NIFTY SPOT

4900 levels has been touched as i told before . and now onwards i think we should stay in buy position instead of making short with sl 4720 . After completed 5 wave downside pattern in indicated in black number which indicates for ABC wave in upside . so we have completed A and B waves pattern and C wave should be near 5400 or 6000 levels or depending  due to positive divergence in MACD, RSI .

USDINR is trading at 51.40 levels which is above my expectation  but indicators like MACD, RSI all are giving negative divergence so most probably we may see some kind of sell off pattern and also in US Dollar

USDINR, NIFTY

USDINR

NIFTY SPOT

4900 levels as a strong support as i told before .In today Another chart pattern is in my mind which is--- 5 wave pattern of C wave for the tgt. of 2000 levels .

              1st pattern------ if nifty breaks 4720 levels then we may see strong strong strong support levels  near 4400 , then see huge uptrend pattern.

              2nd pattern----- if nifty doesn't break 4720 levels and back to 6300 or higher that levels the downside tgt. will be 3600-3700.

              3rd pattern------ if nifty doesn't break 4720 levels and back to 6000 levels then fall, Tgt. will be 2000 level or 2008 year low.

USDINR---- It seems like Broadening Triangle formation which may be completed near E wave as i indicated in chart and that could be 2nd wave . if it is true then sure my 3rd pattern in Nifty will be happened .

Lets see.

MCX COPPER

MCX COPPER

Copper has been rebound from 374 levels to 396 levels which was unexpected as my thinking so at this levels if Copper price line will go above 396.50 for the Tgt. of 408-409 levels on upper side then may be happened a good correction at ABC wave method. But if price line will breakdown below 374 levels then we may see a good correction in 5 wave pattern which could be 5th wave of Y wave for the Tgt. of  340--300 levels. with sl 396 levels.