Indices
Thursday, October 28, 2010
BSE Sensex Daily Charts
BSE Sensex Count -28.10.2010
Sensex Wave-V
Assumption -1 ( Monthly negative close):
Sensex closing for the month september were 20,069.12. We are just one day away from Monthly close & that is also zooming between Positive & negative teritorry like any interesting cricket match in which 2 balls 5 runs to win & one wicket in hand.
Sending my alternate count, assuming we are getting negative monthly close in which case we are presently in wave-iv stage. which has tgt of 19700 ( 23.6% retracement) & 19400 (ABC equality), As wave-II of V ( retrace close to 88-90%, not expecting larger retracement this time in wave-IV & market will start its wave-V from any current bottom which has tgt of 22800..
So pl. be prepared for final wave-V up at any time..
Assumption-2 ( monthly Positive close):
If sensex closing above 20,069.12 tomorrow then wave-v of (III) will begin which has also equality tgt of 22800..& then after we will go for wave -IV correction ( 23.6% retracement) from end of wave-III . & then final wave-V will begin for further higher targets.
My preferred alternate will be assumption-1.. But in both assumption down side looks very limited.
Assumption -1 ( Monthly negative close):
Sensex closing for the month september were 20,069.12. We are just one day away from Monthly close & that is also zooming between Positive & negative teritorry like any interesting cricket match in which 2 balls 5 runs to win & one wicket in hand.
Sending my alternate count, assuming we are getting negative monthly close in which case we are presently in wave-iv stage. which has tgt of 19700 ( 23.6% retracement) & 19400 (ABC equality), As wave-II of V ( retrace close to 88-90%, not expecting larger retracement this time in wave-IV & market will start its wave-V from any current bottom which has tgt of 22800..
So pl. be prepared for final wave-V up at any time..
If sensex closing above 20,069.12 tomorrow then wave-v of (III) will begin which has also equality tgt of 22800..& then after we will go for wave -IV correction ( 23.6% retracement) from end of wave-III . & then final wave-V will begin for further higher targets.
My preferred alternate will be assumption-1.. But in both assumption down side looks very limited.