NIFTY VIEW FROM TOP – 5 OR 7 N SENSEX CYCLES

The view from the top has a five wave look while the C leg is still overlapping and looks like a 7.  It’s tough to reconcile that C/3 down is over when the overall view looks like a 5-3-7. This is why we continue to maintain that the leg up could still be a corrective with lower resolution incomplete. The only problem in this view is that there is not much place for error now. If this view is correct prices should turn now.
TICKS.INDIA.150709 – 12:25 SENSEX QUARTERLY Primary cycles will only bottom somewhere in 2011-2012 window. A simple reason the JUGLAR cycles are generally 9-12 years. This means that 2009 is too early for the cycle that started in 2002 low to be considered complete.

12:30 SENSEX INTERMEDIATE CYCLES The reason OCT 08 – MAR 09 lows may not be tested or breached is because CYCLE LOWS now are of a smaller degree than the lows witnessed in OCT 08-MAR 09 lows. The best case of a deep retracement from here also should not take us below 11,196. A small observation as a bull caution is the KR (KEY REVERSAL) bar that is still holding at the recent top. As you can see its too soon to call the intermediate correction complete.