Explanation
Sensex is now in final 5th wave rally that started last October
Prices are moving exactly in line with our forecast which we presented, for first time, in our blog on 8th September
Our bias is still up for a target of 17500 but with caution!
Hindalco
Hindalco prices stalled after peaking at 139.90 last week
Based on "Time Cycles" we predicted prices to peak sometime last week and it happened!
One can initiate a short position once the mid channel line at 127 is broken
We had an upward bias on Sensex and pattern completion for Hindalco. This is an excellent example that indicates how sometimes the "correlation is broken" and prices follow their independent Elliott paths
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