NIFTY 50 future TRENDS

[deneb]

IMF puts contacts with Greece on hold

The International Monetary Fund will not return to Greece to review its loan program before Athens holds fresh elections on June 17, an IMF official said on Thursday.

"We take note that elections have been called and we look forward to being in contact with the new government when it has been formed," David Hawley, IMF deputy director of external affairs, said at a news briefing.

Without additional support, Greece may run out of money before the end of June to pay government salaries and social welfare programs. It depends on a 130-billion-euro support program from the IMF and the European Union.

But the IMF only disburses funds if a country complies with economic reforms tied to the program. The Greek public have overwhelmingly rejected the austerity measures, throwing into question the future of the IMF/EU bailout program.

The IMF official repeated the calls from its Managing Director Christine Lagarde for European leaders to reach a comprehensive solution to the euro zone crisis.

The IMF has called for four actions - strengthening of financial defenses against contagion, measures to support demand in the short term including an accommodative monetary policy, country reforms to promote competitiveness and a clear plan for euro area integration and risk sharing.

Hawley said that the European Central Bank has further room to support growth by lowering its key interest rate, given the weakening economic conditions. Growth has stalled in the euro area and several countries are in recession.

"Further unconventional policy measures could also be needed," he added.

The ECB has already bought bonds aggressively but Germany's Bundesbank has resisted cutting its benchmark rate below 1 percent or buying more bonds, insisting instead that indebted countries rely upon reform programs to rebuild market confidence in their economies.

Hawley declined to comment on the worsening stress in the European banking system, and liquidity problems at some Greek banks. Depositors have accelerated withdrawals from Greek banks in recent days amid speculation Greece may leave the euro zone.

Seems like things are about to get a whole lot worse before any faint sign of recovery.

 

[sudoku1]

Now, why are the commodities so happy suddenly ?? Has the Greece crisis disappeared or has the Greece itself disappeared ??

mare pas PEs hain ,commodities nahi PEs ke liye jisko bhi disappeare hona pare ho jaye yaar.Wase bhi yeh log to jholjhal karke pata nahi kab se baithe hain,aab jake jhol nikla to jhal(mirchi) to parega hi

hi trd. Pls comunicate in english.

 

[trdstudent]

hi trd. Pls comunicate in english.

Hello sir, i have no intention to hrt anybody by using any regional language ,neither hindi is my mother tng .In future I'll keep ur advice in mind .Thnx

 

[anup0212]

@trdstudent...yeah man I did realize this ...some how our trading style matches...anyways ....my monther tongue is hindi........keep posting ...and keep scripting...

 

[4209211]

Oyeee Satsrikaal Passhaon Kii haal soo

 

[4209211]

Be ready for 4750 on nifty spotand some 4698 on sgx nifty happy bloodbath day to allll

 

[sanjosedesi]

Yes it is extending price vice also time vice.. the EW valued till spot nifty holds 4805. Besides Wave 4 created unprecedented range bound and that makes doubt for this count to sustain finally we have to see whether the rule NO 3 Wave IV should not overlap Wave III which is at 4805.

Very likely we will open below 4800, lower than sudoku's 4777. I guess this finally invalidates this EW count. I think going forward we need a better model than elliott waves - that is - morgan waves. Morgan waves are named (by me) after JP Morgan and are a result of their billion dollar mishaps in the "hidden from any scrutiny" world markets. The result of their mishaps is in the form of morgan panic waves ... the funny thing is it leads them to recover their losses in no time. 3 months after the Morgan wave, everything is back to normal.

 

[manoharpillai]

This message Ref. to chart of rajasree1
and 4209211 your observation about market internals
The world market is in for sell off mode DOW chart is clear break down and Europe too i expect minimum of 5-7% erosion in these Markets.
As for as our market is concern 4800 and 16000 sensex physiological support Any adverse news flows will trigger further panic sell off be ready for that too
Reversal Resistance levels Nifty 4980 /5050/5180 till this levels are in place the down side is open
One step at a time approach.. let us see tomorrow Nifty trade above 4900 or not 4870/4840 could offer support and on the up side have to get through above 4920 this i mentioned during today's intra day trading.

True this could lead to any ware on the down side
on the down side possibility of (4600) recent low could be tested
Intermediate support comes at around 4750 sensex 15750 break this all the way to 15100 and 4500 respectively
Enjoy the bear party

 

[4209211]

:rofl: 4209.211 is the tgt for nifty :lol: :lol: :rofl:

Goodmorning Manohar ji

 

[timepass]

Very likely we will open below 4800, lower than sudoku's 4777. I guess this finally invalidates this EW count. I think going forward we need a better model than elliott waves - that is - morgan waves. Morgan waves are named (by me) after JP Morgan and are a result of their billion dollar mishaps in the "hidden from any scrutiny" world markets. The result of their mishaps is in the form of morgan panic waves ... the funny thing is it leads them to recover their losses in no time. 3 months after the Morgan wave, everything is back to normal.

I read your post almost immediately after reading this one (quoted below). It seems that Elliot Waves are at some sort of turning point for EUR/USD. Also heard on TV, there is confluence of supports (vix, historical levels and some others) which indicate bounceback from 4750 Nifty.

Just some thoughts.

EUR/USD Elliott Wave
Yesterday the EUR/USD pair was trading sideways. During the European session we could observe downward movement towards the 1.2680 level where this pair find support and started pushing higher. Therefore during the early New York session we could observe price around 1.2760 level. At the second half of New York session the EUR/USD start pushing lower again and this major closed Wednesday at the 1.2700 level. Today during the Asian session we could observe bullish mood and price reaching 50 EMA resistance. We have German, French and Swiss bank holiday today so I do not expect high volatility before New York start. Presently we can observe end of the 5 wave (coloured pink) of the bigger 3 wave (coloured blue) so we should be prepared for entering with long position for catching corrective 4 wave (coloured blue).In accordance with our wave rules and taking into account that the wave 4 retraces 100% of the wave 2, we can define the potential targets with measuring the 2 wave. Take Profit at 1.2918 (100% of wave 2). The resistance point at the 1.2600 level can be used as Stop Loss. Also it is necessary to consider the data concerning the U.S. Unemployment Claims, Philly Fed Manufacturing Index and Treasury Sec Geithner Speech, that can affect the rate of the pair.

Support and Resistance levels
(S3) 1.2641 (S2) 1.2670 (S1) 1.2689 (PP) 1.2718 (R1) 1.2747 (R2) 1.2766 (R3) 1.2795

Trading Forecast
Proceeding from Elliott Wave Rules this week the trend is expected to begin the upward movement. That is why Long positions at level 1.2660 with Stop Loss at 1.2600 and Take Profit at 1.2918 are recommended.

Performed by Nicola Delic, Analytical expert