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EWA of NIFTY SPOT |
ktpillai
White Belt
Joined: 23 Nov 2007
Posts: 95
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Post: #1  Posted: Mon Dec 19, 2011 5:12 pm Post subject: EWA of NIFTY SPOT |
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| I am attaching a a daily chart of nifty spot with wave analysis.We can see the third wave is extended ie 2.618 times the distance from the start of wave one to the end of wave one.Also wave 2 is a complex one so wave four is simple one.Goes well with theory of alternation.Now wave five is .618 times the distance from the start of wave one to the end of wave three.Now the A-B-C correction is in progress.My confusion is whether the wave starting from 2242 and ending at 6339 and now undergoing correction belongs to previous cycle so to say when the wave finished at 6339 is it a truncated fifth and the A-B-C correction is on or this wave what we have been monitoring belongs to a new cycle where the bigger waveI is undergoing correction?Members please do a critical examination of the analysis and come out with your views. |
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #2 Posted: Mon Dec 19, 2011 7:38 pm Post subject: Re: EWA of NIFTY SPOT |
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| ktpillai wrote: | | I am attaching a a daily chart of nifty spot with wave analysis.We can see the third wave is extended ie 2.618 times the distance from the start of wave one to the end of wave one.Also wave 2 is a complex one so wave four is simple one.Goes well with theory of alternation.Now wave five is .618 times the distance from the start of wave one to the end of wave three.Now the A-B-C correction is in progress.My confusion is whether the wave starting from 2242 and ending at 6339 and now undergoing correction belongs to previous cycle so to say when the wave finished at 6339 is it a truncated fifth and the A-B-C correction is on or this wave what we have been monitoring belongs to a new cycle where the bigger waveI is undergoing correction?Members please do a critical examination of the analysis and come out with your views. |
Hi,
Can you please tell me how to pick trading opportunities using the chart analysis you posted
another thing instead of using daily chart for so long period analysis can we use weekly nifty spot chart?
regds, |
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aromal
White Belt
Joined: 22 Mar 2010
Posts: 302
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| Post: #3 Posted: Mon Dec 26, 2011 8:38 pm Post subject: Re: EWA of NIFTY SPOT |
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| sherbaaz wrote: | | ktpillai wrote: | | I am attaching a a daily chart of nifty spot with wave analysis.We can see the third wave is extended ie 2.618 times the distance from the start of wave one to the end of wave one.Also wave 2 is a complex one so wave four is simple one.Goes well with theory of alternation.Now wave five is .618 times the distance from the start of wave one to the end of wave three.Now the A-B-C correction is in progress.My confusion is whether the wave starting from 2242 and ending at 6339 and now undergoing correction belongs to previous cycle so to say when the wave finished at 6339 is it a truncated fifth and the A-B-C correction is on or this wave what we have been monitoring belongs to a new cycle where the bigger waveI is undergoing correction?Members please do a critical examination of the analysis and come out with your views. |
Hi,
Can you please tell me how to pick trading opportunities using the chart analysis you posted
another thing instead of using daily chart for so long period analysis can we use weekly nifty spot chart?
regds, |
elliot wave analisis very important in trading ...... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #4 Posted: Mon Dec 26, 2011 9:56 pm Post subject: |
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| Pillai, if you think that ".........belongs to a new cycle where the bigger waveI is undergoing correction?", how low should the nifty NOT go for you to be right? |
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