Jai Ho! Nifty reached 4800!

Jai Ho! Nifty reaches 4800! (Thanks to Vidhan for the catchy comment) This is a moment of elation for all those who believe in Elliott Wave Analysis, and how one can use it to profitably trade the financial markets. I think I did 5 posts in all about the Nifty, starting with this one: Dec 14, 2010 update and then pin pointed that once we break below 6069, we are all set. See this link..If you really benefitted from these examples, maybe you can tell as many of your friends as possible about Wave Times. I really believe that by sharing what we have, especially if it is information and knowledge, we are doing our bit to make this world a better place. Best wishes, and to all my Indian friends, Jai Ho!

Crude Oil Outlook

Hello folks, It has been a busy few weeks as I was spending all my evenings putting together my book. Almost done, now! Between, I noticed that Crude Oil came quite close to the target of $71. Remember we have been bearish on this from the time it was around 110? (when some leading investment banks were calling it to $150).

The outlook for Crude Oil in the near term is for a failure between 88.10 and 89.50 and come down once again. Hopefully, this time we will reach the target of 71 levels. Stops should be placed on two closes above 89.80 Take a look at the attached chart and stay tuned for the announcement regarding the book!

New Zealand Dollar NZD Kiwi outlook

It’s been a long easy (!) road for the New Zealand Dollar, the currency that Forex traders know more affectionately as the Kiwi. But it is increasingly looking like the honeymoon is over.Take a look at the attached chart of the NZD that gives you an Elliott Wave Analysis of the currency. The New Zealand Dollar embarked on its journey back in 2009 from around the low of 0.4900 and it peaked on Aug 1st as 0.8840. That is an 80% appreciation, and I am sure exporters of the tasty butter and soft wool and healthy lambs must have been hurting all along.Well, your troubles are probably over, because over the next few months, we should come off to 0.7970 initially, and shortly thereafter to 0.7760. Further out, we will see a continuation of the decline down to 0.7170 area. Some of the unwinding could happen with a reversal in Gold, and also a decline in the price of Oil. Commodity currencies should generally suffer in the process. But enough of the fundamental stuff. You already know my views in Oil – it will go down to around $71. So let us look at the outlook for NZD, or Kiwi.
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