Elliot wave USDINR tgt 71 - 74 Extreem case 81.85

Silver Bear Flag Pattern Formation Expected target 45000 CMP is 49300

Silver Bear Flag Pattern Formation Expected target 45000

GOLD and SILVER and USDINR Bullish uptrends to start ... BUY BUY only

HELLO FRIENDS.  ::  BUY GOLD  30000 CMP & SILVER 49000 MCX RATES :: Bottom in gold is seen at 28500 not expected much down ,, bottom is laced.. sustain above 30500 tgt 35500 - 39000 soon 3 months,, Silver CMP is 49000 support @ 48000 - 47500 not loking to trade below same ... tgt 60000 - 65000... USDINR CMP is 62.8 tgt 65 - 68 soon ... 

NIFTY intrday Bear flag patter breakdown is expected at 5970 expected target 5765

NIFTY forming Bear Flag Pattern Formation in intrday chart from Fridays high @ 6155 to 5950 ; where Pole difference is 205 points and is expected to give breakdown @ 5970 : if sustain trading beiow 5970 for 10 - 15 min will test 5950 amd will retest 5970 - 5975 lvl and continue the bear trend where i am looking at 5765 in near term.... ressitance and stop of 6050 is advise...

CMP is 5984 @ 9.54 am. 

USDINR Elliot wave formation expected target of 75.2 - 82.8

USDINR Elliot wave formation expected target of 75.2 - 82.8

Bull Flag Pattern Formation in USDINR with Base @ 58.65 & 60.4 ...

Bull Flag Pattern Formation 
Base @ 58.65 and 2nd Base @ 60.4
Point D expected to test at 65.15 and reversal is expected fome the support level of 65, if reversal is seen from 65 will try to test 68 level which will be point E and expected Breakout l Level.
Height of the pole 1 is 10.5 & Height of the Pole 2 is 8.75
Expected Breakout @ 68
Target expected - 76.75 - 78.5

Nifty Topout @ 5700 - 5720 a-b-c Pattern formation. Expacted Target 4700 in near term

Nifty looking at the chart is making a formation of A-B - C where point C has retraced by 61.8% retracement of A-B, if this resistance of 5720 is holding then will give a good reversal in market where on lower side 100% expansiion which comes to 4700 is expected to test soon in near term.

India slips to 60th rank on competitiveness. Sep 04, 2013, 11.23 AM IST

Releasing the annual Global Competitiveness Report 2013-2014, Geneva-based World Economic Forum (WEF) today said highly innovative countries with strong institutions continue to top the rankings.

India has slipped to 60th position in terms of its competitiveness globally, while Switzerland has retained its top rank. This is India's lowest ever rank and also 31 places below its peer emerging market China.

Releasing the annual Global Competitiveness Report 2013-2014, Geneva-based World Economic Forum (WEF) today said highly innovative countries with strong institutions continue to top the rankings.

While Switzerland is on top for fifth year in a row, United States has reversed its four-year downward trend to occupy 5th position and Japan has risen to ninth place.

Singapore and Finland remain in second and third positions respectively, while Germany moves up two places (4th). Two other Asian economies, Hong Kong SAR (7th) and Japan (9th), also feature in the top ten of the rankings of 148 economies.

On India, the report said the country continues to be "penalised" for its very disappointing performance in the basic drivers underpinning competitiveness, the very ones that matter the most.

"The country's supply of transport, Information and Communications Technology (ICTs), and energy infrastructure remains largely insufficient and ill-adapted to the needs of the economy," it said.

The WEF report further noted that "notwithstanding improvements across the board over the past few years, very poor public health and education levels remain a prime cause of India's low productivity".

Meanwhile, among Asia's developing nations, Malaysia is the most competitive (24th). At 29th, China remains by far the best of the four largest emerging market economies, ahead of South Africa (53rd), Brazil (56th), India (60th) and Russia (64th).

The gap between China and India has widened from just eight places in 2006 to 31 today. Indonesia jumps 12 places to 38th, making it the most improved G20 economy since 2006.

Asia is also home to some of the world's least competitive economies, including Bangladesh (110th), Nepal (117th) and Pakistan (133rd), which drops for the third year in a row.

Bhutan (109th), Lao PDR (81st) and Myanmar (139th) join the index for the first time.

Among European economies, Sweden (6th), the Netherlands (8th) and the United Kingdom (10th) have fallen. "Innovation becomes even more critical in terms of an economy's ability to foster future prosperity," World Economic Forum Founder and Executive Chairman Klaus Schwab said.

Schwab further noted "the traditional distinction between countries being 'developed' or 'less developed' will gradually disappear and we will instead refer to them much more in terms of being 'innovation rich' vs 'innovation poor' countries."

It is therefore vital that leaders from business, government and civil society work together to create education systems and enable environments which foster innovation, it added.

Nifty Elliot wave pattern formation looking at 4850 - 5000 immidiately

Reliance A-B-C Pattern formation Expected target of 704 - 641

Reliance is forming A-B-C pattern formation and has retraced by 76.4% of the fall and is showing a confermation of reversal and on lower side expected target comes to 704 which is 121% of A-B from point C and further trading below 700 will bring to 641 which is 161.8% expansion of  A-B form C.

USDINR Elliot wave Pattern Target of 73.2 - 79.5

USDINR (Rupee) after the breakout above 54.5 which was symmetrical triangle pattern has given a sharp upside move where it has also shown the formation of the Elliot wave pattern. Currently it is trading in the wave five after testing the lower support of 55.7 Spot and is showing sigh of reversal. If recent support of 55.7 is holding then wave five will either test 100% of wave I which can test the level of 73.2 per$ and further if sustain above 73.5 is seen then my next expected target is 79.5 which is series rise from 100 – 142 – 185 where 185% rise is expected. Looking at the working shown below 185% comes to 79.5 per $ spot market in near to medium term.

Some fundamentals which will support the expected target of 79.5 $ are as follow.

            1: Expected Oil price to test 153$ from Current price of 114$ per barrel can check Blog update on 9^th Aug 13

            2: Fall in Financial Market where Nifty is expected to test 4500 soon which will bring outflow of FII.

            3: Expecting some Debt Default coming soon, this will hit Banking sector soon.

 

 

Principle of Elliot wave explained

 

Basic Sequence

There are two types of waves: impulse and corrective. Impulse waves move in the direction of the larger degree wave. When the larger degree wave is up, advancing waves are impulsive and declining waves are corrective. When the larger degree wave is down, impulse waves are down and corrective waves are up. Impulse waves, also called motive waves, move with the bigger trend or larger degree wave. Corrective waves move against the larger degree wave.

 

Three Guidelines

There are numerous guidelines, but this article will focus on three key guidelines. In contrast to rules, guidelines should hold true most of the time, not necessarily all of the time.

Guideline 1: When Wave 3 is the longest impulse wave, Wave 5 will approximately equal Wave 1.

Guideline 2: The forms for Wave 2 and Wave 4 will alternate. If Wave 2 is a sharp correction, Wave 4 will be a flat correction. If Wave 2 is flat, Wave 4 will be sharp.

Guideline 3: After a 5-wave impulse advance, corrections (abc) usually end in the area of prior Wave 4 low.

Three Rules

Believe it or not, there are only three rules when it comes to interpreting Elliott Wave. There are many guidelines, but only three HARD rules. These are unbreakable. Guidelines, on the other hand, are bendable and subject to interpretation. Furthermore, these rules only apply to a 5-wave impulse sequence. Correction, which are much more complicated, are given more leeway when it comes to interpretation.

Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.

Rule 2: Wave 3 can never be the shortest of the three impulse waves.

Rule 3: Wave 4 can never overlap Wave 1.

USDINR trading Call Support @ 65.5 tgt 70 again and 74 - 78

Yesterday buy call in USDINR @ 66.5 CMP is 67 tested tgt 3 ,,,,

* USDINR MCX BUY @ 67.00 STOP @ 66.85 TGT 67.15 67.25 67.35 - 9/3/2013 9:15


Market has tested support of 65.5 support now makret will revert from here and slowely will test 70 again and then 74 - 78 in near term,.. taking diwali for 78 lvl,., Gold is again a buy ,, Silver and Gold both will rock...

10 main reasons which are responsible for the Indian rupee

10 main reasons which are responsible for the Indian rupee -- which has depreciated as much as 16 percent this year -- to touch new lows each passing day:

-Widening Current Account Deficit: This is resulting in creating more actual as well as speculative demand for the dollar and other convertible currencies.

-Policy Inaction: Perception of lack of clarity on policy front is also fanning speculative demand wherein the Reserve Bank of India (RBI) on one day said it will tighten liquidity and on yet another said it will inject $1 billion in the market.

-Low Forex Reserves: India's foreign exchange (Forex) reserves are enough to cover imports of seven month only. The forex reserves have declined in the recent months. Due to low reserves, the RBI can't intervene aggressively in the currency markets.

-Economic Growth Slowdown: India's gross domestic product (GDP) growth fell to a decade low of 5 percent in 2012-13. The situation is unlikely to improve much this year. Foreign investors are pulling money out of the Indian markets due to slow growth.

-Dependence on Foreign money: India's current account deficit was financed by foreign money for the last many years. Withdrawal of money by overseas investors is leading to the weakness in the rupee.

-Recovery in the US: The slow but steady recovery in the US is making the greenback stronger against other currencies.

-Stimulus Withdrawal: Indications that the US may withdraw or ease the fiscal stimulus package that has been on since a few years ago to tide over the economic crisis there, could potentially put the brakes on funds for developing economies.

-Capital Controls: The decision by the Reserve Bank and the government to impose temporary restrictions on capital flows has not gone down well with the markets, as it will not only discourage Indian companies from investing abroad, but also foreign firms from pumping money into India.

-Trends in other markets: The rupee is also following the trend seen in the currencies of other emerging economies such as Brazil, Indonesia, Russia and South Africa.

-Speculative Trading: Speculative trading in the currency markets is putting further pressure on the Indian rupee.

Aug. 31, 2013, 4:06 p.m. EDT Obama to ask Congress to approve strike on Syria President: U.S. can’t turn a blind eye to chemical attack on civilians Stories You Might Like Putin rejects U.S. claim on Syria chemical attack Unlikely allies in Congress question Syria moves Obama: will seek congressional approval for strike

Reuters

As Vice President Joseph Biden listens, President Barack Obama says he has decided the U.S. should strike Syrian government targets in response to a deadly chemical weapons attack, but would seek congressional approval of any military action.

NEW YORK (MarketWatch) -- President Barack Obama on Saturday said he has decided that military action against Syria is necessary, but will seek congressional authorization on the use of U.S. force to retaliate for what he called “the worst chemical weapons attack of the 21st century.”

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Obama: Ready to act against Syria, but will seek authorization

President Obama said he favors taking military action against Syria for the alleged use of chemical weapons against its own people, but he will seek authorization from Congress before acting.

“After careful deliberation, I have decided that the United States should take military action against Syrian regime targets,” Obama said in a speech in the White House Rose Garden.

Obama said he believes he has the legal authority to order the strikes without consulting Congress.

“But having made my decision as commander-in-chief based on what I am convinced is our national security interests, I’m also mindful that I’m the president of the world’s oldest constitutional democracy,” Obama said. “I’ve long believed that our power is rooted not just in our military might, but in our example as a government of the people, by the people, and for the people. And that’s why I’ve made a second decision: I will seek authorization for the use of force from the American people’s representatives in Congress.”

Congressional leaders have said they would schedule a debate and then a vote on the use of military force against Syria when lawmakers return from their current recess, Obama said. Unless congressional leaders call back members sooner, the House and Senate are scheduled to be back at work on Sept. 9.

Speaking hours after a United Nations weapons inspections team left Syria, Obama said the Aug. 21 attack that the U.S. contends killed 1,429 people, including at least 426 children, represents a national security risk, and poses a risk to nations bordering Syria, including Israel.

“I know well we are weary of war,” Obama said in the televised speech. “That’s why we’re not contemplating putting our troops in the middle of someone else’s war. But we are the United States of America, we can not and must not turn a blind eye to what happened in Damascus,” he added.

Reuters

House Speaker John Boehner

“We are glad the president is seeking authorization for any military action in Syria in response to serious, substantive questions being raised,” said a joint statement issued by Republican House leaders including SpeakerJohn Boehner of Ohio and Majority Leader Eric Cantor of Virginia.

“In consultation with the president, we expect the House to consider a measure the week of Sept. 9. This provides the president time to make his case to Congress and the American people.” the statement added.

In the Middle East, the Arab League has scheduled an urgent meeting for Sunday to discuss the Syrian situation.

Many Middle Eastern nations, assuming the U.S. will launch military strikes on Syria, are advising their citizens to leave the country.

Obama would be the second Western leader to ask his legislature to approve military action against the Syrian government, which has been embroiled in a civil war for more than two years.

On Thursday, Parliament rejected British Prime Minister David Cameron’s call for action against Syria. 

Kate Gibson is a reporter for MarketWatch, based in New York.