Dear Members,
21 DECEMBER 2015
The weekly elliott wave commentary with Targets and levels is published every Sunday to Subscribers, This is only an
excerpt.
MEDIUM TERM
NIFTY ELLIOTT WAVE UPDATE
For the week we closed positive. The 2-3 week cycle has been prominent lately. The pattern remains
complex, weekly momentum is still to confirm. The broad market and currency are giving advance clues on the way ahead. READ MORE
Don't miss this month's Long Short Report. Also...
Here are some of the updates that have been posted on Indiacharts over the last few days from various markets. Posts are made real time and can be found on the website as latest news when posted. They are then
emailed clubbed together. Insiders get an email update before noon every day covering all the high probability set ups that we observe across markets that we cover including Nifty Bank nifty Gold etc.
Soy Meal continuous [CBT] - has fallen to the
wave 4 low in 3 waves and weekly RSI is now below 30. Should bottom soon longer term. 
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Jakarta starts wave C up where C=A can take it to the 61.8% retracement mark. The fall since April was a 5 wave decline so this is a counter trend move. But the counter trend move up does not appear complete 
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Thailand - the entire deccline from Feb of last year
appears like a 5 wave decline to the re3cent low. Wave A?, Wave B up maybe around before the next leg down. 
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The US 10 year notes saw a slight bump up in yields yesterday, however the chart of the 10 year futures show a broad trading range that has not been broken all of last year, and prices are at the lower end. So only a push above 2.30% on yields would break this range I think. Unless that happens the panic in bond markets may recede in the short
term. A move lower in bond prices from here would however raise the risk on all assets. This is an important support. 
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The Euro retraced 50% of its gains in wave i down to the 20dma at 1.078 which should be a good support for wave iii up to 1.13 to start. 
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Rohit Srivastava
www.indiacharts.comFor accurate market forecasting. Market forecasting is a study of past data to assess
future probable outcomes. It is our endeavor to discuss
high probability outcomes for
traders and investors. However this is not a solicitation to buy or sell stocks futures or
options or any security. Trading in any financial market should be done with sound
knowledge and the help of a qualified investment adviser. Stocks based on the Elliott
wave model are based on the Fibonacci fractal of the market and momentum indicators,
targets are based on Fibonacci maths and are only
indicative of what the mathematical
model throws up. This is not a recommendation to buy/sell.
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