Wavecount Dec 19th Analysis

Today's gap up and then down move proves that option 1 or 2 are in play here. So assessing today's move vide yesterday's analysis:

1) This could be the start of C wave correction. The correction will be choppy and we need to be very careful about the end of the correction because a strong up or down move may start with this correction.
today market came to 6161 i.e. very close to previous low of 6151. If this breached then we will start looking for an end to this correction close to 6050 i.e. another 100 points down expected.

2) downward wave 3 started. the huge spike in volume does suggest it could be a wave 3 down. however, then wave 2 was too small for that. If this is true then expected end of wave 3 =
wave 1*(1 to 1.6) = 329 to 526, therefore the target = 5940 to 5750. This is too steep. So looking somewhere around 6000. Below 6000, might be looking for these targets. 

Wavecount Dec 18th

Today market rose about 75 points. 4 possibilities [sorted on the basis of likelihood]

1. wave b of the corrective wave.

Expected end (6480-6151 = 329*(50%-65%) = 165 to 214 retrace) - 6300 to 6350, so another 60 to 100 points rally expected.

2. wave 2 up of a downward primary move. same levels as above.

3. wave 5 continuing, (unlikely because too many days have passed for the same wave to be continuing) if breaks 6350 then might cross 6480 levels as well.

4. wave 3 starting: likely as that puts the target over 6600 for nifty. Important levels for Nifty future is 6350. If broken, the count will need to be reassessed. 

Weekly charts showing this could be the end of a trend with wave 5 happening last week. 

Monday Dec 16

NIfty continues downward move. Doesnt look like a 2nd wave now. But it has also gone too low for the correction wave.
AO is still in red and hence, no reversal expected. AC is down for 3rd consecutive day now. There could be one last buy opportunity before the crossing the line. But now almost a week has gone since market sliding hence difficult that there will be an upside now.

wave count 13 dec

At this point, Nifty has fallen for last 3 days.
On daily the count looks like:
wave 1: 5973 - 6123 | 150
wave 2: 6123 - 6030 |  93
wave 3: 6030 - 6229 | 199
wave 4: 6229 - 6150 |  79
wave 5: 6150 - 6415 | 265
and now we are in corrective wave a at 6230: so 185 retracement

or this could be wave 2 corrective wave going on now. To validate this Nifty should again cross 6415.

Balance sheet Monthly

August 2013 = +20,000  Ending value 55,000
Septem 2013 =  - 2,000  Ending value 61,500
Octobe 2013 =  -20,000  Ending value 45,000
Novem 2013 = +10,000  Ending value 55,000
10 dec 2013 =   -15,000  Ending value 40,000

December 10th Analysis Nifty

Today Nifty is following the Profitunity trading technique quite exactly.
Yesterday it made a higher wave 5 on daily charts
Investigating within that higher wave 5 by looking at hourly charts, we see that it was wave 3.
Now waiting to cross over 0 for AO before seeing a 5th of 5th wave.
So another higher peak should come within two days with high crossing NS 6415