Quote:
Originally Posted by pkapadia
Quoting from Sunday, Business Line, Lokeshwari writes:
"The Sensex has been moving sideways since the March 18 trough at 14677. There are three possible counts for this move. (a) This could be the second minor of the third wave of the correction that began in January. As per this count, the index will witness another steep and vertical fall to 14198 or 12805. (b) The second possibility is that the move since March 18 is a more sustainable corrective pull-back (B Wave) that can take Sensex to 17200 or 17500. (c) The more ambivalent count is that the B wave could result in a move between 14500 and 16500 for a few months.
For the near term, it is best to be ready for sudden moves in either direction."
Hope this helps.
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My question is specific.Iam not interested in possibilities.Ihappen to come across an article where it is stated waveB(correction of correction) is on and at the end of it may retrace to the tune of 61.8% of the fall of Nifty which works out to around 5500.On completion of wave B the next will bewave c which is the final corrective wave which may take nifty to the level 33oo or somewhere around the high which the impulse wave 1 achieved on its completion.The fall will be highly fatal .
