Monday, 1 September 2014

Update on Agri Commodity









Soyabean




Panic continueeee and made a low of 3275. We recommended fresh selling below 3430 mark for the downside target of 3330---3270 and then to 3200 mark

Now what to expect???

Close below 3270 will see further panic till 3230---3200 mark in days to come

Traders holding short in Soyabean can revise stop loss above 3370 mark. Others can trade with levels only




Soyaref




Made a high of 626.80 and crashed vertically to 606

Now what to expect???

Support at 605 and Resistance at 612

Two consecutive closes below 605 will take to 600---597 and then to 593 mark in days to come

Fresh buying can initiate only close above 612 mark

Trade with levels only as upper side seems limited. Anything seems will update via SMS




Castorseed




Told to sell Castorseed below 4120 and add more lot around 4180 with stop loss of 4220. Both level initiate and crashed vertically to 4063 mark

Now what to expect???

Two consecutive closes below 4120 will take to 4030---3970 mark in days to come

Traders holding short in Castorseed can book part profit and on rise will sell it with same stop loss

Any reversal seems will update via SMS




Sugar



Support at 2970 and Resistance at 3070

Overall trend looks weak and on rise will sell with stop loss above 3070 on closing basis for the initial target of 2970. Weekly close below 2970 will take to ???

Trade with levels only... Any reversal seems will update via SMS




















































More will update soon...

Update on Bullion, Base Metal and Energy









Today, US banks will remain close in observance of Labor Day. 

So will expect range bound trading in metal and energy.


 Rest markets are open. So trade safely with levels only













Have a look on it!!







Gold



Support at 27880---27760 and Resistance at 28050---28200

Decisive break and sustain below 27880 will take to 27830---27760 mark

Two consecutive closes below 27760 will take to 27500---27350 mark in days to come else it could test its resistance level of 28050---28200 again

Two consecutive closes above 28200 will take to 28500---28650 and then to ???

Look Choppy and has no clear direction... So traders can trade in a range with levels only



Silver



Support at 42800---42500 and Resistance at 43300---43800

Fresh selling can initiate only close below 42500 mark else it could test its resistance level of 43300---43800 again

Further upside rally seen only close above 43800 mark

Traders can trade with levels only and wait for conformation. Anything seems will update via SMS



Copper



Support at 427----423 and Resistance at 435---439

Will expect range bound trading in this week... So traders can trade in a range with strict stop loss and wait for conformation

Anything seems will update via SMS



Lead



Support at 134.50 and Resistance at 137.50

Two consecutive closes below 134.50 will take to 132.50---131.00 mark in days to come

Fresh buying can initiate only close above 137.50 mark

Looks choppy and has no clear direction



Zinc



Support at 141.00 and Resistance at 144.00

If Zinc unable to breach its resistance level of 144.00 then will see panic till 141.00 mark.

Two consecutive closes below 141.00 will take to 138.00---136.50 mark in days to come

Fresh buying can initiate only close above 144.00 mark

Traders can trade in a range with levels only and wait for conformation



Crude oil



Not able to breach the support level of 5640 and spurts to 5838 mark

Now what to expect???

Support at 5770 and Resistance at 5840

Close above 5840 will take to 5890---5930 mark else it could test its support level of 5770 again

Close below 5770 will take to 5730---5690 and then to 5640 mark in days to come

Traders can trade in a range with levels only and wait for conformation. Anything seems will update via SMS













































More will update soon...

Daily Currency Outlook



Technical Review   - USDINR

Today, a break above 61.15 could result in test 61.35 levels and above it 61.48 levels, else pair may take short term correction till 60.80.

Important Factor: N.A.


Technical Review:  EURINR

EURINR saw near about 38.2% pullback of its last week fall and settled at 80.32, up 0.20%.  On Monday bear could capture this short term bull as negative aspect into the EURUSD may drag EURINR towards 80.00-79.60 levels again hence, sell with stop loss of 80.52 is recommend for target 80.00-79.60 levels.

A breakout above 80.52 could bring next bullish move till 80.78.



Technical Review: GBPINR

GBPINR gained more than 0.15%, and settled at 101.01. Today, GBPINR will expect to trade volatile following to a high wave candle stick formation.

Recommendation: Sell 100.94-100.95 target 100.70 stop loss 101.05

  
Technical Review: JPYINR


JPYINR extended its previous day gain and settled with a gain of 0.37% on Thursday. A hammer candle stick formation on EOD chart is signifying for negative aspects may take place in start of the week.  Hence sell on rise 58.60-58.65 target 58.40-58.25 stop loss 58.80.









More will Update soon....

Thought for the day









Thursday, 28 August 2014

Update on Gold, Silver, Copper and Crude oil










Gold




Support at 27750 and Resistance at 28050

Now will do fresh selling only close below 27750 mark else it could test its resistance level of 28050 again

Two consecutive closes above 28050 will take to 28200---28300 and then to 28550 mark in days to come

Traders can trade in a range with levels only and wait for conformation



Silver (Dec)



Support at 42500 and Resistance at 43200---43600

For short term... Looks positive and could test its resistance level of 43200---43600 mark

Three consecutive closes + weekly close above 43600 will take to ???

Fresh selling can initiate only weekly close below 42500 mark

Trade with levels only



Copper (Nov)



Support at 430 and Resistance at 437---441

Two consecutive closes + weekly close below 430 will take to 423---418 mark in days to come else it could test its resistance level of 437---441 again

Further upside rally seen only weekly close above 441 mark

Trade with levels only and wait for conformation



Crude oil



Support at 5640 and Resistance at 5730---5780

Traders can trade in a range with strict stop loss and wait for conformation. Anything Intra day seems will update via SMS















































More will update soon...

Daily EUR, GBP,JPY and USDINR Outlook





USDINR

Today, a break below 60.75 levels could result in test of 60.50 levels and below it 60.37 levels, else the pair may take short term consolidation in the range of 60.80-61.00 levels. On the other hand, a breakout of near term resistance above 61.15 levels only may push USDINR towards 61.20-61.50 levels. 

 Intraday Call Update - Yesterday carry forwarded  sell call  made a low 60.71.. target was 60.68. 

EURINR

On Wednesday, EURINR gave a gap down opening at 80.1950 levels from Tuesday close of 80.3850 levels and closed down by 0.29% at 80.15 levels. 

On weekend negative aspect remains to continue which may drag EURINR towards 80.20-80.00 levels and hence, sell below 80.05 is recommend with short term stop loss of 80.25 levels.

Above 80.35, buy with stop loss 80.25. 

 Intraday Call Update - Yesterday carry forwarded  sell call  has been stopped out at 80.25. 

GBPINR

GBPINR rebounded from the day low of 100.52 levels and closed at 100.85 levels. Today, short term pull back could be possible till 101.10-101.20 levels following a long bullish candle stick formation as well as possible trend reversal in the GBPUSD which may add some strength in GBPINR too. 

Hence, traders can buy GBPINR around 100.60-100.58 with stop loss of 100.50.

JPYINR

JPYINR traded in small range of 58.50-58.60 levels on Wednesday. A small white candle stick formation is signaling for short term pull back towards 58.80-59.10 levels.

 Intraday Call Update - Yesterday carry forwarded buy call hit 58.81.. second target is 58.88. Above 58.88 add/hold for 59.00.







More will update soon...



Thought for the day






Wednesday, 27 August 2014

Daily Commodity Update

 BULLIONS

SILVER has support of 41940,a break below 41940 it may take correction till 41500-4130 while resistance is at 42200 -42300 level On the downside

 Gold has support at 27840 and resistance 27940---28020. Traders can trade in a range with strict stop loss as trend looks choppy and has no clear direction.

ENERGY
A doji candle stick formation on EOD chart is indicating for indecision among crude oil traders.  Today, Crude oil inventory will decide short term trend for its near term support is seen at 5640 and resistance at 5730---5780. Traders can trade in a range with strict stop loss and wait for conformation

Energy Information Administration (EIA) will release its data later today.

BASE METALS

Today, Copper has support at 422 and resistance at 428-433. Traders can trade in a range with strict stop loss and wait for conformation as trend looks choppy and has no clear direction.

SOYBEAN/ SOIL OIL

oday, Soyabean has support at 3330 and resistance at 3380---3430 and Soya ref has support at 622---618 and resistance at 628---629.50. Traders can buy and accumulate Soyaref in panic with strict stop loss below 605 on closing basis.







More will update soon...


Currency Outlook - April-June BoP data may bring big move in USDINR..and EURUSD broke down to a new 11-month low.





 USDINR 

USDINR traded above the near term support of 60.75 and settled

 at 60.9075, down 0.16%. On Wednesday bearish move in UDINR 

is expected towards 60.75 levels following to a rising channel line

 breakdown. On the other hand, a breakout of near term resistance 

61.15 only may push USDINR towards 61.20-61.50 levels.



Furthermore, India April-June balance of payment data is lineup 

in days to come. No fixed date for release (for the quarter ended 

March was fell sharply to 0.2% of GDP ($1.2 billion) from 3.6% 

($18.1 billion) released on 26th May 2014) this sentiment may 

capped the USDINR.




Intraday call Update  -  Carry forwarded USDINR sell call

 recommended from 60.95-60.96 almost hit target 60.80. recent

 low 60.8050. Further more, a break below 60.75.. could expect 

correction towards 60.50.. 


EURINR

On Tuesday, EURINR closed 0.22% down at 80.32 levels, and sell 

on rise strategies around 80.75 was not initiated as EURINR 

pulled from the day high of 80.5875. On Wednesday negative 

aspect remain favored towards 80.20-80.00 and sell around 80.58-

80.55 is recommend with short term stop loss of 80.70


The EURUS broke down to a new 11-month 

trough of $1.3154 on Wednesday, taking it nearer to the Sept. 6 

low of $1.3104 which also doubles as major chart support was 

close to cracking on Wednesday as feverish  speculation of further 

policy stimulus in the euro zone drove bond  yields to all time lows and gave a fillip to stocks globally.



Intraday call Update  -  EURINR cracking... 80.48 >>>>80.10.. second target is 80.05 book part profits.Below 80.05 next target 79.80 with revised sl 80.20 


GBPINR

The intraday price movement was negative in GBPINR on 

Tuesday. Today, bearishness will expect to continue on absence of 

bullish reversal signal in the Pair while negative trend in to the 

GBPUSD will continue to support in intraday selling in GBPINR 

too. Hence, traders can go short around 101.10-101.05 with stop 

loss 101.25.

Intraday call Update  -  Carry forwarded GBPINR sell call 

recommended from 101.02-101.. now made a low 100.52 and 

trading at 100.66.book part profit around 100.60-100.55. below 

100.50 will next target 100.25 with sl 100.62..


JPYINR


JPYINR traded above the near term level support of 58.60 and 

settled at 58.61. A black opening Marobozu candle stick Formation  is signifying for continuation of recent bearish trend but this would be possible only below 58.55-58.60 levels. Till then short term pullback is expect for the upside level of 58.80-59.10 levels.

Intraday call Update  - Carry forwarded JPYINR buy call sl 
triggered at 58.58.. Recommended around 58.69-58.















More will Update Soon...