NIFTY VIEW 10-08-2009

NIFTY WEEKLY CHART

Nifty is in the range of 700 points between 4000 to 4700 any move eitherside will give quick 700 points move on NIFTY. Nifty may consolidate between this levels. Now it requires very strong triggers to get pass the 4700 strong resistance. If Nifty manages to pass 4700 decisively then we could see 5400 on Nifty quickly. Now negative factors which may impact the current uptrend are SWINE FLU & Monsoon woes which are getting bigger day by day. Now we need to wait & watch till Nifty gives strong buy signal or Go long on Nifty only if it crosses decisively 4700.

NIFTY Intraday Call Service

1. 1-2 Intraday Call on Nifty Future.
2. Strict Stop Loss.
3. Profit booking or Exit Call.
4. Subscription Fee Rs.3500 per month.
5. Starting from 1st August 2009.
6. For Subscription Contact 09423650170 or marketgyaan@yahoo.com

For Subscription Contact:-

09423650170

marketgyaan@yahoo.com

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"IMPORTANCE OF USD INDEX"

USD INDEX EoD Chart

The above Chart is of USD Index. In Early March the USD index topped out which trigerred the massive rally in GLOBAL EQUITIES. Now the Daily Chart USD Index is showing some signs of bottoming out.RSI is making higher lows while prices are making lower lows which signals that USD is in process of bottoming out or consolidating before notching upward. If USD bottoms out and starts moving (Which will happen soon based on technical indicators) up will impact adversely the GLOBAL EQUITIES. Small to Medium term correction could be trigerred in GLOBAL EQUITIES. Also All GLOBAL INDICES are trading near major resistance which will act as strong barrier for all GLOBAL INDICES.

Now why we are giving so much importance to USD Index???

The answer is in past USD Index has inverse co-relation with EQUITIES.

In Early March the USD Index topped out (Highlighted with BLUE Circle) & at the same time Massive Rally started in GLOBAL EQUITIES. Now according to ELLIOTT WAVE USD Index ended 5 wave corrective phase & Equities may be in its 5th wave.

NIFTY Intraday Call Service

1. 1-2 Intraday Call on Nifty Future.
2. Strict Stop Loss.
3. Profit booking or Exit Call.
4. Subscription Fee Rs.3500 per month.
5. Starting from 1st August 2009.
6. For Subscription Contact 09423650170 or marketgyaan@yahoo.com

For Subscription Contact:-

09423650170

marketgyaan@yahoo.com

marketgyaan@gmail.com