LARSEN AS ON 4.03.2013

comments on chart

*****************************

update as on 8.03.2013

larsen on fire........

book profits

ALTERNATIVE BULLISH WAVE COUNT

as per ellioticians a top is made at 20204 ( 6112 for nifty ).

tried to make an alternative wave count which is bullish.

this is not a recommendation to buy. it is more probable that we might have topped at 20204.

let us c , how market behaves.......

****************************************************************************

update as on 8.03.2013

today's high made so far is at 19582......so far we have retraced by 57 % of total fall.more over we are now in gap made betn 19555 & 19620..61.8% retracement level is at 19652.

so now we are at trend decider area. normally pull backs do not move beyond 61.8% lvl mostly.so if we are in bearish mode we might have made top at 19582 or we may make it soon and reverse down wards.

on decisive move above 19742, lower top made after 20204 bullish option will be more probable......

interesting area....