WILL NIFTY REPEAT THE HISTORY?

Hi Friends,


Nifty has been sliding continuously since last few weeks and there is no respite for Bulls.


Though It witnessed intermediate Relief Rallies; It is still missing Long Haul of Bull.


But when this correction will End?


Well as the logic says in Adversity lies Opportunity. 


Currencies Globally have already started Reversing, Indices have yet to begin.

NIFTY

On Daily Chart Nifty managed to give closing above 4830 & 5 wave decline in the C leg Looks Complete. Also We have Positive Divergence On RSI. So today's low Might be the Bottom for Nifty. But on Intra-day Chart 5 wave decline still appears incomplete. And 1 last leg Down in Panic Sell Off may take Nifty lower to 4729 or 4703.


VIX Also Reaching near 30. So I'm awaiting such Panic Sell Off & VIX to touch 30 levels.

INDIA VIX

Once this Downward Correction gets over Nifty is likely to retrace up to 61.8% to 78.6% of the Entire Fall.

NIFTY

So lets Wait & Watch.


Thanks & Regards,


Harsh Dixit.

CURRENCY UPDATE

Hi Friends,

It is generally observed that Currency Movement gives Early Indication of Equity Market Direction.

Here are some Currency Charts which are indicating a short term Reversal on the cards.

DOLLAR INDEX

Lets 1st look at the Dollar Index Chart which is villain for all the equities, commodities & other currencies with which it is paired. The Dollar Index which has Long way to go to 89-90 has completed its 5 Wave Advance and is setting up for Reversal in Global Equities along with itself. It could retrace back to 61.8% of this advance to 80.49.

EUR/USD

 Now lets look at this Other Equally Important Global Currency which is paired with Dollar. The EUR/USD seem to have completed its 5 wave decline & is setting up for Pull Back Rally up to 1.29 i.e. 61.8% of this decline.

Finally lets look at this USD/INR chart. While INR making New Low Nifty has not yet made the New Low. But with Friday's turmoil in Global Markets Nifty is likely to finally make New Low around 4731 before it could Reverse.

USD/INR

Well this USD/INR Chart also seem to have completed 5 Wave Advance and is setting up for a Reversal. It could Retrace back to 52.85 or 51.95.

Now with the Currencies Signaling Reversal; Relief Rallies in Equities across the Globe are also due on the Cards.

So let’s Wait & Watch

Thanks & Regards,

Harsh Dixit.

GLOBAL MARKETS UPDATE

Hi Friends,



Most Of the Global Markets are about to Complete 5 Wave Decline & are Set to Head Up in a Pull Back Rally. Generally the 1st 5 wave decline is retraced the most and traps many Bulls.

DJIA

 Dow Jones & S&p 500 have now Similar counting & would complete 5 Wave Decline in Day or 2.

S&P500

CAC 40

CAC 40 is also About to complete its 5 wave decline & as soon as it finishes 5 wave decline it would start inching upwards in wave 2 of the 3rd.

DAX

Germany DAX is in its 5th wave which appears to be a Ending Diagonal where (e) leg often overshoots out of te falling wedge line.

FTSE 100

FTSE 100 also on similar line to complete its 5 wave decline.


As most of the Global markets including Italy, Spain, Switzerland are about to complete 5 Wave decline a Pull Back rally is Due Across the Global Equity Indices.


But remember this is just a Pull Back Rally & coming months will be Bloody Red.


So lets Wait & Watch.


Thanks & Regards,


Harsh Dixit.