EW counts on 22nd march

22nd March 2012

some possibilities

Lets see the options we were following

Option 1 gets invalidated according to me at present .

Option 2

We are still in 4th wave and have done A as

W1-- 4531-4800 = 269

W2-- 4800-4588=212 ( .78% of 1)

W3-- 4588-5630= 1042

W4-- Going on

• A--- 5630-5171= 459
• B--- 5171 - 5499= 328
• C going on should do 5 waves to down of which we are done with

C.1 5499-5233=266

C.2 5233-5386=153

C.3 in play will do 5 waves to down ..

i 5386 5329=57

ii 5329-5363=34

iii 5363-5206* 157 points is done already ..clearly it is an extended wave .

iv to up will unfold and as and when it retraces 61.8% it will be good place to go short .

OR Still doing B as a FLAT in 3 waves . In this

Option 3

A--- 5630-5171= 459

B Going on .in 3 waves as a flat...

a 5171-5499 = 328

b 5499 - 5206

Here 90% comes to 5202 ...we have almost done that ...now 'c' up in 5 waves ??

So option 1 suggests that we will soon reverse the direction ,

and Option 2 and 3 suggest more down side .

Lets see how prices unfold

time to sell !

Looking at weakness in prices I feel ,  its time to sell again at 5354
12:50 pm:

11:30 update 22nd march 2012

At 11:30 As we close below hour ema and hour high ema after resisting at cluster resistance zone of 5382-5392 ...This made me come out of longs taken at 5316 .
Now at 12:00 if we close below hour low ema as well ..then that will qualify to take shorts .