Between the count into today and the H&S pattern that leaves a topping range of 17,000-17,200. I expect this to be tough resistance.
Posted on Dec 7th at 2:00pm IST with Sensex approximately @16988
As usual realtime updates in the comments section.
Tuesday, December 6, 2011
BSE Sensex Elliott Wave Short Term Count H&S
As per an alternate count todays move to 17000 could be another short term top. But at the risk of another termination count getting blown out of the water by coordinated central planner illusions, i decided not to post a count. Instead i post something easier to comprehend. An old school Head and Shoulder formation on the daily chart that is in the process of forming a right shoulder. You can revert to the October 31st post for an explanation of the pattern.
Between the count into today and the H&S pattern that leaves a topping range of 17,000-17,200. I expect this to be tough resistance.
Posted on Dec 7th at 2:00pm IST with Sensex approximately @16988
As usual realtime updates in the comments section.
Between the count into today and the H&S pattern that leaves a topping range of 17,000-17,200. I expect this to be tough resistance.
Posted on Dec 7th at 2:00pm IST with Sensex approximately @16988
As usual realtime updates in the comments section.
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