23 September 2013

GLOBAL MARKETS

Hi Friends,

Lets look at the Global Markets which are Ready for a Long Term Trend Change.

NIFTY
NIFTY
As mentioned in the previous post a close above 6060-6090 has invalidated the previous count. The move from 5118-6142 has retraced more than 78.6% of the fall in faster time. So it doesn't qualify for a correction of the previous fall. So a little change in short term counts.

Nifty seem to have completed (C) Wave at 6229 & the Fall from 6229-5118 was (D) Wave of the Larger 'C'. Current move seems to be'a' of (E) and Nifty might retrace in wave 'b' to 5798-5811-5833. And then 'c' of (E) might head to 6249-6289-6311.

This view will be valid until Nifty holds 5798-5811. A close below 5798 would mean end of (E) at 6142. Then I would be looking for a fall sub 5000.

In short term though Nifty might have upside towards 6300 I would stick to the Bearish view 
starting from October.


DJIA
DJIA
As mentioned in my previous post DJIA seems to be in Expanding Pattern. The Rally from 2009 Lows looks a Corrective Rally and not a Directional move or Impulse.

The Rally seems to be in its final phase with Intermediate Degree (Y) in play. DJIA has Strong Resistance near 16000 and upside looks limited. Break below 15000 will indicate medium term trend change. And break below 13660 will invite a huge downside back to 2009 Lows.


DAX
DAX
As mentioned in my previous post Germany DAX seems to be in huge sideways pattern since 2000. Currently it seems to be in Cycle Degree Wave 'D'. With Z underway inside(Y).

DAX seem to have completed Z and upside looks limited to 8900. Close below 8100 will be Indication of a Next leg downward in Cycle Degree 'E' Wave which could take the Index towards 5000.


FTSE 100
FTSE 100
As mentioned in my previous post FTSE 100 seems to be in huge sideways pattern since 2000. Currently it seem to have completed Cycle Degree Wave 'D' With Intermediate Degree (Y) seems to be complete at 6875

FTSE 100 may not have much upside potential above 6700 in wave 2. Break below 6500 would be initial indication of start of minute degree wave 3. Close below 6100 will be confirmation of a Next leg downward in Cycle Degree 'E' Wave which could take the Index towards 4000.


Thanks & Regards,

Harsh Dixit.