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Is History repeating?????? |
anupsb
White Belt
Joined: 04 May 2007
Posts: 21
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Post: #1  Posted: Tue Aug 05, 2014 9:08 pm Post subject: Is History repeating?????? |
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Below are the charts of Nifty spot, Nifty in 2014 and Nifty in 2008. If one observes carefully there is a striking similarity between wave patterns of 2008 and and current behavior of Nifty.
These are so similar that wave 1 in 2008 got supported at 20 ema EOD. Wave 3 in 2008 broke 34 day ema EOD and reversed and wave 5 got again supported at 34 ema. Same can be seen in 2014.
As per 01/08/2014 Low wave 5 is completed. So let us see if Nifty makes a new high around 7880 to 7920 to complete a wave 6 and starts a correction which has a potential to test 200 day ema which is currently around 6838.  |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #2 Posted: Tue Aug 05, 2014 9:13 pm Post subject: Same with DJIA |
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Anup: Thanks for the very interesting post.
Brokers in US are circulating charts that compare DJIA today with DJIA just before 1929 mega crash. Eerily similar. I think Apka posted it in IC some months before.
History does repeat itself!
Prakash Holla |
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