 |
| 10 min EWP |
Nifty is showing multiple possibilities. If the TZZ was over at 5171.60 yesterday, then we are on our way to wave [3], only hitch might be an irregular flat correction in wave [2]. But my money is on the longs and we might already be on our way to wave [3]. The wave labels here are irrelevant, as if this the wave III, the there will be plenty of subdividing to come. There is a low probability possibility of the last leg of this TZZ correction still pending.
Hi Aniruddha,
ReplyDeleteI feel, one of the wave counts - NIFTY or DOW is wrong.
For the last one year DOW is leading the world markets and you are expecting that DOW will start wave C.
At the same time you are expecting NIFTY to commence [3].
My assessment is one of the counts is correct and the other needs to be changed. But, which one? Only time will tell.
Thanks for regular updates.
With Regards,
Well the underlying assumption of your comment is Indian and
DeleteUS should move together, and that might happen. Also the possibility for DOW is one pf the possibility there was a bullish scenario considered for DOW earlier, and it is not yet invalidated. Kindly refer the earlier post here, http://tradeelliottwave.blogspot.in/2012/02/attempt-at-long-term-wave-count-of-dow.html