In our last post , it was stated following
However the LIKELY forthcoming scenerio is that the markets will first fall to 14000-14400 range.
The markets did exactly that and came down to 14350 . The markets have rebounded from there.
We have consistently maintained that until proven otherwise this market at present must be navigated carefully and profits realized whenever possible. The present rebound from the 14350 range should be seen as a pullback rather than the resumption of the bull run.
Right now in all probability the markets , as shown in the graph below will remain in the range of 14900-14500. (However 15000 level cannot be discounted too)Then a lower swing is expected which will take us down below the previous low of 14350.
Above analysis is based on elliot wave projections and theory. This theory is highly subjective(different people get different results.) Please consult your own certified financial consultant for the fundamentals of the markets before deploying your money.
However Elliot wave theory works on a principal of high probability.