Some of my forecasts

[4xpipcounter]

Gold

The recent strong move south that happened a couple of weeks ago was stopped dead in its tracks at the daily UP TL. In essence, it has planted the market in a more neutral point in the UP channel. The weekly is still at an extreme, and the weekly and monthly are both indicating it wants to head south. 1767 is a strong confluence between the daily kijun and where the TL is currently at. A daily finish below that, and the longer term objectives whould be met thereafter.

 

[4xpipcounter]

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I called the move last week on Swissy when it got plundered. I also called the move for today's .8535 to be hit. But, I'd be lying if I said I called a 1,000-pip move in one day.
This one point should be made. After the strong move to the mid-.7000's, a very strong trifecta was working. It is the type of showing that is earmarked for a long term position, as long as you have the capital to support any strong moves against it. Quite frankly, I don't have the stomach to stand anything like this. I woke up and saw this and thought I was dreaming.

SJD, thanks for your correction. I think you were the one that got me on that the last time I messed up on that (Referring to Bank Nifty). You're right. I have NSE Nifty, but not Bank Nifty.

Hi Paul, I saw some unusual moves on Swiss Frank (saw the news), and I see that you did comment on this, but would you be able to provide charts for this for me to see this myself. I do not have currency charts or feeds and hence the request.

 

[sanjosedesi]

SJD, thanks for your correction. I think you were the one that got me on that the last time I messed up on that (Referring to Bank Nifty). You're right. I have NSE Nifty, but not Bank Nifty.

Thanks for the chart. But no, I do not recall talking about Bank Nifty before.

 

[tradetogain]

paul,
your take on reliance is brilliant,as usual.
can you please give your monthlies on reliance.
thanks a lot

 

[4xpipcounter]

Reliant 921 857 819 746 711 -641

TTG, there's the monthlies, Reliant is getting ready to reverse. My views are coming on it

paul,
your take on reliance is brilliant,as usual.
can you please give your monthlies on reliance.
thanks a lot

 

[timepass]

Reliant 921 857 819 746 711 -641

TTG, there's the monthlies, Reliant is getting ready to reverse. My views are coming on it

Sure it's going to reverse. I have posted somewhere herein that since last 2-3 years, even nifty reverses after reliance climbs up. Can you quantify it using charts ? Reliance vs. Nifty I mean.

 

[4xpipcounter]

Reliant Industries

There is such a huge cluster of major events around the MR1 at 857, it is amazing. Simply put, there is not enough steam left in the tank to make it through that area. Upon hitting 842, this market is signaling the fact it has approached an extreme channel reading on the daily. The MR2 is also the bottom of an extremely bearish and fresh daily cloud. The reversal is going to be explosive. We will need to watch the nature of this reversal in order to determine the future of this market. The monthly is still showing a potential drop to 636. The weekly is showing signs it wants to go higher. The area of 799--776 should prove to be a key area. If it holds, then expect for 857 to eventually get taken out, and for the DOWN to possibly be over.
All that is confirmed for now is the imminent reversal.

 

[tradetogain]

hi paul,
can we have your take on crude at current level.
it has been a sharp move in the past couple of days.
i am looking for a shortside play .
thanks a lot

 

[NANDAMAD]

Thanks for the chart. But no, I do not recall talking about Bank Nifty before.

Sir, I had requested for bank nifty and gold . Thank you so much.

 

[4xpipcounter]

LOL, Timepass. I got a chuckle out of your post. Even Nifty reverses after Nifty climbs up. I know what you are getting at.

Nifty and DJIA have a mathematical relationship, but it is more subtle than forex. Nifty and DJIA are represented by a sum of its parts, as opposed to a product of its selected parts. So, if Nifty had a strong move either way, then the sum of all its parts totaled that same direction, even though it does not mean all its markets moved in that same direction.
Having said that, it stands to reason that as a rule, after a strong move on the part of Reliant that Nifty would probably be ready to reverse, because Reliant is also getting ready to reverse.
Still, this is a point I adhere to. When it comes to a trading decision always consider that market separate unto itself.

Coming up next, the charts.

Sure it's going to reverse. I have posted somewhere herein that since last 2-3 years, even nifty reverses after reliance climbs up. Can you quantify it using charts ? Reliance vs. Nifty I mean.