Infosys, Union Bank, Gold Silver Dow Euro EURINR

Published: Fri, 12/02/16

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The Complete Market Analysis
Dear ,

Today I am Sharing only Updates from ''Indiacharts Insiders'', The World Equity and Forex sections recently moved inside but are at important junctures. Some stocks Gold and Silver and a lot more. So enjoy the Free Bees.

Also An nice Video on Demonetisation. My Audio blog from last week on You Tube on the Markets as we hit some important market reversals in case you missed it.. 


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Week ended 02/12/16



Infosys

Infosys - remains in wave C down whose target was not achieved. Wave C down is mostly subdividing. The orange line on the chart is from the larger wedge at 988. We are bouncing in wave 2 of C and once complete we should start wave 3 of C down. If wave 2 peaks near 990 then 3=1 could go down to 830.

infosys-291116


EURINR

I have been writing about a bottom in the Euro and did post on the EURINR at the start of the month. While it is down the there is now a positive divergence on the RSI and daily momentum is positive again. This contract is available on NSE to ride the Euro rally if the Euro goes above 1.06. The EURINR first resistance is at 73.22 and then it would test the upper end of the falling channel at 75.01. A breakout above that would lead to a bigger move beyond 77.

eurinr-301116


Russel 2000

Russel - After what was a 15 day run of positive closes, the Russel 2000 did turn lowerr from the upper end of an expanding pattern trendline and the yellow trendline from the 2000-2008 highs. With the daily momentum rolling over to sell for most US indices, the question is, are we done here? We should be.

russel-011216


Dow

The Dow formed an inverted Hammer candlestick today. Prices are very close to the upper wedge trendline but as daily momentum has rolled over to a sell we should pay attention to it. We can draw trendlines around the recent moves, it is not a wedge but a break down from it should further mean that the next major leg down has started. The fall should test the lower wedge line of the 6 month pattern near 18130.

dow-011216


Union Bank

Union bank has formed a multi month triangle marked as wave B and so wave C down should be due next. Daily/Weekly Momentum in sell mode. 40 month average is at 161 as the major resistance. C=A for the internal channel points to 76. The larger channel around all prices from the 2010 top is at 62. 

unionbank


Gold

Gold slipped below the 61.8% nark diverging from Silver giving an inter market divergence. The next important retracement mark is 66% at 1157.RSI at 24 remains in oversold territory.

gold-021216


  Episode 5: Demonetization & the Indian Economy | India Risk Report
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  Market Spotlight with Rohit Srivastava 26 Nov
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Rohit Srivastava
www.indiacharts.com
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