After touching a low of 42 in the start of this month crude has bounced back !! This is the final C wave of wave 4 which most probably might continue till november !! Expecting Brent Crude to touch 70 in coming 2 months !! Anybody who got early around 42 recent low can add more at every dip !!
Wave 3 of Wave 5 : Once breakout happens it would confirm start of wave 3 !!
Nifty is now in overbought zone -- The immediate target on upside is 8990 which Nifty might touch by tomorrow. Other major markets are not moving up i.e. a small correction is on the way !! MACD & RSI - are overbought On Wave count : wave 3 of Wave 3 of wave 5 is about to end !! Expect Nifty to once again touch 8720 approx !! And then the Rebound for New Highs...
So after our last post - Nifty : Brexit Gone - Now What Long The market has risen by more than 8% - i.e Nifty. Nifty is now in a consolidation mode -- which we expect to be over within next 2-3 days - rebound might happen at 8471 and if it breaches this then the next stop 8400 . Wave 5 of wave 3 in play - means complete wave 3 will be ending...
Expecting PTC India to break this level of consolidation zone building for many years !! For the time being : Target 90 Stop Loss : 82 Time Frame : Within This week
Fed Hike -- Fed did not changed their stance on rate hike i.e. status quo !! After Brexit it is more likely that there wont be any further news till sept for further rate hikes !! Brexit -- Is it Good ...Is is bad .... we don't know !! This Event is now gone !! Many are comparing this event to lehman brother 2008 crisis, Acc to us their imports have got...
AAPL: Wave 5 ended at 130's and since then it is going down . For the time being AAPL looks like in ABC correction LOng B move on upside around 120 - 125 !!
Gold has broken its trendline resistance and now finally after consolidation has started to move up !! Expect the next target of 1400 on XAUUSD within Aug end !!
SPX 500 in Wave 3 of Wave 5 !! Next Week FED Meet -- Will that Push SPX500 to All time Highs Lets See !! But Don't u dare Short now !!
Crude is now trading between its 50% & 68.2% fib retracement level. Also brent has now reached a resistance -- parallel channel on weekly Looks Like a abc correction - of which wave b is about to start !! Since June month is lined with surprises : FED Meet, Brexit .... Best to sit out rather than go long or short -- too much volatility will come into...
Once it breaks the upper trendline just go long !! No looking here and there -- Wave 5 in play !! Looking for nearly 100% targets as wave 1 did !! Wave 3 of wave 5 is about to unleash when it crosses upper trendline resistance ! ! ( Watchout for gap ups during this phase ) ! Expecting 1200 in next 5-6 months !! or even before in April !! Sl remains...
We have now completed Wave 3 on downside !! Wave 4 has already started !! Expect Wave 4 to hit at 45 to just below 50 $ by October/ November -- not later than this !!! Dollar Bulls have been exhausted -- helping crude to rise !! * The World is still consuming more oil than in 2008 !! So there is no flood of Oil instead it's simple inverse relation...
This is the start of Wave 5 : After touching its low of 6825 !! Wave 1 of wave 5 has broken its upper trendline support !! Now it needs to cool down as it is now overbought on Daily charts -- Expecting 7500/7400 as end of wave 2 in coming week by 11 May'16 !! Once Nifty breaks the upper Trendline again it would confirm start of Wave 3 of Wave 5. Some...
Short Brent Crude : 1. RSI & MACD Divergence 2. At 200 DMA - 44.50 Short now with Stop loss 46.20 for targets of 35 in coming 5-6 weeks !!
Oversold : Too Much Shorted HIgh Volume at last low Divergence in RSI and MACD Long UJ for 112-113 within next 2 weeks with Stop Loss at last low of 107.7
Confusion among traders !! In between channel !! MACD falling ! ! RSI also has peaked and on other hand very poor data with from the US is forcing traders to cut longs on DXY !! SHORT : USDINR LONG : NIFTY
Wave 4 correction is coming to an end !! MACD still above wave 2 low !! RSI close to wave 2 low !! Wait & Watch !!
EIther this is the start of Wave 5 : If we are in start of wave 1 of wave 5 Expect to finish Nifty closer to 7600 by end of Jan -- which would confirm long bias !! Wave 1 needs to break the upper trendline and bounce back from it -- which will confirm start of Wave 3 of Wave 5. Axis Bank has shown 2-3 gapups a sign of upmove !! Look out for Yes Bank as...