Nifty Bi-Monthly Chart 1996-2015 : An Update

Nifty Index is being compiled since 02/07/1990 ; as such, a Time Frame of Bi-Monthly (Open, High, Low & Close over a period of two months for the Index) cover the full range of the Index since inception , starting August 1990 & ending on today,  in 151 candles is shown herein.

MACD (5,34,5) is not available for the first 39 candles due to default Data requirement. As such, using a zoomed view over last 117 candles fulfilling the minimum requirement :

I am sharing crucial Macd (5,34,5) data  for certain days (inclusive Milestone numbers ) ; IMHO in these higher degree Elliot Wave , Nifty had done its peak for the time being as shown by a higher Nifty with lower Macd readings.

Next candle with closing at/over 9482 shall result in the histogram being rendered positive  or we may to wait longer. 

Silver - $/Oz : Fortnightly Chart

After a life time high in 1980's , Silver remained in bear grips over a long period.

Over the last 15 years, I observed there appears a ABC pattern in weekly chart ; as its retracement from last high of 49.79 is best to be viewed in a fortnightly chart. Accordingly, I had sourced the weekly Data from NetDania.com to an excel file & there after created a fortnightly . Here is the resultant chart with Macd (5,34,5) :

 
IMHO, Silver looks at the fag end of (B) & likely to get support from TL from 5.52-8.41 ; let us watch for termination . (C) wave is estimated to give a minimum of  61.8% of (A) { 27.97 } to a very higher value in the next up move.

Here is a closer views in a 150 candles from same Data : a wedge & double bottom is being observed.