Fwd: SENSEX AS ON 12.10.09

on friday we closed below 20 dma so i was more biased towards bearish view although trendline was not broken as shown in chart sent earlier.

 

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjv0lDyHkZr2uRU_1nVPeJczyAYVWhjPNnkSqcAY2S7Pn_7_WCmBbVtoIlAbbLqgHVZrT00YHPC7n6uptvBFiV_quiz4CHN1vlpg1ouBXa94epXg79Zzs32XRk2OmwhnQgzrWzX5xzwTeB7/s1600-h/SENSEX+AS+ON+9.10.2009-772220.PNG

with help of good iip nos and ambani bros development as i had mentioned in prev mail 

http://pankaj564.blogspot.com/2009/10/anil-wants-to-end-tussle-with-mukesh.html

 

market bounced back.

 

what next ?

 

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4eXTmACKTW_F5K_JhrIkA_TJvoZ2-vQpFLzyQDLQHLWZTNcZ89QWi68GxSWK3KoAuy2Eb2QurRthhTwVACfnTY9CF1QgDkBMOzWBNRDI0cV4i39e19_d3It4xVDuLp57RfKhxwexE8RxV/s1600-h/SENSEX+WAVE+COUNT+BY+ILANGO+AS+ON+5.10.2009-795428.PNG

 

we are on sub wave (v) as shown in this link which can take us upto 17300/17800.

 

on completeion of this sub wave we can decide further course of action.it has shown 2 options. second option of wave count (more bullish ) is also shown with blue colour.