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

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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....

Abhishek H.Singh, CMT
Trade active: 23:50 Hrs--IST--3rd Aug 2016----Has FTSE Taken the flight to Srilanka From India...Regards, Abhishek
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
How come wave 1 is made of 3 waves. If it is a leading diagonal then it will have 5 internal waves rather than 3?
Leading Diagonal has 2-forms ...either it is 5-3-5-3-5 leg or another through 4-5 years of experience ---I found leading taking shape of 3-3-3-3-3....so it is termed as leading diagonal Type-1 & ending diagonals as Type-2.

Regards, Abhishek
AbhishekHSinghCMT PRO AbhishekHSinghCMT
Hi, Do start putting your updates as well on Indian Version of Trading View---in.tradingview.com---Regards, Abhishek
vinodsinghfcca AbhishekHSinghCMT
Actually i have a blog where i post the direction and detail elliott wave analysis of nifty. Plus i have few stocks as well where one could make good money. should i post here.
Yes..off...course....Its a good platform...people will follow you...once they like your analysis... Regards, Abhishek
HI Abhi,
Good Morning
What's your call on nifty and bank nifty today
Hi Samir...Good Morning....Please put all your comments in related updates like Nifty comments in Nifty only...otherwise there will be lot of confusion. Nifty Weak point again is 8620...going Below 8620 ..We can take short with day high as stop book in 8580--8590...if it breaks 8590 then hold it for 8540--8545...Long positions only above 8710...looks risky at this moment..Regards, Abhishek
AbhishekHSinghCMT PRO AbhishekHSinghCMT
Hi Samir, You too...let us develop Indian Version---in.tradingview.com....Regards, Abhishek
Sir wat are the chance of this scenario to play out?
Likely we are on sitting on top & chances of falling are very strong- just got extended. 7122 is critical level- this is actual leading diagonal.
danrindia AbhishekHSinghCMT
Hi Abhishek,

Any advise on $FTSE here, I am sitting with shorts and its giving tuff times. Do you think I should hold my shorts or add more on this level ?
Let me just come back to you. Likely there is pressure still give me some time- I shall revert back. Regards
danrindia AbhishekHSinghCMT
Ok. Will be waiting for your response

7122 was critical level - my god Today's high 7119 - Likely I will have to do count again -I don't think it should retrace so deep almost 99% -usually leading are retraced deep but not this deep- Le me see tomorrow's price action.
danrindia AbhishekHSinghCMT

Thanks Abhishek. Actually I am having shorts in this but I am really not sure which way to go. I am still holding my shorts hoping that it pullback around 6900 ?
uttamtrader15 AbhishekHSinghCMT
any view Sir?
Hey man just slipped -I do forex, commodities & index -my god- I don't get time to sleep as well. Sure, Let me check I reply back
abhishekji any chances of FTSE topping today ?
This structure is looking bad for longs -I mean to say it is extending upside to take stops of all shorts but likely it is matured stage -once it starts falling I will look for crucial supports as mention in this chart
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