Wednesday, 20 August 2014

Symmetrical triangle breakdown is showing for bearish trend till 80.11-79.60 in EURINR



On the above weekly chart, EURINR August Future gave a 

breakdown of symmetrical triangle pattern which is showing for 

bearish trend till 80.11-79.60 in EURINR



Trading Strategy: Short position is recommended in EURINR 

around 80.95-81.00 with Stop loss above 81.30  for the target of 

80.45-80.11 in view, breach of this target will down further the 

pair downward and traders can expect the third target at 79.60.









More will Update soon.. 

JPYINR Short term technical outlook




A broadening wedge pattern breakdown on daily chart coupled 

with negative cross over in between RSI 14 and its 9 SMA is 

Suggesting for steep fall is waiting for JPYINR.

sell on rise strategy in JPYINR till  59.10-

59.05 recommend for target of 58.50-58.00 with stop loss 59.48. cmp 58.7750.




More will Update soon.....


Update on Agri Commodity







Enjoyed or Not???

Free fall in Soyabean... Soyaref... Rmseed,... CPO and rally in Chana












Soyabean



Crashed from 3530---3372 and now trading around 3400

Now what to expect???

Support at 3370 and Resistance at 3490

Close below 3370 will take to 3320---3250 and then to ???

Else it could test its resistance again

Fresh buying can initiate only close above 3490 level



Soyaref



Too crashed and made a low of 620 mark. We recommended selling from 653 mark

Now what to expect???

Below 618 will see further panic till 613---609 and then to 600 mark in days to come

On rise sell it with stop loss of 633 on closing basis



CPO



Told to sell CPO around 500. Too recommended fresh selling below 488 mark. Just made a low of 479.50

Now what to expect???

Below 488 will see panic till 473---469 mark in days to come

On rise sell it... Stop loss above 493



Chana



Told to buy around 2920 with stop loss of 2870. Spurts and made a high of 2985

Now what to expect??

Support at 2920 and Resistance at 2990---3020

Above 2990 will see rally till 3020. Further upside rally seen only close above 3020 level else it could test its support again

Close below 2920 will see further panic till 2870---2730 mark

2830 act as major support and will do positional sell only below that mark

Trade with levels only



Castorseed



Day before yesterday...Told to sell Castorseed around 4270 with stop loss of 4305. Crashed and made a low of 4130 and now trading around 4180

Now what to expect???

Support at 4120 and Resistance at 4250

Close below 4120 will see further panic till 4050---3970 mark in days to come

Traders holding short in Castorseed can revise stop loss above 4250 on closing basis

Others can trade with levels only






































More will update soon...

As expected, Crude oil crashed.... Enjoyed or Not???









Crude oil



Our positional sell call in Crude oil below 5930 crashed vertically and made a low of 5744 mark in yesterday's trading session

Too recommended that below $96 will see panic till $92---$88. Made a low of $92.63 in yesterday's trading session

Now what to expect???

Crude oil has weekly support at 5640 and Resistance at 5850---5930

Still looks weak and could test its support level of 5640 and then to 5570---5530 mark

Three consecutive closes + weekly close below 5640 will take to 5400---5300 mark in days to come

For Intraday... Crude oil has support at 5640 and Resistance at 5700

Break and sustain above 5700 will expect rally till 5730---5770 and then to 5850 mark

5930 act as major hurdle and positional traders will sell on rise

Any levels for Intraday seems will update via SMS



Zinc



Told to buy around 139.20---139.00 mark. Just made a high of 141.25

Now what to expect???

Two consecutive closes above 140.50 will take to 144---147+ mark in days to come

Support at 137.50---136.00

In panic will buy and accumulate with positional stop loss below 136.00 on closing basis



Lead



Too recommended buying in Lead around 135.20. Just made a high of 135.80

Close above 135.50 will take to 137.00---138.00+ mark in days to come

Fresh selling can initiate only close below 133.50 mark

Trade with levels only



Aluminium



Not able to breach the support level of 120.50 and spurts to 123.40 mark

Now what to expect???

Support at 120.50---118.00 and Resistance at 125.50

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
















































More will update soon...

Update on Gold, Silver, Copper, Nickel and Natural Gas








Gold




Support at 28150 and Resistance at 28320

Still looks weak and could test its support. Decisive break and sustain below 28150 will see panic till 28080---28020 mark

Close below 28020 will see further panic till 27850---27700 and then to 27550 mark in days to come else it could test its resistance level of 28320 again

Break and sustain above 28320 will take to 28390---28450 and then to ???

Trade with levels only



Silver



Not able to breach the resistance level of 42800 and slipped to 42111 mark. We recommended selling around 42500 level

Now what to expect???

Support at 42000---41700 and Resistance at 42800

Still looks weak and could test 42000---41700 and then to 41300 mark in days to come else it could test its resistance again

Overall trend looks weak and our downside target intact at 39700

Any positional reversal seems will update via SMS



Copper





Support at 415 and Resistance at 420---423


Close below 415 will take to 410---407 and then to 402 mark else it could test its resistance level of 420---423 again

Traders can trade in a range with strict stop loss and wait for conformation





Nickel





Support at 1109 and Resistance at 1133---1141

Below 1119 will see panic till 1119 will see panic till 1113---1109. Two consecutive closes below 1109 will see further panic till 1088---1073 mark else it could test its resistance again

Close above 1141 will take to 1153---1159 and then to 1170 mark

Trade with levels only




Natural Gas




Support at 227 and Resistance at 233---240


Traders holding short in Natural gas can hold with strict stop loss above 240 on closing basis

Boldly written to sell on rise around 237 mark

Trade with levels only














































More will update soon...

Currency Outlook - US Federal Reserve Open Market Committee minutes of monetary policy meeting will be key factor for INR,USD, EUR, GBP and JPY








USDINR




Dollar/rupee stayed flat to slightly negative on Tuesday on easing of tensions in Ukraine amid some dollar demand by importers ahead of the release of the Federal Reserve open Market Committee minutes of meeting and US inflation data.

Technical Review

USDINR stayed lower on Tuesday as expect and formed a trend reversal hammer candle stick on EOD chart.  This hammer indicates for possible trend reversal in days to come.

Important Factor:  U.S. FOMC Meeting Minutes
Trading Level  : Support 60.58 and resistance 60.95



EURINR

Euro/dollar extended fall as greenback strengthened globally after robust US housing data ahead of the US Federal Reserve Open Market Committee meeting.

Foreign ministers from Russia, Ukraine, Germany, and France gathered in Berlin over the weekend to discuss talks for a ceasefire after reports stated that Ukrainian forces had attacked Russian convoys for crossing the border.

Technical Review:

EURINR gave more than 24 paisa gap down open on Tuesday and tested 81.0925 levels. Today, EURINR is expected to remain volatile based on high wave candle stick formation on EOD chart.

Important Factor:    German PPI m/m
Recommendation: Sell on rise around 81.15-81.10 target 81.00-80.80 stop loss 81.30



GBPINR



Pound extended recent fall towards four-month low after UK's retail inflation slowed more than expected, fading expectations of an early rate-hike by Bank of England and as investors eyed minutes of the last month's meeting.

UK consumer price index inflation slowed to 1.6% in July from 1.9% a year. Retail inflation fell 0.3% in July from 0.2% fall compared to 0.2% acceleration a month ago.

Technical Review

GBPINR is expected to set another plunge as it is trading near to its crucial support of 101.05-101.09 levels with any reversal signals absent. A keen eye will be there for MPC Asset Purchase Facility Votes and MPC Official Bank Rate Votes that could offer extreme volatility in GBPUSD and consequently in GBPINR too. A slide below 101.05 floor levels would be required to open for the range-bottom at 100.80-100.60 levels.

Important factor/data: MPC Asset Purchase Facility & Bank Rate Votes
Recommendation: Sell below 101.05 target 100.80-100.60 sl 101.25


JPYINR


Yen extended losses against the Rupee for third consecutive day on easing geopolitical tensions amid a stronger dollar ahead of the US Federal Reserve Open Market Committee minutes of monetary policy meeting and US inflation data.

Technical Review

A long bearish candle stick formation on EOD chart coupled with negative cross over in between RSI 14 and its 9 SMA is indicating for continuation of recent bearish trend in JPYINR on Wednesday.


Sell below 59.10 target 58.80-58.65 sl 59.25.

































More will update soon.... 

Thought for the day










Tuesday, 19 August 2014

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









Gold



Support at 28200---27900 and Resistance at 28550---28850





Decisive break and sustain below 28200 will take to 28080---28020 and then to 27900 mark. Further panic seen only weekly close below 27900 mark else it could test its resistance level of 28550---28700 and then to 28850 mark

Looks choppy and has no clear direction... Traders can trade in a range with strict stop loss and wait for conformation



Silver



Support at 42500 and Resistance at 42800---43200






Close below 42500 will take to 41800---41500 else it could test its resistance level of 42800---43200 again. 

Fresh buying can initiate only close above 43200 level but upper target seems to be limited and any sharp rise will be best selling opportunity in Silver

On Comex division, As expected, On Comex division... Silver took the support level of $19.40 and bounced back

Fresh selling can initiate only weekly close below $19.40

Weekly close below $19.40 will take to 18.80---18.50 and then to ???

Resistance intact at $20.20

Traders can trade with levels only... Any reversal seems will update via SMS



Copper



Support at 415 and Resistance at 420---423




Close below 415 will take to 410---407 and then to 402 mark else it could test its resistance level of 420---423 again

Traders can trade in a range with strict stop loss and wait for conformation



Nickel



Told to sell Nickel around 1131 with stop loss of 1141. Made a low of 1119 in yesterday's trading session and now trading around 1124





Now what to expect???

Support at 1109 and Resistance at 1133---1141

Below 1119 will see panic till 1119 will see panic till 1113---1109. Two consecutive closes below 1109 will see further panic till 1088---1073 mark else it could test its resistance again

Close above 1141 will take to 1153---1159 and then to 1170 mark

Trade with levels only



Crude oil



Told to sell Crude oil around 5950 with stop loss of 6030. Crashed and made a low of 5824 and now trading around 5875




Now what to expect???

Crude oil September contract is now trading around 5760

Overall trend still looks and could test 5680---5630 mark in days to come.

5630 act as major support for Crude oil

Traders can try to get an opportunity to sell Crude oil on rise around 5790---5830 with stop loss above 5900 on closing basis




Natural Gas



Support at 227 and Resistance at 233---240




Close above 233 will take to 237---240 else it could test its support again

Close below 227 will take to 223---219 mark

Traders can sell Natural gas on rise around 233---237 with stop loss above 241 on closing basis for the initial target of 227---223---219














































More will update soon...