Thread: Elliot Wave Principle

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.

Paresh

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.

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 .

Date 08/05/08 time 12.52 pm

Hi All,
in all these years of being a student of the market mechanics, if anything has left me confused it is Elliot. I wonder how he man must have developed such a intricate understanding of the markets. Believe me, i mean no harm to anybody, but out of 100 people i meet who talk using elliot, not one full bodied man has truly understood elliot, ( i include myself in those 100 men). So now u know how seriously u should take answers from them, or should i say us.

Hi All

I am a new entrant interested in both technical and fundamental analysis of market. Give me some time and i will actively participate in the discussions

Thanks and regards to all

when i talk to elliot wave proponents everytime i see that their wave count changes. I feel bad. I dont know who they r trying to influence. My honest opinion is that trading requires u to not be worried so much about elliot. If u r a fund manager who has a very long term view ( 1 year ) then studying it in detail is the key. But if u r somebody who is interested in making Rs 10000 monthly by trading in the markets going by any elliot count can prove totally devastating for ur financial mental and physiological health.
Mind u i mean no harm to all those who actively profess their knowledge of elliot. A simple but open question to them all. Elliot was clear in terms of time and price, can someone point out to me here what month we will bottom out of this bear market. If anyone of u takes up this question. He should know that Elliot could come within 15 days of the bottom. So i too give u 15 days here and fifteen days there. Give ur answer here and we shall lck it to be monitored.

Date 10/28/08 time 9.07 pm

Hi All,
the last time i wrote here i had asked a question of what will be the bottom, i see that no one has taken me on it.
Guys out there i too am a student of technicals and a aredent one at that, but then the question that i have asked requires a thorough understanding of the fundamentals of the elliot wave which as i have aftensaid here and everyplace i write is known only to few and unfortunately they do not visit such sites as these. I mean no harm to u admin, its in the nature of things.
I too have done my calculation, no not on elliot but on what i think will happena and am putting it down to pen so that one may test my analytical skills too. I think the bottom will be formed in the month of May Jun 09.