Nifty daily, & 1 hr. charts

Nifty 1 hr.chart

I was wrong some days ago ,in which nifty has to touch 5700 levels but at this time nifty has been crossed 5328 levels that means fresh downtrend pattern has been started according to me, which is the tgt. of 4550-4650 levels in daily chart. According to chart pattern-- H&S indicates fresh downtrend in downward daily chart . 4800 levels is the strong point on weekly chart where nifty can take decision whether it will go up or down after a strong pull back from that levels .Means for Bullish--- it shouldn't creat H&S pattern on weekly chart and for Bearish----should creat H&S pattern. Lets see

FTSE

FTSE is quite similar as DOW and S&P charts but at this time i think downtrend pattern will be completed as early than other Index charts so according to me FTSE is trading in C wave which may be 2nd wave . that will be the support to other index as well as commodity index also to go upward .

EURUSD

After B wave completed C wave should be ended near 1.37 levels in 5 wave pattern as i indicated in chart. But longer term chart is quite difficult me to prediction for further move so thats why i am just going through short term chart then after i will be clarify later.

S&P,Nifty

Nifty

i don't think nifty should fall without achieved the tgt. which is 5660/5700 levels of C wave . i will be positive after getting conformation in RSI .lets see

S&P

after completed 5 wave pattern now its turn to for ABC wave , so at this time we may see A wave which is in 5 wave thats means B wave should not cross previous high, it may come 38-50% of A wave .

MCx Copper

After completed 4th wave now its turn to for 5 the wave . but at this time trying to make some kind of consolidation which we can say that trading in 2nd wave. so creat short position @ cmp or near 407 levels with sl 413.60 tgt. 390/380/375 levels

Nifty

After A & B wave completed now its turn to for C wave which may be near 5750 levels ( strong resistance ) . Then we could see strong down fall without any break as i think.

If we see on Dow, copper,gold ,silver, crude etc. are given some kind of selling pattern at higher levels so we should be cautious at higher levels in nifty. Thatswhy i think we could see selling pressure at bearish phase in nifty.

Copper

Copper 1hr. chart

Copper daily chart

Copper may go up 415-16 levels which may create H&S pattern and it will indicate for further direction after breakdown from red trend line ( in 1hr. chart ). i will take to short position below the red trend line , not in 416 levels.