NIFTY

This time NIFTY is taking support near 5400 levels at weekly chart according to fibonacci analysis. in daily chart -MACD indicates some kind of bullish above 5565 levels to 5800 levels. so at this time price line is being trade in between trading range thats why we are in upper stage of the trading range.

Double top in weekly chart indicates bearish for longer term . but i am not sure because 5 wave pattern may be completed near 4700-4800 levels according to fibonacci strong support levels.

so lets see.

Comex Crude

After sharp fall from higher levels now its turn to pause some time as i think ,because daily chart indicates rise trend still alive so we may see some pullback from this levels as i indicated in above chart .

NIFTY

Near 5600 levels nifty is showing Double top as well as crossover in 50 & 200 MA in daily charts indicates fresh bearish mode may be happened with sl 5620 tgt. 5360 and below 5280 tgt. wil be 4800/4500 in near term

so better to add fresh shorting position instead of buying position at this levels with sl 5620 .

And one more thing i want to say ,if u look on nifty weekly chart near 6300 levels which is showing double top that means future trend may be worst than before .

MCX Copper

Copper priceline has been touched previous low & H&S pattern are indicating bearish from this levels to 410-407 so any bounce back to get opportunity to creating short position.

NIFTY

USDINR

NIFTY

As i told before nifty should touch 5800 levels , now nifty is trading near 5550 levels which is showing uptrend on 1hr. chart till the levels of 5650-5800 . But ultimately it should come down below the previous low according to daily chart on the basis of 5 wave impulsive pattern

DOW Transport

DOW transport indicates upward still alive and 5th wave may be completed above the previous high before big correction.

MCX Copper

EW pattern suggests 5th wave may be completed near 500 levels ,if u look on MACD that is not showing any negative divergence at this levels so we may see more uptrend pattern from this levels before big correction.