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The shorterm and medium term count gets wrong if long term is wrong.What i use is of no importance here.
There was a deviation,which to my best of knowledge i pointed out.You can use that info to identify correct count.

Care to note that wave 3 is never shortest(which was the case in magnet's count,and however illogical it seems that means an extension to 4700,correct back to 4350 and fly to 5000 :cool:)Back to 4470 again and rush to 5300.Gee almost charted nifty's course didnt I.:cool:

Life and unfortunately wave principle are not so easy.

Market does what it has to do,and we as traders have to accept,and hence hedging and safety measures come into play.But market does provide some clues as to what it wants to do.You cannot go short or long just on assumptions,there has to be method and management.The wave principle does provide that.Anyone who knew of such count wud be sitting on huge profits.
 
Week in review.

Lots of news flow,lots of volatility,lots of this and that.I gave a small note on friday that the low of friday at 4239 is going to be important.On wave count front still a few alternatives remain,so i am choosing a wave 3 extension for the time being.The levels that will invalidate this count are 4403-4430-4480.Markets must achieve 4530 in 3 days or less to negate this count.Thats a good 200 points away.Shortterm momentum is quite oversold hence its an oversold rally,which can get upto 4355-4390-4400-4424.

Next 2-3 days are going to be ultra important.

Downside levels are as before 4285(very important)-4311-4331.

For now letting the market decide its future course.
Well said.....

All the best!

Saint
 
A relatively less volatile day.Important day coming up tomorrow as per my analysis.Upside resistances remain as b4 4385-4403-4419-4430,supports at 4355-4339-4327-4285(both important). Still Index has held my three day rule.So intermediate trend is still up.

Lets see how it pans out.
 
A relatively less volatile day.Important day coming up tomorrow as per my analysis.Upside resistances remain as b4 4385-4403-4419-4430,supports at 4355-4339-4327-4285(both important). Still Index has held my three day rule.So intermediate trend is still up.

Lets see how it pans out.
At what level would you say that this intermediate uptrend is over?

Thanks in advance,
Shashank
 
A nasty day on Global cues.

So we hit a low point and closed low.On EOD charts its more and more looking like an impulse on extension.Resistance is now at 4220-4265-4304.
In these days of gapdowns its irrelevant to mention extreme shortterm supports nevertheless they are at 4150-4100.Its an important day coming up tomorrow again for the intermediate uptrend.
 
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