SENSEX-C of Flat A-B-C or Contracting Triangle over?

SENSEX-C of Flat A-B-C or Contracting Triangle over?

i have updated 4 different possibilities of sensex wave formation on 11 November 2012

first was FLAT a-b-c

second was contracting triangle

3rd and 4th diametric and bowtie diametric

This is the link to read http://www.zerodelta.in/4-different-possibilities-on-elliott-waves/

if market cross all time high which is 21210 then i am seeing long term bull market and in that post i have updated sensex target 39000 and now it may even go higher towards 50000

if market not able to cross all time high then bowties diametric is still valid and sensex will fall to 15000.

i always write We all must move along the simple idea that all forecasts are an imagination of the future disciplined by observations of the past and as new evidences presents itself on the table be humble to adjust our anticipations accordingly.

if market crosses all time high then i expect USD INR 5th wave will be terminal and we may have long bull market for INR towards 53-48 levels.

I don't know whether you and I should expect such low levels but the Elliott Wave Principle suggests it and till the market proves it wrong it might be better to be prepared for the above scenario till a better one is clearly emerging.

This is only for education and information Purpose; please consult your financial adviser before trading or investing in stock market.

Thanks And Regards

Nishesh Jani.

Professional Trader & Investor.

www.zerodelta.in