Happened: Sensex touched 17493 on 17/10/2009 and turned for a fall till 15500
On 8th of September 2009, we mentioned a heading "Bearish Implications VOID!" for first time when we turned bullish on Sensex and gave a probable path with a target of 17500! We actually mentioned on our blog "As per this count we have target for Sensex of 17500. Lets wait and watch!"
Happened: On 17th October 2009 Sensex actually made a high of 17493 and started a steep fall till 15330. Sensex missed the target I gave by 0.04%. Yes this is true. I was also shocked to see this when I was searching for my blog on Title "Bearish Implications VOID". This only proves that Humans are controlled by their subconscious mind and follow a natural rhythmic progression based on Fibonacci relationships.
Today again we are giving the same title "Bearish Implications VOID" as today's move is similar to one prior to 8th September 09. A recent fall or rather drift lower took a week but a rally covered almost entire week's fall in a day. So this forces me to adopt an alternate count.
I am expecting Sensex to reach a minimum target of 18750 and in a form of an ENDING DIAGONAL! (yes a 3 wave structure). Lets wait and watch!
ICICI Bank: Is this a start of new up trend??
Today's move was strong and indicates the down move was only a 3 wave structure and not 5 as we were expecting. Please cover all your short positions now! Next few days of price action will tell if this is indeed a start of a new trend up in form of final wave.
Today's move was strong and indicates the down move was only a 3 wave structure and not 5 as we were expecting. Please cover all your short positions now! Next few days of price action will tell if this is indeed a start of a new trend up in form of final wave.
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