COMEX CRUDE OIL

 

Some days before It looked breakout from Inverse H&S formation which is the signs of very bullish pattern in weekly chart but at this time seems could be a false pattern due to trading below neck line But I think upward is still active because of RSI and Trend line . so we may see 102 to 103 levels very soon.  Near Lower Trend line need a Bullish Candle or Bullish Pattern in daily basis then should take action.

SPX,COMEX GOLD

SPX

Bullish till near 1684 levels.

COMEX GOLD

We will look a very good rally in Comex Gold till 1540 after breakout above 1400 levels.  but in MCX  , Rising pattern is still continue but I feel it should come near 27000 levels then see a another rising pattern near 30000 levels again.

 

 



NIFTY

we have seen Nifty didn't cross 6300 levels and consolidation in between rising diagonal pattern which means Bearish ahead. and 5650 as very good support area levels to bounce . if it falls out of the pattern as showing in this above image then we could see a free falling pattern in nifty as I say before till near 4000 levels.

                       This time ,I think USDINR may consolidate in between 57 to 59 levels for 1 to 2 moths but ultimately I think it should come at least near 50-51 levels again . but question is ---If NIFTY falls from here then how could USDINR be near 50-51 levels. Frankly speaking I don't know but chart pattern says to me like this as I said. LETS SEE.

NIFTY

It seems A wave has been completed of 2nd wave then we could see a triangle pattern for further trading where range could be ( 5600-5900).

 

SBIN ( WORSE SITUTAION HAS BEEN STARTED IN THE MKT.)

I think SBIN has been completed 2nd wave if it is true then wait for confirmation to do short for the longer position after a small bounce back.

 

 

 If SBIN has been shown for very bearish then may be worse situation has been started in the mkt.( As I said before --Nifty to touch at least 3700-4000 levels)

 

NIFTY, GOLD,COPPER MONTHLY CHART

NIFTY 1HR. FUT.

GOLD MONTHLY

COPPER MONTHLY

NIFTY MONTHLY

 

Gold--- Free falling movement in gold at this levels is indicating bearish But I feel we could still in falling channel line pattern . and 1400 could be very strong resistance point , so here it may be to touch 1700 levels again bcoz 4th wave is still running according to me .and fearness of falling in eqilty that will be automatically to effect on Gold also means may be consolidate pattern weather there is no bullish sign .

 

Copper---Falling or 3 rd wave has been started in longer term chart

 

Crude--- same as copper pattern . $40 we could see in mid of 2014

 

Nifty

NIFTY 1 HR. CHART

NIFTY DAILY CHART

Nifty did fall as i told before but it touched 5604 (  which is previous low in daily chart) as well as there is no bullish candle pattern yet so we should look for bearish at this moment till 5400-5450 levels for short term .

 

   According to 1hr. chart recent fall is in 5 wave pattern which indicates small bounce back , That could be add more short position at higher levels .