Elliot Wave Principle

can anybody answer the following question?1)Have we completed the 1,3,5,impulse waves?2)Was there any Wave5 failure?3)Have we completed wave A(correction)?4)Are we now in Wave B(correction of correction)?5)If we are in Wave B What will be the retracement level and what time duration is required to complete the Wave B

Quoting from Sunday, Business Line, Lokeshwari writes:

"The Sensex has been moving sideways since the March 18 trough at 14677. There are three possible counts for this move. (a) This could be the second minor of the third wave of the correction that began in January. As per this count, the index will witness another steep and vertical fall to 14198 or 12805. (b) The second possibility is that the move since March 18 is a more sustainable corrective pull-back (B Wave) that can take Sensex to 17200 or 17500. (c) The more ambivalent count is that the B wave could result in a move between 14500 and 16500 for a few months.

For the near term, it is best to be ready for sudden moves in either direction."

Hope this helps.

Paresh

My question is specific.Iam not interested in possibilities.Ihappen to come across an article where it is stated waveB(correction of correction) is on and at the end of it may retrace to the tune of 61.8% of the fall of Nifty which works out to around 5500.On completion of wave B the next will bewave c which is the final corrective wave which may take nifty to the level 33oo or somewhere around the high which the impulse wave 1 achieved on its completion.The fall will be highly fatal .

Date 08/05/08 time 12.52 pm

Hi All,
in all these years of being a student of the market mechanics, if anything has left me confused it is Elliot. I wonder how he man must have developed such a intricate understanding of the markets. Believe me, i mean no harm to anybody, but out of 100 people i meet who talk using elliot, not one full bodied man has truly understood elliot, ( i include myself in those 100 men). So now u know how seriously u should take answers from them, or should i say us.

__________________
sinn fien

Neeraj B


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