Nifty 1hr. Chart,Dow Transport

Dow Transport

This chart is totally different than the Dowjones Industrial Avg. and S&P . but according to this chart 5 wave or C wave has been completed and trying to make in ABC wave pattern. where A wave may be completed near this levels of strong resistance point then may fall below of previous low near strong support point in 3 wave. then rise.

Nifty 1hr. chart

Positive divergence in MACD indicates bullish as well as in EW theory also. at this time i am just thinking nifty may fall from 5000 levels to 4950 levels then upward till 5150-5170 levels in 5 wave. which may be end of the total rising pattern from lower levels.

Nifty,Mcx Copper,Comex Silver, S&P

NIFTY

MCX COPPER

S&P

COMEX SILVER

MCX copper--- i think we may see one more down trend pattern which could be B wave near 388-90 levels. then rise till the levels of 420-25. below 8700 levels 8500 will be the next tgt. in LME copper chart..

Comex silver-- i don't think silver wouldn't fall more but i am very bullish till the levels of 50. where 3rd wave is not completed yet.

Nifty--- Nifty is in down trend pattern where we may see some kind of pull back rally also. after completed 3 rd wave then may see ABC wave pattern for the 4th wave where C wave must be near 5250-5300 levels before looking free fall pattern.

DOW

s we have seen , before EW theory has given signal Double dip recession when Dow is trading at 9670 levels after completed B wave of B wave according to Robert Prechter for the longer term . see one thing i just want to add EW theory is giving the direction of trend for further movement not for buying as well as selling . and u can analyze particular in Index chart , not for stocks . So u have to add position according to ur indicator which u have followed after getting confirmation in Trend. that wil be easy to get some profit in the market. I have seen most of the people said EW theory is nothing , this is BAKBAAS but they don't know how could it use or less knowledge to get identify the wave and it also use on shares,index etc. as like indicator for buying and selling . i just want to say this is not a easy theory as u have thinking ,there is if and but also. But in IF and BUT u have to find out which wave is right after learned this theory.

According to me i am just confirm the trend then go for indicators to add buying as well selling. This is the only one theory which could give signal for loger term view in the market as of my knowleadge still i am in learning stage.

And after completed B wave i think US market will give bailout package near C wave level or some days before so that Dow may recover from 5200 levels to 14500--15000 again which will be the B wave in ABC wave method . and in that rally Emerging market will get more benefit than US market. Thatswhy they are depending upon totally on Emerging market or BRIC countries.


i just want to express about EW theory which is written in above not like speech or advice for u have to follow.

Dow vs. BRIC

Since few months BRIC countries are driving the US market. if u look on DOWJONES Transporation Avg. with these countries then u will be get divergence . so that means BRIC countries are the major driver for world market. So at this time , i think Nifty-- has been entered in mid term correction, Shanghai--- is not giving the conformation yet for bearish as well as bullish, Brazil--- still it is in bullish mode so we have to wait for converting in bearish mode to all of these 4 countries index . then we can see double dip recession in US market rather than Emerging countries like India. so yes i am in very bearish mode in Nifty ,if other 3 countries will take to lead in bullish then it will be help for India as well as US market also.


i hope from here,we could see some kind of pull back rally for 15 days to 1 months in US market. Dow vs Dow transport is good indicator for US market if one index shows buy and other index shows sell then we have to wait for converting in one side ( whether buy or sell ) . here Dow shows --sell and Dow Transport shows--- still in bullish mode thatswhy i am in neutral and wait for the conformation.

Nifty Daily

After clear breakdown of 5200 levels indicates bearish for mid term as well as longer term also. so at this time i think falling pattern should continue till the levels of 4300 for mid term then near 3100 levels but before breakdown of 4300 levels we may see some kind of pull back rally.

NIFTY Daily Chart

As we see nifty is trading in between 5200 to 5740 levels and breakdown or breakout of either levels will take decision for the direction of nifty.

So at this point i am in two sides which one is bull --- where double bottom is near 5200 levels in daily chart indicates very bullish above 5900 levels . and if we r completing the ABCDE pattern in Broadening Triangle formation then we can see huge uptrend pattern after making 2 nd wave in ABC wave near 5400 levels for the tgt. of 6100 levels which is strong resistance point.

And another is bear----- if this is not ABCDE pattern as i indicated in chart so that wave may be 1st ( 5177 levels) and 2nd (5944 levels) wave and 3rd wave is running where 1st wave ( 5195 ) and 2nd wave (5737) has been completed in 3rd wave then the tgt. of 1st ----4300-4450 levels and 2nd ----near 3100 levels . if price line will break 5740 levels then bear pattern is false and breakdown below 5177 levels then more probability touch 3100 levels .

So i am just looking for these two levels to taking decision for further period. and Daily RSI chart indicates bullish as i think.

MCX Copper 4hr. chart

Copper is trying to go above 438.4 levels but seems to go down which can be C wave of 4th wave till the levels of 424-25 . but above 438.40 we will see more uptrend pattern after breakout from that levels . At this stage i am very comfortable to stay in buying side whether at this levels or near 424 levels.