Points 1-4 having been observed since long, we have found the Point 5 in the NSE Nifty daily as per
https://www.facebook.com/groups/327808620580800/430637473631247/?notif_t=group_comment_reply#!/note.php?note_id=354859654571984 book.Date | R_No | Open | High | Low | Close | Candle | Fib_No Relation |
7-Mar-12 | 156 | 5207.05 | 5243.85 | 5171.45 | 5220.45 | W | |
14-Mar-12 | 163 | 5490.55 | 5499.40 | 5437.80 | 5463.90 | B | |
29-Mar-12 | 178 | 5145.95 | 5194.30 | 5135.95 | 5178.85 | W | |
3-Apr-12 | 183 | 5353.20 | 5378.75 | 5344.45 | 5358.50 | B | |
3-May-12 | 213 | 5211.20 | 5217.30 | 5180.65 | 5188.40 | B | 57 |
23-May-12 | 233 | 233 |
Remark: In an earlier blog http://lalitlk-lalit-lk.blogspot.in/2012/04/nifty-wolfe-wave-analysis-post-event.html , I had noted that it required 91 (Fibonacci number 89) days to form Points 1 through 5 & further 51 (Fibonacci number 55) days to reach target for EPA.
In the instant case, it has taken 57 (Fibonacci number 55) days to form Points 1 through 5.
I am postulating that NIFTY shall reach the target EPA on or around 23rd May 2012.
Quoting Vinayjee (my guide to ww)
ReplyDelete"Good one. One thing I have noticed is that nifty can go below point 5 and often goes, particularly if it is going to nullify WW by way of timing out or too much of undershoot. Otherwise, entry is always to be taken once nifty crosses above lower TL from below again, say, a 5tf close. then put SL about 5 points below TL. If it doesn't go below TL and then buy after a 5tf bounce from it. But SL remains"