All Entries in the "Asian Indices" Category
Elliott Wave Analysis of India’s Sensex
Sometimes a wave count will remain valid for a long time. This is the case with India’s Sensex. I had posted my wave count back on 4th January 2010. At that time, I suggested that we will see the development of a 5th wave that could take us to 18550. The high so far has [...]
Elliott Wave Analysis of Shanghai Composite Index 30June2010
Exactly a month ago, Bloomberg Businessweek reported that Elliott Wave International Inc was suggesting that the ‘correction’ in Chinese stocks may be nearing its end. I had immediately published my own analysis, suggesting the index will go lower by atleast 10% (to around 2360). Today’s low was 2382. But wait. Today, Businessweek has published yet another story. The lead line [...]
Elliott Wave Analysis of Shanghai Composite Index
When I saw a report in Bloomberg Businessweek that Elliott Wave International Inc was suggesting that the ‘correction’ in Chinese stocks may be nearing its end, I decided to look up that chart myself. We all know that wave analysis is not an exact science, and there are many different ways to approach the subject. [...]
Elliott Wave update on Kuwait Index 6 May 2010
On 8th March I had privately circulated an Elliott Wave update on Kuwait index. This is produced here just to demonstrate how one has to change his tune when the market shows it has a different mindset. Today, 6th May, the index has straddled an important prior top which I had labeled as wave 1. [...]
Elliott Wave update on Dubai index 6 May 2010
It has been a while since I looked at the Dubai index. From an Elliott Wave perspective, I suspect that we are continuing in a 4th wave bearish pattern that will eventually break down for a final leg. We have to be patient and enter the market only when a valid signal is seen. Click [...]
ELliott Wave Analysis of Dubai Index 18 Jan 2010
Following an extended 3rd wave sell off, the index had recovered by 50% of that decline. However, I feel that this recovery was only part of a complex 4th wave. SO be patient while this 4th wave unfolds over an extended period of time. We will get the 5th wave much later, at which time [...]
India’s Sensex Update 4 Jan 2010
Two consecutive closes above the prior significant high means we should re-evaluate the wave counts and this has been done on the chart. The main suspect until this time is what I have labelled a 5th wave of the third wave. That looks like a 3-wave movement withthe 3rd leg measuring the same as the [...]
Elliott Wave Analysis of Dubai and Kuwait Stock Index
Here are the charts of Dubai Financial Market Index as well as Kuwait Stock Market Index. I prepared the analysis of Dubai Markets before the news as you can see from the date on top. Both charts are posted here just to illustrate the usefulness of elliott wave analysis of stock markets even if one [...]
Sterling, India’s Sensex and Australian Dollar Outlook plus holiday notice
Hello, I am going to be away for a month on holidays. So will catch up with you when I return. In the meantime, here are two quick updates that you might find interesting. One is on GBP/USD and the other on AUD/USD. As for India’s Sensex, I think we have seen a near term [...]
India’s Sensex: Technical Analysis
No change in the technical outlook forthe Sensex. Wavetimes anticpates a turn in the 16045-16115 window.
Sensex outlook
Repeated tests of a support line makes that level important in the big picture. So far, the Indian benchmark Sensex has managed to hold above the support line shown in the chart. However, if we get a break of that, then technical selling will take the index down to just below 13,900. So watch out [...]
India dreams on while China wakes up
Sure, India now has a stable government in place. But listen up, folks. Are we not getting ahead a bit too soon too far? After all, the news from the weather man has been anything but exciting, with a failed monsson. Add to that the swine flu problem, not to mention the quarrel between the [...]
India’s Sensex: Elliott Wave update
About six weeks back, wavetimes anticpated that India’s Sensex index will dip to the low 13,000 and then rally again. This has materialized. (If you would like to refer back, please navigate from the top menu under Equities/Indices/Asian Indices/India). How far can the fifth wave go? The earliest target comes between 16045 and 16115. A [...]
India’s Sensex: Elliott Wave Analysis
Is there one right way to count the waves? I can say this for sure. Until a move is over, there is certainly more than one way to count. Sometimes, even after a move is over, one has to decide where exactly the move finished. Take the case of India’s Sensex. Many Elliott wave analysts would say [...]
India’s Sensex readies for correction
The Indian stock markets have been in a tizzy following a resounding victory by the Congress party. The Sensex gapped higher from 12219 a day before to open at 13479 the day after the election results. Today, the markets reached a high of 15045, up 23% after the election results. The 10-minute chart shows three [...]