Gold – Will it glitter again with fall in Equity markets

As the Indian equity markets have been in a frenzy and global markets are also witnessing aggressive selloffs, it will be interesting to see if investors turn towards gold for a safe haven.  Rise in gold prices can also be attributed to the depreciation of INR since they are inversely correlated. In our daily commodity report published on 7th February 2018 we can see how flawlessly on hourly scale prices are moving within the upward sloping channel.

Is it time to turn to Gold again?

Look at the below chart of Gold from “The Commodity waves short term update” a daily research report

Gold 60 mins chart:

Elliott Wave analysis:

Below had been published in today’s morning research report

Comex Gold has managed to protect its previous low of 1323 levels. As long as this level is intact trend remains positive.

As shown in daily chart, prices are near its channel resistance. Post making a high near 30800 levels prices are moving sideways. As long as 50 periods EMA is maintained at 29577 levels trend remains positive over medium term.

As shown on hourly charts, prices are hovering near its channel support trendline. It will be interesting to see if it manages to protect this level. Break of previous low of ….. levels can infuse selling pressure over short term which can take prices towards … levels or lower levels. Break above 30300 levels will ensure revival of up trend.

In short, Gold is impulsive. Break of the levels mentioned will provide trading opportunity.

There is a possibility that the asset which has been out of flavor for so long can start gaining attention as the global equity market turmoil starts. Is it time to switch the asset from Equity to Gold?

Subscribe Now “The Commodity waves short term update” and see yourself the power of impulsive pattern on Gold, Silver, Crude and Copper. Get access here.

Identifying Impulse pattern is the key to trade successfully. Would you like to learn how to identify such patterns that can help from trading strategy across Nifty, Bank Nifty, stocks, Gold, commodities and more? Register for the upcoming event on 10th and 11th March and learn how to apply technical analysis from 5 minutes to daily charts… For more details visit here

Nifty collapsed with Global markets, What is next?

Nifty crashed more than 390 points on intraday basis after the collapse on DJIA and global markets. Everyone is busy finding reasons to selloff but Elliott wave helped us to trade on short side well before this happened.

After the sharp decline with no major event globally, many are busy justifying the selloff and talking about yields tightening. But how does it help after the selloff happened?

Is there a way to catch such reversals, absolutely “YES”. Look at the below chart of Nifty when we marked a top is in place.

Also in my latest webinar last Friday 2nd March 2018 I mentioned Post Budget we might be topping – watch the webinar here

Now also look at the below chart we showed

Nifty 60 mins chart – Anticipated on 2nd February 2018 morning research report

Nifty 60 mins chart: Happened

Following was mentioned in morning of 2nd February in daily equity research report –

In short, it seemed to be a populist Budget like everyone expected but introduction of Capital gains is going to result an impact which is not yet discounted maybe due to artificial support. Trade carefully as the swings can still be big over next few days! Move above 11120 is must to resume the positive trend else break below 10878 will be strongly bearish!

Following was mentioned in morning of 5th February in daily equity research report –

In short, trend for Nifty remains firmly negative as long as 10880 is intact. Keep riding the trend using trailing stop method and the positions are already in the money that shorted on break of Budget low. Such sharp trends are rare but market did provide us with warnings before reversing. Let us see how far it goes from here! BANG ON!

Happened: Nifty collapsed along with global markets and now everyone is talking how we recovered from the lows. Our clients subscribed to daily morning research reports were already warned and asked to short as you can see above. We have been giving sell calls over past few days in our daily stock tips and advisory.

Movement of Nifty is no surprise for us and volatility was supposed to increase. So what is next from here? Did we form a short term low? Or Is it just the beginning of a bigger downtrend?

“The Financial Wave short term update” is our flagship research report consisting of views on Nifty, Bank Nifty and stocks. Subscribe now and see where we are headed from here on. Visit Pricing Page

Attend the Most Advanced Training on Technical analysis and application of Elliott wave, Neo wave, Hurst’s Time cycles on charts right from 5 minutes to daily and weekly. Also learn the power of forecasting and trading that helped to catch a BIG reversal this time as well. Only a few seats left. Register now and get free research reports until 15th February 2018. Know more

Nifty crashed post Budget? Is a top in place?

#Nifty has shown sharp reversal post #Budget2018. In this webinar I will discuss latest #Elliottwave pattern, technical analysis on #Nifty, #stocks and much more. Visit https://www.wavesstrategy.com for detailed research and stock tips, commodity tips, currency tips

Nifty crashed post Budget? Is a top in place?

#Nifty has shown sharp reversal post #Budget2018. In this webinar I will discuss latest #Elliottwave pattern, technical analysis on #Nifty, #stocks and much more. Visit https://www.wavesstrategy.com for detailed research and stock tips, commodity tips, currency tips

How to do trade Nifty post Budget?

Nifty had a volatile movement today and it was much eventful as expected. We were expecting a move of around 170 points anyways and mentioned that in our morning research report. We also pointed out that Capital gains can result into negative surprises!

Interestingly after the long term capital gain announcement Nifty reacted sharply lower and touched intraday low near 10879 but recovered back sharply towards 11117 levels before finally closing near previous close. On previous occasions as well we have seen similar behavior where prices will gyrate all over the place but settles where it opens!

Food for thought: Despite such huge negative news there was a strong recovery which seems like a planned action after the event. It is just a speculative idea but government would have expected a collapse if markets are not supported post introduction of capital gains.

Let us look at the below chart of Nifty and we were expecting during the day with the upside target given clearly today morning!

Nifty 60 mins chart: as per chart published on 1st February 2018 before markets opened

Happened as of 1st  February 2018 post Budget

Following is a gist of the research published on 1st February 2018

Elliott Wave analysis:

Anticipated– “Over past we have seen that Budget acts as reversal of trend atleast over short term. This time it is little tricky as over past two days we are seeing a correction and looking at that there can be minor positive reversal which can result into retest of highs around 11130 levels on upside. On downside 10920 can act as an important support. Also past data shows that between highs and lows we have seen an average movement of around 170 points. So going by that logic there is possibility that we can see a move towards 10970 – 10940 and then a pullback towards 11130 levels…..As the fall of past two days is overlapping without any momentum we might see positivity or at least a retest of 11120 levels.

Happened : Nifty moved precisely as expected. On downside the projection did overshoot because of the long term capital gain but then the buying was seen precisely towards 11117. We cannot be more accurate than this on an event day. Prices moved lower and then rallied to retest the levels mentioned in the morning research report.

So what is next from here?

The above research clearly highlights power of Elliott wave. You can subscribe to “The Financial waves short term update” our flagship research report containing Nifty, Bank Nifty and stocks using not only above but many more methods of forecasting. See yourself how this is helping our existing subscribers. Subscribe NOW!

Learn the above methods – You now have the opportunity to learn these methods. I will be providing detailed explanation right from 5 minutes chart for intraday traders to weekly charts for investors and showcase the power of technical analysis. Imagine the power when you combine them along with Time cycles as well! Also see how these techniques can be applied practically on charts of Equity, Commodity, Forex, Bitcoin, Mutual Funds and much more. Know more here