WHERE WE ARE HEADING ??

Monday : 17-03-2008 ////////////////// WHERE WE ARE HEADING ??

: SENSEX Projection
_________________________________________
Many of the investors are tracking SENSEX and they need projections of Sensex along with Nifty. We had given our views time to time on Nifty. I normally track Nifty in short and medium term. In the broader interest of the viewers, we will try to find where we are heading ???????????????????????? Let me talk two possibilities: A-Till 2007 , we have accepted our bull run as a SUPER LONG TERM BULL MARKET , withing the wave counts starting from 2594 and current ongoing internal of final WAVE-5 being 21206-15228. Till this point, we do not have any confusion.And current ongoing correction is termed as a cyclicle correction within super long term bull market. B-INTERMEDIATE BEAR MARKET: There are laid down norms in Fibonacci retracements. If Each leg has its retracement levels like 0.382, 0.500,0.618
Or say 61.8%, 100%,161.8%,261.8%
--------------------------------------------- Now at this point of time our market is in correcting cycle from WAVE-5 21206-15228 ( Ongoing).. and 0.500 level is placed at 15187 while 0.618 ( max permissible)is placed at 14487. In case sensex falling below 14487, it may be contrued that current cyclical correction has rejected the entire WAVE Count placedunder internal of Wave 5 which started from 8799. In such a case, we shall not have any doubt that we shall have to count retracement level fresh from Wave -12594-21206. Now You shall have to term short term bear market and It may last as per the time frame like retracement from 2594-21206. You can count time frame also
. _____________________________
Now let us have retracement in case Sensex rejects this wave count by falling below14487.........................
A-0.382 retracement level is placed at 14100
B-0.500 retracement level is placed at 11900
C-0.618 retracement level is placed at 9700 approximately.
THOSE WHO ARE INTERESTED IN COUNTING TIME SHALL NOTE TWO DATES A-8799 ( Date :14/06/2006)
B-21206 ( Date :10/01/2008)
_______________________________
let us hope that SENSEX follows current wave count 5... then sensex must give close above 17227 to keep hope of testing previous high at least.