Thursday, October 8, 2009

Sensex: 5th of 5th rally!


Sensex behaved exactly how we predicted a few days back.
We have completed wave 4 and a small push up in form of minor wave 5th of 5th should start now and end near previous high!

Hindalco reached very close to our first target and formed a low at 116.70 from 126 the very next day of our previous blog.
We were expecting an impulse move down but we did show, in previous chart, the possibility of a 3 wave / a-b-c correction.
There are couple of possible scenarios now - may develop into a complex correction or rally to previous high in form of wave Z.
Lets wait and watch for pattern to become clearer.

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