Market Grind - IC News

Published: Sun, 04/07/19

05 February 2019

Financials Jeera Dollar USDINR

What the RBI did has finally put in a low for the USDINR in line with the developing trend in the dollar index toward another round of a strong dollar. On the other hand Financial stocks come under pressure around the world as interest rates start to rise again. Did I say Rise? Don't look at what the FED is saying but what the Bond market is actually doing. Look.... READ MORE

BSE Finance Index

The BSE Finance index behaves better maybe than the Bank nifty, similarly the Nifty FInance index. This index below has 100 odd stocks and makes it a broad based average. And so the pattern shows an expanding triangle pattern with the top end today at exactly the blue line. It was touch and go as prices sold off from this level. Now it is upto the RBI tomorrow to save the index from what can be a complete reversal of trend from here.

finance 030419

Dollar Index

Dollar index moved up in 5 waves marked as i and is now in wave ii down with support at 96.40

dxy 040419

USDINR

Wave V did not fall below the wave III low making the end of wave V appear truncated. Also till we close above the 20dma at 69.13 the odds of one more push lower in wave V cannot be ruled out completely.

usdinr050419

USDCNY

The dollar rally in the Chinese Yuan still building a base. A few wave count changes like the ending diagonal in wave 5 of C of 2 down. A breakout above 6.73 may kick start a rally for weeks or months on the upside for the USDCNY

usdcny050419

USDSGD

USDSGD has been quiet after the 50% retracement in wave 2. Forming a triangle at the lows and waiting for a 3rd wave impulse to show up.

usdsgd 050419

Jeera Quintal

Jeera looking good after an almost 88% retracement. The first rally was 5 waves and marked I and II and we should be in III up.

jeera 050419

USDJPY

USDJPY is in a large triangle and it is edging towards the top end near 113.50, with the 20dma support near 111

usdjpy 040419

'' 30FREE ''

Use Coupon Code - Get Started

Don't WAIT for this update! GET Nifty Daily Weekly and the Monthly Long Short report and everything else directly in your mailbox

STAY AHEAD of the market turns. 3 Steps away. And WORTH many times more than what you pay.

Go here SUBSCRIBE NOW

Rs.700 PER MONTH

CCAvenue - PayPal

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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, Levels are based on Fibonacci maths and are only indicative of what the mathematical model throws up. This is not a research report. We are not investment advisors This is not a recommendation to buy/sell.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Value Wave Stocks discusses the short term trading set ups that we use while taking our trading decisions. Value wave Investments. discusses the long term set ups that we use while taking our investment decisions. We hold investments in these stocks and are interested in these opinions. This is not the only reason considered while taking our actions. Kindly take the help of a qualified investment advisor before trading. Rohit Srivastava is a Fund Manager of a trading PMS fund at Sharekhan Ltd. that has active open long and short positions in the futures markets at any point of time. The opinions here are for your education and understanding only of how we identify stocks to trade/invest in. We change our opinion daily and even hourly. Any actions taken by you are at your own understanding and risk. We do not offer personalised advise or research of any kind.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You have received this mail because you signed up for it on our website and agree to our terms and conditions and privacy policy listed there. If not, you may unscubscribe with the link below at any time.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Please do not reply to this message. email to indiacharts@gmail.com