Yesterday, I linked our markets with Euro hourly chart. Even though, as expected, the breakout happened in euro as I wrote, It could not breach 1.4412. It formed a double top at this point, and fell to 1.4333. The implication of which was seen in Markets. As you have read in m earlier posting on Euro, It is close to a major breakdown.
The breakdown point of Euro is nearing very fast now, with a clean failure in hourly chart. You may see the daily chart as attached. The breakdown point is just a kissing distance away.
Now, I am disheartened and lost hope that NIFTY will touch 5400 unless markets prove otherwise.
Looking at the Euro chart, I think we might see surprises tomorrow.
To get a the real feel, this euro chart is sufficient and hence I am avoiding the NIFTY chart today.
I will now conclude today's posting with an advice, "Safety First"
