Alternate count points to A as wave 1 of C, wave B as wave 2 of C and wave C as 3 of C. Either ways market is heading to make a new lower bottom for 2008. Bearish engulfing pattern on weekly chart at completion of Wave B on chart confirms the markets intention to go lower.May 12, 2008
SENSEX Weekly Chart 11th May 2008
Alternate count points to A as wave 1 of C, wave B as wave 2 of C and wave C as 3 of C. Either ways market is heading to make a new lower bottom for 2008. Bearish engulfing pattern on weekly chart at completion of Wave B on chart confirms the markets intention to go lower.
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