Market Analysis With Megh Mody

MCX Copper daily chart MCX Copper is moving in a sideways to negative direction after discontinuing higher highs and higher lows and the rising blue channel. The red metal is directionless but has formed a classic corrective pattern recently. A price confirmation is required which can be obtained once the level of 445 is broken decisively. The level of 445 is the support provided by the rising trendline (blue), break of this trendline will drag prices lower till 430-428 levels in near term. From wave theory, prices are moving in a w-x-y pattern, in which prices can move down till 100% of wave w which is the minimum target (shown by rectangle box). It is not difficult to predict the market by using advance technical analysis, but it is difficult to understand advance technical analysis.  All you need to do is mail me at  meghmody@gmail.com  and subscribe to my two day paid seminar. In these two days you will learn the concept of Elliott Wave and Neo wave, ...

MCX Zinc daily chart MCX Zinc has changed the long term trend from negative to positive. This metal will be out performing all other base metals in coming months. Why? To know the answer, I have marked my wave counts on the above chart. Let us understand why it is a buy on dips? Prices are moving in wave iii which is undoubtedly extended pattern which means wave iii is subdivided into five and can be identified with naked eye. In extended wave iii wave ii of wave iii took 24 trading sessions and was a running flat pattern, more of a sideways pattern. So it is likely that wave iv of wave iii will be steeper and can move down dynamically which has to be less or more than 24 trading sessions. Most likely less. To confirm that this is an impulse prices don't need to move down below 203 levels which will negate the rule of impulse as wave iv will enter the terrain of wave i. So the ideal support is between 210-207 levels and thereafter prices are expected to soar which I...

USDINR daily chart USDINR has been continuously depreciating from past two months. after making a high of 71.9 in the month of February 2019. However, the depreciation will not intensify and there are high chances for prices to reverse in coming weeks. After completing wave a in flat pattern, prices are moving in wave b which is an irregular flat pattern. In which wave b dipped below the start of wave a and completed at 68.34. Currently prices are moving higher in wave c. This wave c can go higher till end of wave a. It is likely prices can move up till 72 levels in near term as far as the level of 68.4 is intact on the downside. It is not difficult to predict the market by using advance technical analysis, but it is difficult to understand advance technical analysis.  All you need to do is mail me at  meghmody@gmail.com  and subscribe to my two day paid seminar. In these two days you will learn the concept of Elliott Wave and Neo wave, combination of pri...

MCX Silver daily chart MCX Silver is been under performing from past one month, but it seems that the negative momentum is on the brink to halt and prices can reverse any time soon. I have used Elliott Wave Analysis to understand a possible reversal in price of Silver. From the top wave c is marked, prices tumbled in impulse which I have marked as (i-ii-iii-iv-v). In wave v there is a expanding diagonal pattern which is shown in the chart marking as (i)-(ii)-(iii)-(iv)-(v) an overlapping structure. RSI on daily chart is exhibiting positive divergence. All these indicators are suggesting price reversal. The bullion can test the level of 37500 in near term, any sustainable move above 38000 will open further positive possibilities which can take prices higher till 38500 levels over medium term. It is not difficult to predict the market by using advance technical analysis, but it is difficult to understand advance technical analysis.  All you need to do is mail me at...

MCX Copper 60 mins chart MCX Copper in hourly chart is hovering near to the resistance of the rising channel. This opens the possibility that prices can correct from current levels which can drag prices lower till support of the channel. From wave perspective, prices are moving in an impulse fashion (i-ii-iii-iv-v). It seems it has completed wave v and it is set to move down in wave a of one higher degree. In short, MCX Copper is expected to tumble in-between 455-453 levels over short term with resistance placed at .... It is not difficult to predict the market by using advance technical analysis, but it is difficult to understand advance technical analysis.  If I can do it, you can also do it. All you need to do is mail me at  meghmody@gmail.com  and subscribe to my two day paid seminar. In these two days you will learn the concept of Elliott Wave and Neo wave, combination of price and time, how to anticipate, tools required to anticipate the rise and f...

SBI 60 mins chart Anticipated on 8th February 2019 SBI 60 mins chart Happened on 14th February 2019 In my previous update I had mentioned that, "SBI is consolidating in a sideways pattern mainly in a range of 285-300 levels after a dynamic fall from 307 to 276 levels. Short term moving averages 20 EMA (red) and 50 SMA (blue) have given a bearish crossover which is a negative sign. From wave perspective, currently …. formation is in making which will end up in a running flat pattern. If it is true the post implication will be dynamic dragging prices way lower. This wave structure helped me to foretell the dynamic fall before it happened. Prices tumbled from 285 till 265 levels which was anticipated by me, giving a return of over 7% within time of a week. Now what is the next trend forming in SBI we will see as the wave progresses. If I can do it, you can also do it. All you need to do is mail me at meghmody@gmail.com and subscribe to my two day paid semin...

USDINR Daily Continuous chart USDINR is currently hovering near the resistance of the falling trend line. However, the short term moving averages have given a bullish crossover after two months from its previous crossover. It is important for prices to move above 71.50 levels for further positive possibilities which can push prices higher. Any sustainable move above 71.5 will make price surge near till 80% of the previous fall which is placed at 73.6 levels. RSI has exhibited positive divergence. Wave theory suggests that, prices might have completed wave a in three wave structure (a-b-c) at 69.2 and is now moving higher in wave b which can be close to the above mentioned level. In short, USDINR will surge till 73.6 levels over short to medium term once the level of 71.5 is taken out decisively. After 71.5 is crossed the support will be placed at 70.90 level. Learn Elliott Wave and Neo Wave to forecast prices in various asset classes. Subscribe to a two day paid on...