Short Term Trading Member Forum

[techcharter]

Bombay Stock Exchange E-waves

From late 2010 high into late 2011 lows there was a very large triangle or complex correction. My prefered count is "complex correction" because the trendlines do not converge. This leaves one more corrective rally.

The larger corrective rally so far has broken down into 2 of 3 sub waves. From late 2011 low to the February 2012 high is pretty motive. From February 2012 high to April 2012 low is definitely a triangle. This means one more motive rally is to take place. It should be a sharp 10%+ gain. I do not know if the late 2010 high will be eclipsed, which would be an even greater gain.


http://stockcharts.com/h-sc/ui?s=$BSE&p=D&yr=0&mn=10&dy=0&id=p13145169614