Posts

Showing posts from July, 2013

MCX Copper in Double Correction

Image
 MCX Copper continuous hourly chart From the above chart, the red metal is moving in a lower high and lower low formation and it is precisely moving in a falling channel Recently the metal faced the resistance of the channel and has broken the support today which opens further negative possibilities. As per wave theory, prices are moving in double correction pattern as per the chart (a-b-c-x-a-b-c) After completing first correction, prices formed wave x close to 740 levels and now since all the important supports are broken it is very much evident that prices are poised to falter and can move below its previous low in form of wave a of second correction. The summation is prices are poised to plunge near till 680-670 levels as far as 733 is intact on the upside.

Nifty: Using Square of 9 Technique

Image
We have been accurate in capturing the move of Nifty when it whipsawed from the 5600 and later opened with a gap up which was unfilled. We captured the trend only with the help of advance technicals such as Gann analysis and its master calculator Square of 9; again we used simple technicals such as channels, retracement to predict the support and resistance for this index. Other oscillators such as Daryl Guppy has given a buy signal along with moving average of 20 EMA and 50 SMA has given a bullish crossover which opens positive possibilities for this index. As far as 5905 is protected on downside our bias continues to be positive for Nifty. Using square of 9 technique we found the date where the trend of Nifty changed which we have explained below. The below chart explains the use of square of 9. Nifty Daily Chart Analysis Nifty made a low on 10 th of April 2013 at 5477 and then it moved higher and made a high of 6229 on 20 th May 2013. To predict the fut

Nifty: Calculation through Time

Image
Nifty has completed first section and is now heading towards its second. It is always easy to remember like this to avoid confusion. As we are aware that there are only 3 section, a possibility of 4 th will either make a double top or any other formation which will help us to initiate fresh position. We have used Square of 9 technique which is a master calculator in identifying the change in trend, its swing and change of date. We have shown this in the chart where we have come to the conclusion that Nifty can rally further till 1 st Of August 2013. Also we have used speed angles to justify our self that how much price can move higher with the help of this angle. Analysis: As mentioned above after completing section 1, the index is moving in section 2 which proves that it has ample of space to rally further. Second most important thing is we have calculated Price with time again a very important indicator to foresee the change in trend. This was only possible with