IC - Nifty Video Zinc Aluminium MCX Bonds China

Published: Thu, 11/09/17

     

Dear Members,

09 November 2017

I have already sent you a separate mail about this Months Long Short report and I think it will end up being the most important and timely note yet, so do not miss that.

Below are the Free updates from the Many posts on Indiacharts, including a Nifty video for insiders. Also Mcx posts that were free for the last 10 days online so I hope you have devoured them. Enjoy!



Zinc Mcx

Zinc Mcx is in a downward channel, marked A-B-C and C goes to 197.501 as the next support.

zinc 081117


US 30 year T Bonds

The US Bond market has started a rally without breaking down, this could discard the immediate crash case for the bond market. Meaning that the alternate could kick in I.E. wave B is not over and still forming. Wave C of B then is 2 weeks old and could last many months retracing up to 50% of wave A in the rally.

bonds081117

Note while a bond sell off that is sharp would pull everything down anyway, Bonds also remain mostly inversely correlated to US stocks. The chart below of the Dow and 10 Year notes shows this. Pink lines show periods of bond rallies that cause US stocks to either fall or underperform. So if wave C up has indeed started then it maybe an early signal of another period of US equities under performance coming up. But on the other side it means that the expected bond market sell off into a third wave down is for now off the cards, despite a much expected rate hike into the year end.

bonds081117a


Nifty Video Update

Nifty video on the wave count so far on hourly charts. Wave 2 bounce going on wave 3 should be next. Also USDINR revisited 5 mins

http://screencast-o-matic.com/watch/cbXQf92ldJ


Shanghai

Shanghai - has been inching higher. So looking back we could be in wave C/3 that can travel to the upper end of the rising channel. Here the first wave is a leading diagonal, a 5 wave rise where all legs overlap and wave 3 is not the shortest.

shanghai091117


USDGBP

USDGBP has taken support on the 20dma and should be on course toward 0.785 in wave III up that should breakout of the falling channel.

usdgbp 091117


Aluminium Mcx

Aluminium Mcx - dropped below the 136.75 support. The next major support is at 131.50 near the wave 4 low.

aluminium 091117

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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Rohit Srivastava
www.indiacharts.com
For 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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