Friday, 1 August 2014

Update on Gold, Silver and Crude oil









Gold (Oct)



Support at 27800 and Resistance at 28050---28300

Two consecutive closes below 27800 will take to 27600---27450 mark in days to come else it could test its resistance level of 28050---28300 again

Further upside rally seen only weekly close above 28300 mark

On Comex division... Close below $1280 will see further panic till $1266---$1253 mark in days to come

Fresh buying can initiate only weekly close above $1310

Trade with levels only... Anything seems will update via SMS



Silver



Support at 44300 and Resistance at 44800---45300

Break and sustain below 44300 will see panic till 44000---43700 and then to 43200 mark else it could test its resistance level of 44800---45300 again

Further upside rally seen only close above 45300 mark

On MCX division... Silver below $20.30 will see panic till $20.05---$19.80

Three consecutive closes + weekly close below $19.80 will take to ???

Strong resistance at $20.85

Trade with levels only... Anything seems will update via SMS



Crude oil




Support at 5970---5930 and Resistance at 6150

Three consecutive closes + weekly close below 5930 will see free fall in Crude oil till 5785---5730 mark in days to come else it could test its resistance level of 6050

Close above 6050 will see further upside rally till 6090---6120---6150 again

Trade with levels only... Anything seems will update via SMS











































More will update soon...

Daily Currency Outlook - Buy strategy recommended in USDINR around 60.48-60.45 is rokcing...




















 Dollar/rupee in the interbank offshore market rose to a 14 week high after a globally strong dollar caused most overseas investors to square their positions ahead of US jobs data amid geopolitical tensions.


 Robust data in the US strengthened expectations in favor of a rate hike by the Federal Reserve earlier than expected even as the Fed in its statement said that it would not hike rates immediately.

 The yield on the 10-year US treasury added 1 bps to 2.57%, reflecting concerns of an early rate hike by the Fed.
 GDP in the US grew 2% in the Apr-Jun quarter from 1.3% a quarter earlier and above expectations 1.8%, while GDP also grew 4% in the second quarter after falling 2.1% for the same quarter earlier.


 The dollar index which tracks the strength of the greenback against six major currencies rose to a near 11 month high 81.50, its highest since Sep 14 after strong US GDP ahead of the release of jobs data for the US.

USDINR saw an abrupt bullish rally till 60.8875 on Thursday, as per our buy strategy recommended around 60.45-60.45 was successful. A long bullish candle stick formation on EOD chart is indicating for bullishness to continue in USDINR and sustain trade above 60.95 for next positive rally till 61.20 and above.    



           



Near term resistance is seen at 81.50 sustain trade above could expose for next resistance 81.70-81.86 levels.     









Today, a short term correction till 102.50-102.30 could be expected with stop loss 102.88. Near term resistance is seen at 102.90 a breakout of these levels will decide bullish trend till 103.15-103.30 for the pair.





The two similar top candle stick on hourly chart is indicating continuation of recent bearish trend in JPYINR. Near term resistance is seen at 59.25 above which short term pullback could be seen till 59.50 and above



































More will update soon...

Though for the day








Thursday, 31 July 2014

Update on Copper and Aluminium (Only For Positional Traders)










Copper (Only For Positional traders)




Yesterday.... Spurts from lower level strongly and made a high of 435






Now what to expect???

Copper has support at 430---423 and Resistance at 438

Three consecutive closes + weekly close above 438 will see nonstop rally in Copper till 449---453 and then to ???

Positional traders can buy Copper in panic around 433---430 with stop loss below 423 on closing basis. Will add more lot if break and close above 438 level



Aluminium


Now 118.00 act as major support for Aluminium and in panic will buy with stop loss below 118 on closing basis





Three consecutive closes + weekly close above 123.50 will see nonstop rally till 127.00---130.00+ mark in days to come

In panic will buy with stop loss 118.00 on closing basis.









































More will update soon...

USD/INR opend down after Fed defers rate hike, EUR/USD hits fresh 8-month lows after U.S. data
















An inverted hammer candle stick formation on EOD chart is indicating for short term correction in USDINR. Yesterday pair broke the crucial support 60.39 and settled at 60.38. Hence, today selling could arise for the downside target 60.20-60.10 if pair cross and sustain below 60.35 else will expect to test 60.60-60.75 it’s near term resistance

The Federal Reserve on Wednesday said it was leaving its 
benchmark interest rate unchanged at 0.00-0.25% and added it 
would cut its monthly bond-buying program to $25 billion from $35 billion.






EURINR cross the Monday low and formed a long bearish candle stick which is indicating short term bearishness in EURINR. On Thursday Euro zone CPI data may decide the intraday trend. Near term support is seen at 80.75 below it will expect further correction till 80.50.  






A long bearish candle stick formation on EOD chart is indicating bearishness in GBPINR. Today, a break below 102.15 would confirm short term correction till 102.00-101.90. Near term resistance is seen at 102.55 a breakout of these levels will decide further trend for the pair.






Buy strategy given on Wednesday was not initiated as JPYINR gave a gap down open at 59.26. Today, correction till 58.94 JPYINR could be expected in JPYINR following a long bearish candle stick formation on EOD chart. 





















































More will update soon...

Though for the day




Wednesday, 30 July 2014

Update on Soyabean, Soyaref, Rmseed, Chana and Castorseed











Soyabean



Sent message to sell Soyabean around 3690. Crashed and made a low of 3633

Now what to expect???

Close below 3630 will take to 3580---3550 and then to 3500 mark in days to come else it could test its resistance level of 3690 again

Decisive break and sustain above 3690 will see further upside rally till 3720---3750---3780 mark

Already booked part profit... Now revise stop loss of 3690




Soyaref



Support at 680 and Resistance at 687

Two consecutive closes below 680 will take to 673---669 and then to ???

Else it could test its resistance level of 687 again

Further upside rally seen only weekly close above 687 mark.... Trade with levels only. Anything seems will update via SMS




Rmseed



Support at 3570 and Resistance at 3670

Close below 3570 will take to 3530---3490 and then to 3450 mark

Fresh buying can initiate only weekly close above 3670

Traders can sell Rmseed on rise with stop loss above 3670 on closing basis. Any reversal seems will update via SMS



Chana



Support at 2825 and Resistance at 2930

Two consecutive closes below 2825 will take to 2770---2730 mark in days to come else it could test its resistance again

Three consecutive closes + weekly close above 2930 will take to ???

Initial target looks 3020---3050

Trade with levels only.... Anything seems will update via SMS



Castorseed



Told to buy at 4180. Spurts and made a high of 4245. Our target was 4230---4270

Now what to expect???

Support at 4130 and Resistance at 4270

Two consecutive closes + weekly close above 4270 will take to 4350---4380 mark else it could test its support again

Close below 4130 will see panic again till 4070----4030 mark

Trade with levels only










































More will update soon...

Update on Lead, Zinc and Aluminium











Hope you all enjoyed levels in Base Metal... Not able to breach or close above its resistance level and crashed vertically










Have a look on it!!








Lead




Not able to breach the resistance level of 138.00 and crashed vertically to 132.30 mark. Clearly indicated that fresh buying will initiate only above 138.00 mark

Now what to expect???

Still looks weak and could test 131.00---130.00 mark. Fresh buying can initiate only close above 136.00 mark


For short term... Sell on rise with stop loss of 136.00





Zinc




Not able to close above the resistance level of 145.50 and crashed vertically to 140.20 mark. We recommended selling below 143.00 for nimble traders


Now what to expect???


Still looks highly positive on monthly chart and any sharp panic will be best buying opportunity

For long term and positional traders... 120.00 will be stop loss for the target of 180


Now what for Nimble traders....


Close below 143 will see panic till 140.00---139.00 and then to 137.00
 mark

On rise sell it with stop loss of 143.50 on closing basis

Others can wait for fresh entry to buy in panic





Aluminium




Not able to breach the resistance level of 123.00 and crashed vertically to 118.25 mark. Too sent message to sell around 120.00

Now what to expect???


Support at 118 and Resistance at 120---123.50

Two consecutive closes below 118 will take to 115---113.50 mark else it could test its resistance level of 120 and then to 122.00---123.50 again

Further upside rally seen only weekly close above 123.50 mark

Trade with levels only




















































More will update soon...