My last post, stated a condition "This count rests on the condition that the last high that we put in on
Sept 22 at 27,254 stays intact, so this short term condition controls
the longer term outlook." The market has spoken and we did break 27,254 with 5 small waves up and new high now at 28,822 on November 28th. This now in hindsight can be counted as the final 5th wave of the impulse i thought had ended on September 22nd. Any new 5 wave moves above the 28822 high will invalidate the count. The new count is below.
The outlook remains the same: an ABC down to the 21k-22k area and then a final up ABC move into the 30k-35k area to complete a wave V within a contracting triangle (which i shall display when the market is ripe for a major move down).
Side Note: While on holiday in India I stumbled on this FII Net Inflow Chart in one of the local Newspapers. What is interesting to note is that that last highest inflow was in 2010 and 2011 turned out to be an approximate -23% year. With record high Net FII Inflows will 2015 turn out to be another lousy year?? I think so!
The outlook remains the same: an ABC down to the 21k-22k area and then a final up ABC move into the 30k-35k area to complete a wave V within a contracting triangle (which i shall display when the market is ripe for a major move down).
Side Note: While on holiday in India I stumbled on this FII Net Inflow Chart in one of the local Newspapers. What is interesting to note is that that last highest inflow was in 2010 and 2011 turned out to be an approximate -23% year. With record high Net FII Inflows will 2015 turn out to be another lousy year?? I think so!
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