NIFTY SPOT

NIFTY SPOT

Falling Channel pattern is in ABCDE wave which is 3-3-3-3-3 wave that indicates price may pull back after touched 4400 levels in ABC wave method for at least 3 months as i think. But started new bullish trend in Dollar is confirming to Equity market may continue lower low that means if price will be achieved my higher price tgt. ( 5400-5500) in ABC wave method and then fall below 4400 levels which means free fall for the at least 1 to 2 years in nifty , may be below the 2009 year's low .

I think nifty should trade in between 4400 to 5400 levels for 3-4 months then will be decided for longer term TREND.

USDINR, EURUSD, COMEX GOLD

USDINR

EURUSD

 

 5 wave may be completed near 53.50---54 levels in USDINR which indiactes fall in ABC wave pattern , that will be help for equity market in future to grow but Nifty should touch 4400-4500 levels very soon according to me . if it happens then most probability to add more buying position in Equity market near 4400 levels for at least 3months then see free fall. Same thing as like USDINR in EURUSD .

COMEX GOLD

After broken down below previous low 1665 levels indicates down fall may be continue till the 1600 levels which is Fibonacci strong support point and H&S in RSI indiactes also down fall where 1620 is a good support levels on monthly chart. 

Nifty Fut. Daily Chart

If price is closing below uptrend trend line then indicates bearish due to Doji pattern at higher levels with overbought in stochastic indicator

COMEX COPPER, 10 YEAR TREASURY NOTE

MCX COPPER

COMEX COPPER

I was wrong about my previous prediction but at that time i said  bullish above 402 levels in MCX. Overall pattern is not still clear for longer term pattern according to me where my thinking says copper may go higher high from current levels due to breakout in H&S pattern  happened in weekly chart of  RSI for the Tgt. of 450-60 in MCX and in COMEX near 4.20 levels. Comex Copper chart clear indicates for bullish after small correction happened may be near 390-385 levels in MCX . That's why i am just looking for a small correction but My mind is still open to taking both position . Lets see. 

10 YEAR TREASURY NOTE

Breakdown below 129.50 levels indicates 126.5 levels in few days and this is the positive for US market or Equity market. 

USDX, COPPER

USDX--Dollar Index

 Dollar price may fall at higher levels . and C wave of Entire Decline Impulse wave has been started so we have to wait for a small correction at higher levels for the 2nd wave as i think and total 5 wave or C wave pattern may be completed near 100 levels .

MCX COPPER Short term chart

COMEX COPPER Longer term Chart

Comex copper chart indicates for the longer term movement and the initial tgt. is 2.6 levels for 3rd wave which may take good support according to fibonacci analysis. and in Short term MCX Copper chart indicates 1st Tgt. --355 , 2nd Tgt.-340, 3rd Tgt.--300 levels . i am very comfortable in Lead, Zinc ,Nickel for bearish than the copper .

MSCI EMR ETF , DOW Transport

MSCI EMR ETF ( Emerging Index ETF )

 This chart indicates H&S pattern which is bearish for longer-term so if u look on volume then see decline volume on right shoulder which indicates to price may not go above near 50 levels  . According to fibonacci analysis 45 levels is a strong resistance point , so at this levels we may see some kind buying moment at lower levels for the completing of C wave of 2nd wave as indicated in chart.

Dow Transport

Yesterday falling pattern may be completed near 4200 levels as i told before so that will be the B wave of entire Declined Impulse wave pattern then rise for C wave of 2nd wave .

NIFTY SPOT

Nifty breached 4720 levels which is the previous support that means we may see more downfall pattern near 4350-4400 levels . and in 1hr. chart indicates some kind of pull back rally may be happened from 4700 levels to 4850 levels which will be the good levels to go for short  in Nifty fut.