Thursday, August 6, 2009

Wait and Watch!

Alternate Count

Today's fall was very steep, Sensex fall more than 400 points from its high in less than 15 mins
This can be wave (ii) of (3) but the fall look more impulsive than corrective
Important level to observe is 15,000. If Sensex breaks this level it will negate our preferred positive view and will point towards major downward correction
This can be the correction of entire up wave that started in March
15000 level is only 500 points away from current levels and Mr. Market will convey us its direction very soon

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