The blasts dont seem to have shaken the wave counts for the Sensex. As seen from the count below the sensex started a 5 wave pattern which was completed on Tuesday 12th. Today's rally is part of a C wave will probably take us upto 18824 which is a 61.8% retracement of the leg down that started last Friday morning.
The next down move should start after the completion of wave C, then the news outlets can blame the FII's for selling.
As i post this the market is currently at 18746.44.
FYI: My long term count highly relies on this short term move playing out.
Its July20th sensex is at 18658. Look to see how these levels (18500 &18300)hold over the next couple of days, a lot will depend on this...
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