Sunday, November 28, 2010
"Ma" of "Pa Hi Ma" (Elliot's corrective waves ABC) ?
On Friday(26-11-10)Nifty closed at 5752 with a loss of 48 points, in M2(Prati Madhyamam Low: 5464, Centre:5642 & Top: 5797). Off course, there was 100 points up move from 5690 to 5812 due to exceptional Friday effect as anticipated. Nifty spot range was 5690 - 5839 where as Nifty futures range was 5727 - 5867. For other details please refer table above. Agni level for tomorrow is at 5737.
The following are wild thoughts. It may or may not happen. However, writing it as feeling is high due to the planetary positions now(see the chart below)- all planets congregate around angles 0, 90, 180 and 270 angles which linked together will draw a cross(+) which is very damaging to the market and also to the whole world. On the above basis it it felt that market after touching a low of 5642 may move up to 5797 or to 5952 and start to fall fast and may move to 2008 lows. "Pahima" in Sanskrit means "save me".If we consider the Nifty move from 6357 - 2252 as "Pa" (corrective wave A)and 2252 - 6339 as "Hi" (wave B) then "Ma" (wave C)has started downwards from 6339 and it may move down to 2252 or more than that. (If Nifty had crossed 2008 high of 6357 this theory would have been invalidated). In April/May of odd years ( 2005, 2007, 2009 etc) Nifty usually moves to S (Shadjam), and in April/May 2011 either it should move to 3968 or 7936. The chances of 3968 cannot be ruled out. Don't be in panic. It's just a feeling and it may take time. Use your favorite TA tools also to trade profitably.