This is so funny. No offense to Vivek Patil (VP)
First VP predicted a high of 16700. After 16700 was breached he predicted a high of 17500 beyond which he termed it bubble territory. Since he figured bubbles happen only once in 8 years, he was dead sure 17500 was it. Now he comes up with 18900 and after that 22000. I am sure after 22000 he might come with another 30000 prediction soon.
I am sure one day or other his prediction (whether it is 30000 or 22000 or 12000) will eventually come true. But of what use are these wave theories if one is constantly shifting the targets ?
Instead of these theories, I personally feel a simple MA system (13/34 or 20/50 or 13/34/55 or even a 15/75) will work well in protecting an investor from a severe bear market. It should be more than sufficient for most LONG TERM INVESTORS to reap fruits in a bull market and stay in cash on the sidelines during a bear.
Originally Posted by man4urheart
- Look for 17495, If crossed we will see 22000 on sensex in May2010
_ Vivek bhai bahut confused hai, aj kal unka analysis sab gadbad gadbad har hafte!
- I have a feeling NEO wave makes things over complex. Elliot is more easy to comprehend!
I think taking 17500 is a good filter to re enter market!