3 Steps To Beat The Nifty




Thursday, 26 April 2012

Dow Jones 15 Min Chart

Dow Jones Industrial Average:


The Dow Jones Industrial average has been into a long uptrend since early October, 2011. There seems to be some consolidation in the index in the recent few days and the following are what we feel about the movements of the index in the near term.
There is no Wolfe Wave pattern observed in the EOD charts. As far as Camarilla levels are concerned, the index is hovering between the monthly L3 and L4 levels. Unless any of these two levels are broken, a trend cannot be established. However, our proprietary indicator shows a bullish signal which might take the index higher.

Dow Jones EOD ChartAs of intraday charts, the index has a sell signal, which indicates some further  drops in the next few sessions. No Wolfe Wave patterns have been observed and the index is  facing resistance at the weekly H3 zone. Keeping both EOD and Intraday factors in view, some further downside is expected in the next few sessions.
As per Gann studies, we can expect a change in trend between 27th April 2012 and  2nd May 2012 , or within 27 to 30 trading days counted from the 2nd of April, 2012.


EURUSD:


EURUSD EOD Chart
Neither any Wolfe Wave patterns nor any Camarilla trading opportunities have been seen on the EURUSD forex charts. The pair is standing in between the monthly L3 and L4 levels and we can only determine the trend once any of these levels are broken. We may consider the pair to be mildly bearish due to the presence of the sell signal on the charts.
Gann analysis predicts that the 3rd of May, 2012 or 30 trading days counted from the the 3rd of April, 2012 are very  significant dates in terms of trend reversals. However, the 5th of May, 2012, 13th of May, 2012, 15th of May, 2012 are also important.


Gold:


Gold EOD ChartThe precious metal is up on a rise in the next few days. As already forecasted, the metal has shown some positive moves in the last few sessions. With a strong bullish position right above the H4 level and another bullish buy signal on the charts, Gold prices are expected to shoot higher. No Wolfe Wave patterns have however been observed.
the 30th of May, 2012 is a very significant date in terms of reversal of trend as per Gann studies.



S&P CNX Nifty:

Nifty 15 Min Chart
The Nifty has shown some interesting signals recently. Intraday charts for the index seem to be bouncing at the 5th point of a Wolfe Wave that has recently developed. This, along with a buy signal on the charts forecast a bullish move in the next few sessions. The Camarilla position is though not very clear as per current levels. With respect to the Wolfe Wave, we can expect the charts to touch the 1 - 4 line in the coming days.


Nifty EOD Chart
EOD charts have however touched a Wolfe Wave target recently and are weak at the moment. A prominent downtrend is visible which is facing some support at the monthly L3 Camarilla level. A sell signal also depicts some further weakness.
Gann studies depict that the 57th trading day counted from the 22nd of February, 2012 and the period from 7th May 2012 to 10th May, 2012 is very significant in terms of reversal of trend.




Commodity Beat - Gold Price Forecast

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