Nifty Weekly Chart 19-12-2013

 Above is the snap shot of Nifty weekly chart after the close at all time high on 9th dec. 2013. Though we have made all time high after Election result ; market would not able to sustain at higher level seen pressure whole week.

Second snap is of Nifty weekly chart on 19-12-2013 in morning just after Fed tapering & Indian Monetary Policy on 18-12-2013.
           In above chart nifty is trading in a Expanding Broadning  Formation which is a type of TOPPING formation whose last leg is about to come in near future targeting towards scary levels. Once it breaks 6100 level on weekly closing basis ; gates are opened for 5922/5770/5480/.........4800 ????????
         Though a little upside may be seen up to 6340 in normal conditions , while this formation has exception that it might  thrust above the upper trend line (may be up to 6550) which will create more panic selling in that case.
                          This all is not going to happen in one day but one may remain cautious at higher level not be trapped at this level. The above explanation is for educational purpose.
                          

World Tracks Them :DJIA & SP 500 25th Sept. 2013

Above is daily & weekly chart of  Dowjones (DJIA)  & SP 500. Chart hint  some bad news is about to come .The world tracks them as Mr. Obama (President of USA) said in his recent speech .  We track them , no levels for now . Will update when levels break . One should be cautious for the time being.

Crude Oil A Confusing Move ???? 23 august 2013 (For Educational purpose only )

 

 Above is daily chart of Nymex WTI Crude oil which is currently trading at $105.13 trading in a narrow range of $109-$102 from last 2 months. Now this Triangular formation is about to mature with in 1-2 week. Particularly it  may give breakout in upward direction if it don't break the level of $102 on closing basis & may find its first resistance at upper trend line @ 107.50-108.10 range. Above it ,we can see Crude oil to reach $114. & If not so then we can consider it to be a distribution phase & price may decline to south ward direction.

Above is daily chart of USDINR spot which is currently trading at 64.59 With a steep upward move from last 5 days. This steep move had a great impact on Indian crude prices & also USDINR always have direct impact on CRUDE prices in india as they are directly proportional to USDINR .i.e. if USDINR is UP, CRUDE prices in INR is also UP  & vice versa ;  invaliding  falling in International crude prices upto some extent or it may consolidate with in a range  what ever trend may be in International market.

 

Above is daily  chart of Crude oil in Indian Currency. Here it has some different formation as compared to NYMEX Crude. It is due to sharp rise in USDINR .Now if in near term if we see some decline in USDINR we can expect Crude prices to fall upto some extent though it may catch north direction in NYMEX.

           Crude at present trading at 6729 (sept. future) , if it break 6650 level we can see some downside ,it may find its first support at 6436 level below 6650 . While 6150 will act as trend reversal level & act as strong support for crude for last 3 months. A move above 6850 might resume its uptrend & may test 7000 level.I will suggest to be cautious at this level & one should track USDINR move before entering any trade as it may play an important role b/w NYMEX & MCX prices.

Quick Update on USDINR 12-08-2013

Above is daily chart of USDINR Future august contract (1$= Rs.60.67)  , An expanding triangular formation is in progress as of now which is targeting USDINR to 58.70/58.50 level . Below 60.44 bears will have upper hand .
        Reason behind this Gain in INR is due to RBI intervention in Bond Market on fundamental basis & technically a short term halt is needed for next big move in INR. One may be cautious at this level.It might test upper level of 63 , above 61.50 it can test 62.52/62.86 level.
      Lets see which level it test first UP or Down.????????

USDJPY Daily Chart 29 July 2013

Above is the daily chart of USDJPY currency pair . We can see a sort of  probable Head & Shoulder Formation labeled in Red font & along with it a wave count (in white font). We have completed a 3rd wave n we r in 4th wave correction . As 2nd wave is complex in nature as we can see in chart ,we can assume 4th wave to be a sharp correction . Wave c of this correction have started . We can assume this correction may ends up near 86-87 level in near future.
                                  Also initial target for HNS formation is also near 86-87 level . If deep correction occurs we can see 83 level also.

Nifty 16-07-2013 Overall Analysis from all prospects

Normal Technical Analysis :
                        Above is the daily chart  of NSE NIFTY (INDIAN INDEX) . A head n shoulder formation is in progress, right shoulder is about to start from today's fall  which would complete near 5500-5450 lvl below that more panic can be witnessed.

   Advance Technical Analysis from Elliot Wave prospect:
                          Above is daily chart of  NSE NIFTY. Major downside leg wave C is about to start which will catch fire in near term.....

Silver weekly forecast 24th June 2013

This is silver weekly chart forecast on 5th jan 2013 for downside target of 17.32.
We are about to achieve it.

This is what happen after that forecast in January. Silver made a low of  $19.32 last week & currently trade at 19.83. A downfall of almost 35% from 30.12 in January to recent low of 19.32 in june , n still fall seems to be continue in near future also . Prices may find support in $17.50 - $18 range. Will update more as per market . 

Menthaoil 19 june 2013

This is MCX Mentha Oil daily chart , after completing the target of inverted Head n Shoulder near 1070 level , its time for short term reversal , a wedge like formation is about to complete in coming days, break below 1010 level will take it to 970 level , n below that level we can see more pressure .

USDJPY Daily 30 May 2013

This is USDJPY daily chart. A Rising Wedge /Ending diagonal formation(A Reversal Pattern which is usually witnesses after a long bull run.) is witnessed on USDJPY daily chart . A break with volume below 100.80 may take it to 100 level a minor support zone for it . Below 100 mark watch real panic up to 97-96 level & there after 92 level. Currently it is trading at 101.06 .

NIfty Weekly Chart 24.05.2013

This is Nifty Weekly chart . A classic example of Support & Resistance .In above chart upper trend line tends to act as support from 2009 to 2011 & there after act as resistance from 2011 to till now .
An engulfing Candle ,Class example of negative divergence in RSI (as highlighted) indicating a bear market is about to start in coming weeks which  may test 5480 as initial tgt n a lower trend line (red color) taking support from 2008 low to recent swing low of 5480 in 2013, as its first support zone , break below this level may start next leg of downside.............

Reliance Head N Shoulder Formation Daily Chart

This is Reliance Industries Head n Shoulder Formation on daily chart , move below 760 with volume may led it towards 660/570 levels in coming weeks.... Bears would have upper hand  ...........

Ncdex Jeera June contract 17 may 2013

This is Ncdex Jeera Daily chart . Above 13400 watch blast in jeera in hours only ..... Initial tgt 13900/14300 , Above 14300 watch boom boom in Jeera..................

Dhaniya June contract big move on upside 17 May 2013

This is Ncdex dhaniya daily Chart .Currently trading near 7000 level expect it test 8000 levels in coming weeks................ n above 8000 if able to sustain then watch unexpected levels...............Soon

CPO JUNE CONTRACT CLASSIC INVERTED H & S.

This is CPO Daily Chart for June contract . A break above 475 level on closing basis may target it toward 495/510 level in short term. One can witness a Classic  Inverted H&S formation in it

Dhaniya 6 march 2013

In daily chart of dhaniya for april contract which is trading @ 6510 , a triangular formation is witnessed which would likely to be a continuation triangular formation initially targeting towards 7000 level , there after break above it , we can see Dhaniya to trade above 7500 level . 

Turmeric 6 march 2013

Above is the attached chart of turmeric april contract .which is currently traded near 6200 level
On daily chart a break above 6300 will boost TMC to 6600 initially ,there after can see rally up to 7000.
         On hourly chart a small head n shoulder formation is visible which target towards 6400 level.