Commodities and Precious metals

Commodities and Precious metals - updates

Published: Wed, 08/21/19

The Truth About The Markets

The Nifty Daily - Newsletter sent out this evening is complimentary copy for you all
today, read and enjoy the perspective.
Yesterday I noted that sentiment is extreme [ET article], so keeping alternate counts open

World markets are in bounce mode but Nifty has not joined in, will it?

Argentina Merval

Argentina - just went kaboom, but that is rare, in the past currency crisis the stock market sold off a bit but then rallied a lot more. The currency devaluations was considered positive inflation for stock markets. but this time the bonds also gave up and the market panicked. But it maybe something else, a long term top in this stock market along with others that have topped already. The expanding triangle on this chart is typical of 5th waves and ending patterns. We closed below the expanding pattern so we can now project the pattern down to 21000. However by the time III=I and then wave V is done we could be down to 14000. The Merval index is in a bear market.

Argentina

Nifty Daily

LONG%	SHORT%
25%	75%

Automated Trend Model

SIGNALSHORT

NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	11290-11530	10900

Nifty gave up all gains and closed below the blue trendline. However till 10870-10900 hold we are in wave b and wave c up can still unfold. 10870 is the parabolic SAR trailing indicator, a good way to monitor stops at times when nothing else is useful. We closed at 10918 right on top of the 66% retracement mark for wave b. Daily momentum remains in buy mode below the zero line. Price action will not make you comfortable today but I am sighting risk that we go up a little more short term before the larger fall continues due to extreme pessimism.

nd210819

The triangle structure of the pattern may change as the look is missing. The alternate is that of a flat, 3-3-5, pattern so holding 10900 we can go to the top end of the channel at 11260, however if we break 10900 the next swing low is at 10835, and then the low of 10780.

nd210819a

A few points lower at 64 but above the previous swing low of 62, and the red average.

swing210819

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	29111	27680-27500

Bank nifty also pulled back to test the lower end of the range and previous swing low of 27683, but may also test the falling channel at 27500 in wave b down. then wave c up may follow to 29111. Below 27500 odds may favor a further decline to 26555.

bn210819

DAX

German stocks also fell in 5 waves and doing an A-B-C counter trend bounce. Asia same thing, US holding on.

dax210819

“Indiacharts Insiders - Real Time Market Analysis As It Happens”

FIND OUT MORE

+ About Indiacharts Insiders

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Rohit Srivastava
www.indiacharts.com
For accurate market analysis. Technical analysis is a study of past data to assess future probable outcomes. It is our endeavor to discuss high probability set ups for traders and investors in good faith. 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. Readers may download the free Elliott Wave Calculator to do it themselves. 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 may have holdings 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. We have active open long and short positions in the futures/options/stock/commodity/currency 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 unsubscribe with the link below at any time.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Please do not reply to this message. email to indiacharts@gmail.com