status. Maybe, one more week of range-bound movement is expected.

 

The above chart is daily and I have marked my wave count in the perspective. When, I look at the 30-min chart to see how the 'c' has developed. It gives me two views. Please read the following two cases on how I expect the 'c' and 'B' could develop in the coming week.

 CASE 1:

'B' is developing as a 'triangle' (a-b-c-d-e).

If 'c' has ended on last Friday, then expect 'd' & 'e' to follow in the coming week. Here, 'a' & 'b' took 3 days each and 'c' longer time. So, expect 'd' to take the same time as 'a' & 'b'. 'e' could be smallest & sharpest. So, 'B' could probably complete in the coming week.

CASE 2:

 'c' of 'B' is developing to be a terminal.

`

In this case, it is possible that '3' is completed or still competing. And the following '4' & '5' waves would not go beyond the range marked in blue lines.

Let us see how market is going to behave in the coming week.

[All charts are taken from www.google.com/finance  symbol: NIFTY ]

23 November, 13

On the basis of my previous studies, at the end of the week, it looks like the bearish sentiment prevails in the market.

Now, the bearish sentiment is confirmed, but market may want to hold on at this level for the derivatives to expire.

There are two possibilities,

i) 'b' is still in the making. So, possibly 'b' may go further down and then expect a thinner 'c', a pullback.

ii) 'b' has completed and expect 'c' to grow as a wide and consolidation like pattern.

In both alternatives, the following 'C' could be sharper  towards the possible 'Support' Level.

Let us see what is going to unfold in the coming week :)

[chart is taken from google.com/finance]