i have attached daily as well as weekly charts from Tony Caldro's report with his wave count.according to him we are on minor wave 4 c. looking at daily chart attached we can see +ve divergence in rsi ( 5 ).
have we completed 4 c and are we on next wave 5 upwards?
price action has to yet to confirm the same.
bearish wave count considers that we have topped out at 21109 and we have made lower top at 20665 and we are on 3rd down ward wave.
let us c what unfolds.
Hello Pankajji,
ReplyDeleteOnce again a good informative post by you.
Has Tony Caldaro changed his count? Previously he was expecting Sensex to go to 34000, if I am not wrong.
Please can you also provide the link to this article? Many Thanks.
Dear Vineetji,
ReplyDeletethanks!
tony caldro is having very bullish wave count.link to this wave count is :
http://caldaro.wordpress.com/2010/12/01/indias-sensex/
read comments also in this link.for his target of 34k he follows this move as minor wave 4 c of third main wave, so either we have completed 3.4.c and we r on 3.5 or still we r on 3.4.c to be followed by wave 4 as correction of upmove from 13220 to end of 3 that is 3.5 and wave 5 which will be super duper.so if time wise if try to time i t we may see budget rally as minor wave 5 of wave 3 and post that we may see wave 4 which will be big wave may be of size of 4 to 5000 points in sensex to be followed by big 5th wave which may start in 3rd or 4th qtr of this year.
u can see his latest chart in this link. and bse chart is on 7th page.
hope this helps.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1606987
Pankaj Shah
caldro has changed his wave count. refer this link.
ReplyDeletehttp://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1606987&cmd=show[s205800679]&disp=O