Indian Charts: 4th wave

Tuesday, July 5, 2011

4th wave

This looks like the 4th wave correction in progress. The 2nd wave corrected a little more than 50 % . So this 4th wave may correct upto 38.2% , till 5532.

That will be the region of the (iv) of the 3rd wave . Then the 5th wave will be truncated .May be around 5605.

Another chart . The 3rd wave was 423.6% of the 1st .

Thanks.

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Words of WISDOM

"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

---Jesse Livermore

"What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favoured my play. There is the plain fool, who does the wrong thing at all times everywhere, but there is also the Wall Street fool, who thinks he must trade all the time. No man can have adequate reasons for buying or selling stocks daily – or sufficient knowledge to make his play an intelligent play."

--Jesse Livermore

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Tuesday, July 5, 2011

4th wave

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