FTSE100- Will FTSE100 be 1st to crack & drag India Nifty Dn

April 2015 was the crucial juncture for FTSE as well because it was putting multi-month top@7122...since then FTSE made a low@5768...This fall could be best placed as leading diagonal & leading diagonals are deeply retraced ...which we are currently witnessing...its almost retraced 80% of the fall from 7122 to 5768 in the form of complex correction W-X-Y?--Yellow Wave.. at current closing@6725.

Yellow Wave -Y? is almost close to the neck & its internals suggest that C=A could have been the target but the way FTSE is moving is giving doubts (next target could be C=1.382% of A--which will even retrace the fall from 7122 to 5768 deeply)...& why not EURUSD also looks to be in trouble in coming days...in all, sentiment is not good for bulls--it can attract by creating more euphoria & throw over process -to turn last bit of retail bears into bulls...& tempting trades on longs...

So, one should really be careful...may be 10-15 days from now or middle of August 2016...we expect some big movements ...here as well --I am expecting a thrust downside & it will be strongest of all moves downside...

Looks like all global indexes are close to some topping process...I have just taken FTSE100 as a warning indicator & why it could drag India Nifty down in coming days....

Regards,
Abhishek H.Singh, CMT

Trade active:

23:50 Hrs--IST--3rd Aug 2016----Has FTSE Taken the flight to Srilanka From India...Regards, Abhishek