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.

NIFTY

As i told before , nifty should touch 4500-4600 levels onwards. so any bounce back (near about 5600) will be get good opportunity to taking fresh short position .

But question is what will be the longer term direction ?

At last i got the answer according to me , which is --we may see some kind of trading range from 4500-4600 levels to 6300 levels for few months so either side breakout will get clear direction of the longer term trading chart. so u can buy near 4500-4600 levels and sell near 5900-6100 levels then will stay away from the market . And weekly chart indicates Double top near 6300 levels which is longer term bearish pattern , daily chart indicates Cup & Handle pattern ---bullish pattern so we have to wait for further direction .

------Above 6350 tgt. 7200 levels--10000
------Below 4500 tgt. 2200--2400 levels ( after bounce back as i indicated in chart ) .