Elliott Wave Theory

[WaveSurfer]

Thanks bro
And what about BankNifty, if trades above 16700 (may be some less/more as per your analysis) then it will be in extended W3

Bank Nifty Daily

I think Bank Nifty should make a new low at 13178.

Bank Nifty hourly

Since , its making an ending diagonal of expanding variety , its tough to give a level on that but what looks like a certainty is it should come down to 15024 in wave 1 and goto 13200 levels to complete the final leg on daily.

 

[WaveSurfer]

SBI Monthly

looks like making a running triangle or a flat.

SBI Weekly

One more leg down is pending in case of a triangle.

 

[amitagg]

My reading for Nifty is as follows and i would like to keep it simple.

Complete correction that we got from High - 9119 SPOT is a complex correction.First correction was FLAT Correction and then we had Zig Zag Correction.Intervening Wave was X Wave.

What makes me feel that these wave counts are correct is because Fib ratios makes be believe that and if i dont use Fib ratio them then there can be multiple wave counts which can be drawn but we wont get confidence.

Now below is Fib projections for complex correction .Refer to below image of Weekly Nifty chart as well.

1) In first Flat correction,Wave C (7997) happens to be exact 100% fib ratio of Wave A.When we get these kinds of harmony,our confidence grows.

2) In second Zig-Zag correction,Wave C was 138.2% fib ratio of Wave A.What makes be more comfort that its Zig-Zag correction is also that when we zoom into Wave A on daily charts,we can clearly spot 5 Internal Waves.Criteria for Zig Zag is that internal waves should be 5-3-5.

3) Flat and Zig-Zag were separated by Wave X and we can clearly see that Wave X had its own 3 three waves.

Now are we done with Complex correction and new Impulsive wave has started or ongoing uptrend is just Wave X and we can get one more Correction is something time will tell.Whatever is the case we will soon get one round of Correction because if its new Impulsive Wave then we will get Wave 2 very soon.I hope this helps.

Agreed. Just watch 2011 decline and interpolate.... Question Is whether this X has completed or goes to 7980 or CAN IT? Go to 8140 also I'm terms of EW possibilities of small X / large X.......

Can we do time analysis also........to project whether 6825 was fitting into time counts since period of rally from 4531/5119 to 9119

So rather than predicting we need a ELLIOTT BASED STOP LOSS level for longs in time frame being considered by you and in shorter timeframes ( is it 7660 or 7582 or 7526) ...... For shorts similarly was it 7760 or 7982 or something else

Can the thread leaders take this up since I have limited knowledge
Thanks

 

[naughtynifty50]

Agreed. Just watch 2011 decline and interpolate.... Question Is whether this X has completed or goes to 7980 or CAN IT? Go to 8140 also I'm terms of EW possibilities of small X / large X.......

Can we do time analysis also........to project whether 6825 was fitting into time counts since period of rally from 4531/5119 to 9119

So rather than predicting we need a ELLIOTT BASED STOP LOSS level for longs in time frame being considered by you and in shorter timeframes ( is it 7660 or 7582 or 7526) ...... For shorts similarly was it 7760 or 7982 or something else

Can the thread leaders take this up since I have limited knowledge
Thanks

Thats it

All are showing just one side of EW analysis. Though every one knows that EW can have recount(s) in the very next moment.

Very well said
"Can the thread leaders take this up since I have limited knowledge"
yeah, really limited knowledge
Bhai, I know what you like. :lol:
I know you like IC, I mean IceCream. Right na !!!!!! :lol:

 

[naughtynifty50]

Read somewhere

" Elliott wave is like smoke...you can see it...you can analyse after the event but you cannot catch it ...."

Yes, it is very difficult to catch an event, correctly, on the basis of technical analysis.

 

[Smart_trade]

Read somewhere

" Elliott wave is like smoke...you can see it...you can analyse after the event but you cannot catch it ...."

Yes, it is very difficult to catch an event, correctly, on the basis of technical analysis.

It was Thomas DeMark who said that Elliott wave is like smoke you can see it but you cannot catch it.

Smart_trade

 

[praveen taneja]

Most of the time we can see everytrader use EW count with pre decided mood can be due to his trade or mind set up some one showing Vth wave to 6500and others showing Vth wave on monthly at 9550 Thats why I love Tukka it tells me what is good and after that No challenge from any counter Not even from TMA head Ashu Gujju:rofl::rofl:
Jai Ram JI KI

 

[naughtynifty50]

Most of the time we can see everytrader use EW count with pre decided mood can be due to his trade or mind set up some one showing Vth wave to 6500and others showing Vth wave on monthly at 9550 Thats why I love Tukka it tells me what is good and after that No challenge from any counter Not even from TMA head Ashu Gujju:rofl::rofl:
Jai Ram JI KI

Thats a speciality of EW

No 2 ellotician will have same counts on a same chart of same timeframe. :lol:

and when counts fail, he will give new counts on the same chart.

 

[wisp]

Thats a speciality of EW

No 2 ellotician will have same counts on a same chart of same timeframe. :lol:

and when counts fail, he will give new counts on the same chart.

but they all sound like magicians.

 

[gopicbin1]

Whether it is Wave X or 1, one thing is clear that odds are favoring shorts at this point, but to be done on confirmation, that is close below your favourite ema / sma