we have retraced from 6142 to today's low of 5871 by 271 points which is 78.6% of last rise from 5798 to 6142 ( 344 points ).this fall has come in apprx 62% time of rise
if we look at 3 legs of fall from 6142 to 5871:
dn 6142 to 5933 : fall of 209 points
up 5933 to 6033 : rise of 100 points - 48% of fall
dn 6033 to 5871 : fall of 162 points - 1.62 times of fall, 78% of first dnmove of 209 points
perfect fibo nos.
as per Vivek Patil's report 0-b line is decisively broken today, sensex low made today is 18826.now second confirmation is faster retracement of rise from 5798 to 6142 is required and i think it may come by breaking 5798 on thursday .
i may be wrong in understanding his analysis.
i do not know neo wave analysis. just trying to understand direction of market movement from his report.
following market by price and volume is far far better and simpler to understand and to act .
Pankaj Shah
if we look at 3 legs of fall from 6142 to 5871:
dn 6142 to 5933 : fall of 209 points
up 5933 to 6033 : rise of 100 points - 48% of fall
dn 6033 to 5871 : fall of 162 points - 1.62 times of fall, 78% of first dnmove of 209 points
perfect fibo nos.
as per Vivek Patil's report 0-b line is decisively broken today, sensex low made today is 18826.now second confirmation is faster retracement of rise from 5798 to 6142 is required and i think it may come by breaking 5798 on thursday .
i may be wrong in understanding his analysis.
i do not know neo wave analysis. just trying to understand direction of market movement from his report.
following market by price and volume is far far better and simpler to understand and to act .
Pankaj Shah
"Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible."
