Tuesday, 23 September 2014

Update on Gold and Silver









Gold



Support at 26450----26300 and Resistance at 26850---27200


Close above 26600 will take to 26850 and then to 27050---27200 mark in days to come

Fresh selling can initiate only close below 26300 mark

Traders can buy Gold in panic with strict stop loss of 26300 on closing basis



Silver



Not able to breach the support level of 38800 and bounced back to 39825

Now what to expect???

Support at 38800---38300 and Resistance at 40200

Still looks positive and could test 40200 mark. Close above 40200 will see further upside rally till 40500---40800 mark

Else it could test its support again

Close below 38800 will take to 38550---38300. Three consecutive closes + weekly close below 38300 will take to ???

Trade with levels only



























More will update soon...

Daily Currency Outlook




USDINR

USDINR traded within previous day range of 60.81-61.00 levels and settled at 60.90 levels, almost flat.

 Near term support is at 60.75 levels and a break below it could result in further bearish trend towards 60.50-60.37 level.

Else, short term pullback towards 61.11-61.20 could be expected from 60.80-60.82 levels.

EURINR

Sell strategy given around 78.70-78.75 levels was not initiated as EURINR traded below the 78.50 levels on Monday. A long bearish candle stick formation on EOD chart may be sign for continuation of recent bearish trend.

Hence, traders may sell EURINR at 78.30-78.35 levels with stop loss of 78.50 levels and target of  78.00-77.80 levels

GBPINR

A breakdown of short time rising channel support at 99.58 levels, resulted in 33 paisa corrections in GBPINR which settled down by 0.33% at 99.41 levels.

Today, a break below 99.35 levels could bring correction towards 99.10-98.90 levels. Hence, traders may sell GBPINR below 99.35 levels with stop loss of 99.55 levels for target of 99.20-98.90 levels.


JPYINR

After a big negative journey in last few couple of the day, JPYINR saw consolidation and sell strategy given around 56.15-56.20 levels was successful with pair dropped towards 55.86 levels
.
At this point a fresh bearish move may be at risk as the pair is trading above 55.68 levels. Perhaps, a bullish trend in USDJPY may control the buying activities on in JPYINR.

Hence, sell on rise till a 56.00-56.05 level is recommended with revise stop loss of 56.20 levels for target of 55.80-55.65 levels.














More will Update soon....



Thought for the day








.

Monday, 22 September 2014

Update on Gold, Silver, Copper, Nickel, Lead, Zinc, Aluminium, Crude oil and Natural Gas













Enjoyed panic in Gold, Silver, Copper, Nickel, Lead, Zinc, Aluminium, Crude oil and Natural Gas. Just trade with levels only






Have a look on it!!




Gold




Clearly indicated to sell Gold around 26620. Crashed vertically and made a low of 26362. Holding short from 26950 mark

Now what to expect???

Below 26340.. will see panic till 26270---26220. Two consecutive closes below 26220 will see further panic till 26020 and then to 25700---25550 mark in days to come

Revise Intraday stop loss of 26500




Silver



Below 41500... Our positional target was 39700---39300. Just made a low of 38919

Now what to expect???

Support at 38700---38300 and Resistance at 40200

Three consecutive closes below 38300 will see nonstop panic till 35000---34000 mark in days to come

Else it could test its resistance level of 39500---40200 again

Weekly close above 40200 will expect dead cat bounce in Silver till ???

Positional traders can sell Silver on rise around $18.40---$18.70 with stop loss of $19.35 for the positional target of $16.00----$14.50 mark

Trade with levels only



Copper



From 427---413.20. Too recommended fresh selling below 419.50 mark

Now what to expect???

Three consecutive closes below 414 will take to 403---397 mark in days to come

Revise stop loss of 420 on closing basis



Nickel



Hit 4% lower circuit... We recommended selling below 1083 mark while holding short from 1145 mark

Now what to expect???

Support at 1030 and Resistance at 1080

Three consecutive closes + weekly close below 1030 will take to 985---960 mark in days to come

Already booked part profit... Now revise stop loss of 1080




Zinc



Too made a low of 135.00. Told to sell around 137.00, Holding short from 142.50 mark

Now what to expect???

Still looks weak and on rise will sell... Target intact 132---129 mark

Revise stop loss of 140




Aluminium



Too made a low of 117.10. We recommended selling below 121 mark. Holding short from 125 level

Now what to expect???


Close below 117 will will see further panic till 115.50---114 mark in days to come

Revise stop loss of 120



Lead



Too crashed vertically... Indicated to sell below 127.80 mark. Too holding short from 133.50

Now what to expect???

Support at 124.50---123.00. Could test its support. Further panic seen only close below 123.00 mark

Revise stop loss of 128.00



Crude oil



Told to sell around 5610---5620. Just made a low of 5581. 

Now what to expect???

Below 5570... will see further panic till 5530---5470 mark in days to come

Book part profit and on rise will sell with stop loss of 5680



Natural Gas



Just made a fresh low of 233.50 after our sell call

Now what to expect???

Support at 230 and Resistance at 242---247

Three consecutive closes below 230 will take to 223---219 and then to ???

Else it could test its resistance level of 236---239---242 and then to 247 mark

Further upside rally seen only close above 247 level

Trade with levels only





Weekly Pivot Levels

Symbol
Contract
Close
R1
R2
Pivot
S1
S2










GOLD
03OCT2014
26496
26921
27347
26691
26265
26035

SILVER
05DEC2014
39626
41092
42557
40308
38843
38059

CRUDEOIL
19OCT2014
5609
5754
5899
5660
5515
5421

NATURALGAS
25SEP2014
234.90
243
251
238.4
230
226

COPPER
28NOV2014
420.65
431.1
441.5
424.5
414.1
407.5

NICKEL
30SEP2014
1080.60
1111
1142
1095
1064
1048

LEAD
30SEP2014
126.70
129.8
132.8
127.6
124.6
122.4

ZINC
30SEP2014
138.05
140
142
138.3
136
134

ALUMINIUM
30SEP2014
118.90
121.5
124.0
120.1
117.6
116.2































More will update soon...

Currency Outlook for week ending 26th September 2014



USDINR
Sell strategy given for last week was successful and USDINR hit first target of 60.80 levels, initiated at 61.20 levels. A failure of near term resistance crossover is signifying that this week USDINR may correct further and show 60.40 levels then 60.20 levels on downside.  

Only a breakout above 61.45 levels could result in bullish trend towards previous high of 61.98 levels.

 Hence, sell below 60.75 levels is recommended with stop loss of 61.05

Important factor/data:
U.S weekly Unemployment Claims on 25th Sept.


EURINR

Sell strategy given at 79.18-79.15 levels was successful and EURINR hit first target of 78.50 levels. This week, EURINR may show further bearish move towards 78.00-77.50-77.31 levels. 

At this point the chances for trend reversal in EURUSD is looking hard following to the failure of trend reversal candle stick formation of weekly chart so the pair may test $1.2750 (LTP $1.2837). Hence, this week bearishness is expected to continue on EURINR

Recommendation
 Sell around 78.30-78.35 target 78.00-77.50, add more lots around 78.75-78.80 stop loss 79.45.

Important factor/data:
French Flash Manufacturing PMI on September 23rd.


GBPINR

Buy on dips strategy around 98.70 levels was not initiated last week as GBPINR continued to trade above 99.00 levels and as expected GBPINR witnessed a volatile trade after Scotland voted against separating from the United Kingdom. This news may be in favor for pound and possible bounce back towards 100.50-101.00 levels could be expected from 99.30-99.40 levels in GBPINR. 

Recommendation
 Buy around 99.30-99.40 target 100.00-100.50 stop loss (strict) 98.80.

A break below 98.80 could result in bearish trend towards 98.20 and below.


JPYINR
JPYINR was the star performer against the three other currency pair last week as sell strategy given below 56.80 levels was successful, with pair dropped towards 55.6825 levels. 

A breakdown of long term trend line support coupled with negative cross over in between RSI 14and its 9 SMA is yet indicating for continuation of recent decline in JPYINR. 

Hence, sell strategy is expected around 56.80 or below 55.65 levels for this week.


Recommendation
Sell around 56.80-57.00 target 56.20-55.70 stop loss 57.45.
Or risky traders may sell below 55.65 target 55.20-55.00 stop loss 56.10.

Important factor/data:
China HSBC Flash Manufacturing PMI 23rd September



Thought for the day