Market Analysis With Megh Mody

USDINR 60 mins chart As per Elliott Wave analysis, prices are moving in wave c which can tumble till 70.60-70.4 levels in near term. Th preceding trend was a three wave structure (a-b-c) which was wave b and earlier to that a complex correction (w-x-y) which was wave a.  However, I have only one concern that wave b has only retraced 61.8% of the previous fall, so it cannot be a flat pattern though wave a and wave  b was a three wave structure. So the summation is the entire fall will be wave a as it can retrace 50% of the rise from 68.4 o 72.6. The bias is negative as of now for this pair. Learn Elliott Wave and Neo wav in my two day paid webinar The run time will be 12-15 hrs and the fees will be Rs. 15000/-. Classroom training is also provided. For registration call 9324174580.

MCX Copper Weekly chart In the weekly chart of Copper, prices are consolidating in a range of 400-470 (marked by horizontal lines). As far as prices persist in this range no trending move is expected in this counter. In the month of June price reversed from the support zone of the above mentioned range and is more likely to test the upper extreme of the range at 470. The immediate support will be placed at 430-420 which is the common gap support. There are high chances it will fill this gap by dipping till 420 levels and then it will reverse back up as common gap are more likely to fill. From weekly waves perspective prices are expected to move higher near till 470 where 80% of the previous fall is placed. This 80% comes to 473-476 levels as I think this will be flat pattern. From time analysis, the first fall took 30 weeks where wave a is marked from the top, in wave b which is ongoing has already taken more than 30 weeks which s one of the peculiarities of flat pattern. Thi

The below article was written on Sunday before market opened. I was continuously bullish for the index but was waiting for price confirmation. Elliott Wave and Neo wave helps you to understand the possible reversal and riding the entire trend. This is what I have captured. Learn Elliott Wave and Neo Wave in my two day paid webinar. The run time will be 15 hrs and the fees will be 15000/- rupees. In the hourly chart, Nifty has not moved above its previous high and is facing resistance of the falling trend line. It will be important to see what will be the price action on Monday. Any move above 11400 is a buy for prices to reach till 11550-11600 levels.  From wave perspective, I will continue to have two probabilities in the above chart as mentioned last week, one is prices will continue to move in a triple correction pattern (a-b-c-x-a-b-c-x-a-b-c). As of now it has only completed double correction (a-b-c-x-a-b-c). However, any move above 11400 will indicate that prices ha

In the hourly chart, Nifty is moving in a lower highs and lower lows formation is moving precisely in a falling channel. Last Friday is closed below the channel support and it is likely that it will re-enter this channel in next week.  From wave perspective, there are two possibilities in the above chart, one is prices will continue to move in a triple correction pattern (a-b-c-x-a-b-c-x-a-b-c). As of now it has only completed double correction (a-b-c-x-a-b-c). However, any move above 11550 will indicate that prices have completed double correction and have started wave iii/c higher. The summation of the above chart is, Nifty will find support near 11050-11100 levels, a bounce can soar price till .... A decisive move above ... will open further positive possibilities, if failed to cross, sideways action can be seen in a range of ..... levels.  Don't waste time and learn Technical Analysis in my 3 month long course. Starting from inception. This course will help yo

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From above hourly chart, prices are now moving in a lower high and lower low after marking a high of 4500 odd levels. The lower highs and lower lows will not favor prices to rise from current juncture.  As per wave theory, prices have completed wave b t one higher degree where the internal counts were (w-x-y) eventually flat pattern as it retraced more than 80% of the previous fall of wave a (4692- 3522). So if wave b is over wave c has already started which is an impulse in nature and can move down till 3750 levels.  The summation of the above two chart is, MCX Crude is negatively poised and can tumble near till 3750 levels as far as 4265 is protected on closing basis.  The above analysis was done on 23rd of September 2019. I had mentioned that it will come down to 3750 which it made a low today by moving down below 3750.  Learn Elliott Wave and Neo wave from us which will be a two day webinar teaching all the important concepts of Elliott and Neo wave in 15 h

Anticipated on 23rd Sept Happened In my earlier update of German DAX in which I had mentioned that wave v is pending and it will go up till 61.8 % of wave i. I am sharing the link check it out https://www.marketanalysiswithmeghmody.com/2019/09/german-dax-will-slowdown-drag-index.html I made minor change in marking wave iv that also change the target of wave v. Instead of 12600 it made high of 12500 but the last leg which I was anticipating finally happened. Once completed wave v, prices collapsed which can be seen in the above chart. Dont follow the crowd blindly learn Elliott and Neo wave from me. A two day paid webinar for over 15 hrs session and the fees will be 15000/-. For registration contact 9324174580.