All Entries in the "India" 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 [...]
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 [...]
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 [...]
Elliott Wave Analysis of some Indian stocks
Now that the Parliamentary elections are over in India, and a decisive mandate has been given to the Congress party and its allies to continue in power, most people expect the stock market to react positively. Let us take a look at three Indian stocks from an Elliot Wave Analysis perspective, and see where they [...]
NSEI has slight upside left
In the big picture, it is too soon to say that we have been freed by the bears. So use the current rally to get out of any longs near 3230. Either from 3230 or from 3275 I expect another wave of selling to take place in the NSEI.