DOLLAR charts

We take a look at crucial dollar charts . The inverse relation of equities to the DOLLAR is almost 100%. The dollar has hit another POTENTIAL parallel channel resistance line . I expect it to move down from these levels . Also divergence in indicators seen.

The  level has been hitting for 3 times now.

You can see that the SnP just managed to break inside that TRIANGLE . That because of the last bearish candle in the previous chart .

I expect a down move in the dollar now. And that should take stocks higher from these levels

Dollar in a channel.

Dollar has found a workable channel . I expect another move UP , if not to the previous High , but atleast to 77.83 area. Then it could form a DIAMOND patter . For the next move down . Lets see. If dollar goes up , NIFTY goes down . 

DEFTY chart

We got this DEFTY CHART here. The DEFTY waves are more CLEAR than the NIFTY .  We can see  a good WOLFE WAVE in the DEFTY . Targets much lower than current levels. So this down move in NIFTY may not be over.





Nifty and Dollar

Sadly no charts atleast for now . But I am looking at live charts which cant be saved and uploaded here.
The dollar is swinging inside a channel which looks more like a BULL FLAG . It has hit the upper channel line 3 times. And the lower channel line 2 times. . All the more probability that dollar wil come down to hit the lower channel line which will take world markets higher. Nifty will target 5360. Dont know how high it may go.  But if the BULL FLAG interpretation is correct then you knwo what happens after BULL FLAG completes  ; DOLLAR rises and stocks go down . Bought some CALLs  today.

Have fun trading.

A few SHORT candidates.

 TVS Motors chart .The first chart shows  exact retracement to golden ration 61.8%

The 2nd chart shows that the price is channeling  which could be interpreted as a BEAR FLAG .

We also have a wolfe wave target of around 55. .

Elliot wave wise we can say that B completed and C wave is starting now . the RSI is at overbought levels.  This one looks like a definite SELL at the present levels.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
PVR charts  below . Channeling and knocking at resistance levels  . Also can be said to be a BEAR FLAG .  Divergence seen .  Wolfe Wave targets below 100.

Mahindra & Mahindra . 5 waves looks completed. Wave 5 stops exactly at 161.8% of wave 1 .   Flat 2nd wave correction . diagonal triangle in the 4th . Elliot wave doesnt get better than this .

Nifty --a little bounce

Very short term oversold. Filled the bigger GAP . But we left a little GAP at the top which gets filled at 5327.
So expecting a bounce atleast till that level. Not shorting at these levels. Important FED meeting coming up . Better wait till tommorow . But many analyst on the blog are primarily BEARISH . They are expecting a bounce to complete a smaller HnS   and will also complete a right shoulder of larger HnS.

Nifty --Wolfe Wave

Seems like we will atleast revisit the recent highs...If not more. 4th wave of this C is done . Now one final 5th to complete the C and the X.

Look at a few stocks.

The volume action looks good for this one to be classified as a genuine double top. The stock should promptly return to 70 level.

TATA MOTORS --Nice Touch of the Broken  Trend line . Also 50% retrace of previous fall. Momentum LOSS. This one should be SELL.

This stock is forming a Symmetrical triangle . The thing here we are not sure which way the break out will occur. Its striking the Trend line . If it breaks the Trend line with HUGE volume , its a buy .  Just watch now. Break out should be very near

Sasken :::BEAR FLAG

REPRO ----  Double TOP  in this one .  Should come down to 130.

JUBILANT FOODWORKS.::-It had a very good ride . but now the charts look DEADLY BEARISH . HnS pattern can be seen with DROPPING NECKLINE . Though HnS is not confirmed  till now , its better to NOT HOLD  this one . It had found support in its long term Trend line .  it might not this time . This one is UGLY . This should target 350 levels. 

HeroMotors. --Double TOP. Bearish Reversal Candle at TOP.  What else do u need to make up your mind to sell.

HCL Tech . A classic RETEST of the TREND LINE . After the Head and Shoulders break down . Now a DARK CLOUD cover at overbought levels.

Gitanjali :--- people holding this one must be paying attention . though VOLUME action is not very clear , I still consider it as DOUBLE TOP . It has a higher chance of breaking the TREND LINE this time . Huge volume sell-off.

FORTIS :-- This one could be bought with a target of 144.

Canara Bank-- BEAR FLAG .

BEML should target 700. WolfeWAve target red line.

Nifty--Fractal Forecast

Look at the Nifty daily chart and counts below.

I dont have 50 years of data with me . So i was just looking  for similar patterns and I found one. This is the Nifty from June  culminating with the MAURITIUS Collapse.

Nifty channel and COUNT

Remember that channel. Will try to HIT that channel and close the GAP at 5330.

(c) completed . I have placed a W there. Now doing X which should be a 3 wave . Now doing C of X.
5338 is 38.2% retracement of W , i.e from 6338 to 4720. That 5330 has a confluence of FIBO resistances . So BULLS should be carefull.

5 waves need to be spotted in this one . Pink parallel channeling.

 Have to run to office . Will edit and post more info . I think shorts can still be held and dont square off at LOSS.