NIFTY

After a big pull back rally near 5200 levels indicates bullish in near term . so for the conformation i am expecting it should fall near 5700 levels of previous high as i indicated in chart then rise without touching previous low . i think nifty should consolidate for the few months in the range of 5700--5200 levels or creating inverse H&S pattern. But according to daily chart i am still in bearish mode . For the bullish i have to look when nifty will cross falling red dot dot trend line as indicated in chart or indicated --buy for the short term.

MCX Copper

5th wave is not showing the straight downfall as free fall so it may be as wolf wave bearish pattern to completing the 5th wave but at this time 393-94 levels will be taking as support

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