The above chart shows Long term Elliot wave count for Sensex for past 30 years.The following are the wave counts:
Within cycle wave 1(1980-1992),primary wave 2 retraced 38.2% of primary wave 1 and primary wave 4 retraced 61.8% of primary wave 3.
Cycle wave 2(1992-2001) formed a FLAT and retraced 23.6% of cycle wave 1.Within cycle wave 2,wave B is 1.618 times wave A and wave C = Wave A.
Within primary wave 3 of cycle degree wave 3(2001-till date),intermediate wave 2 retraced 61.8% of intermediate wave 1, intermediate wave 4 retraced 38.2% of intermediate wave 3, intermediate wave 3 is 1.618 times of intermediate wave 1 and intermediate wave 5 is 0.618 times of intermediate wave 3
2008 peak was 4.25 times of cycle wave 1.
{ 11 comments… read them below or add one }
Thanks! the count just looks perfect!
Thanks for the chart. Please suggest a book to learn elliott waves for the absolute beginner.
Read this:
http://www.elliottwave.com/books/ewp/default.aspx?code=ocomi
thanks I have seen very good reviews of the book. Also it is good to see your count matching same with Ashish’s: http://blog.thetradersforum.net/weekly-sensex-chart-and-time-relation
Valuable info. Lucky me I found your site by accident, I bookmarked it.
Keep posting stuff like this i really like it
Awesome post, and the recent one too!
Excellent count, Please update it.
Nifty has crossed 6000, now what is ur new count?
this is good, but we need updates on the wave count
i cant add your rss feed to my reader?is your blog not supported in google rss reader?