TRADING STRATEGY :-
MCX GOLD :
The trend is up. Hold your long positions with a stop loss at Rs 13750. Further buy only on a rise above Rs 14175. Intra-day traders can wait for a fall below Rs 14024 and when it rises above Rs 14024 then buy with the low below Rs 14024 as the stop loss.
MACD histogram is in the positive zone. The 14 day RSI is moving up and now below the 70 mark.
Open interest witnessed significant fall with the rise in price indicating short positions unwinding. Resistance is seen at Rs 14294 – Rs 14443.
DAILY CLOSING REVERSAL : 13788
MCX SILVER :
The trend is up. Hold your long positions with a stop loss at Rs 18915.
Further buy only on a rise above Rs 19600. Intra-day traders can wait for a fall below Rs 19334 and when it rises above Rs 19334 then buy with the low below Rs 19334 as the stop loss.
MACD histogram is now in the positive zone. The 14 day RSI is moving up and now near the 70 mark.
Open interest witnessed significant rise with the rise in price indicating fresh long positions build up.
Resistance is seen at Rs 19754 – Rs 20000.
DAILY CLOSING REVERSAL : 18981
VIEWS FOR THE DAY :
MCX Gold April: Supports around 14065/13986 could hold for next rally towards 14393/14456.It has to fall below 13986 to weaken the structure, leading to some change in this view.S1: 14025 S2: 13950 R1: 14175 R2: 14230
MCX Silver Mar: Crucial near-term support at 19467 , 19307. Fall below could lead prices towards 18906/18794 from where prices can find support again for a rally higher towards 20462.S1:19300 S2:18950 R1:19700 R2:20000
MCX Copper February: Rallies to 160 : 161.45 likely to find resistance for a move lower towards 148.45 : 145.20 levels.A rise above 163.6 could delay this fall.S1: 156 S2:153 R1: 162 R2:167
MCX Crude Oil Feb : Structure is bearish for a fall towards 1915 or more ideally towards 1881 from where it could strongly bounce back towards 2142.Resistance points are seen at 2044/2069 followed by 2122. Rise above 2122 is needed to cause confusion.S1: 2000 S2: 1945 R1: 2085 R2: 2135
MCX Lead Feb: Expect rallies to 57.25 : 57.65 likely to find resistance for a move lower towards 54.50 levels.Only a rise above 56.45 to negate this bearish view.S1: 53.85 S2: 52.7 R1: 55.5 R2: 56.15
MCX Nickel Feb: Expect rallies to 570 : 574 likely to find resistance for a move lower towards 541 levels.Only a rise above 584 to negate this bearish view.S1: 545 S2: 527 R1: 562 R2: 585
MCX Zinc Feb: - Rallies to 55.75 : 56.20 likely to find resistance for a move lower towards 53.40 levels.
MCX Natural Gas Feb: - A break of the range 214 :225 will decide the nest directive move. S1: 214 S2: 209 R1: 222 R2: 228
Friday, January 30, 2009
Thursday, January 29, 2009
VIEWS & TRADING STRATEGY FOR 29th JANUARY 2009
TRADING STRATEGY :-
MCX GOLD :
The trend is up. Hold your long positions with a stop loss at Rs 13475. Further buy only on a rise above Rs 14090.
Intra-day traders can wait for a fall below Rs 13943 or Rs 13804 and when it rises above Rs 13943 or Rs 13804 then buy with the low below Rs 13943 or Rs 13804 as the stop loss.
MACD histogram is in the positive zone. The 14 day RSI is moving down and now below the 70 mark. Open interest witnessed significant fall with the fall in price indicating long positions unwinding.
Resistance is seen at Rs 14033 – Rs 14172.
PIVOTS :
DAILY CLOSING REVERSAL : 13690
MCX SILVER :
The trend is up. Hold your long positions with a stop loss at Rs 18850. Further buy only on a rise above Rs 19600.
Intra-day traders can wait for a fall below Rs 19105 and when it rises above Rs 19105 then buy with the low below Rs 19105 as the stop loss. Resistance is seen at Rs 19462 – Rs 19653.
DAILY CLOSING REVERSAL : 18864
COMEX PIVOT LEVELS
SUP-1 878.70 SUP-2 870 PIVOT- 891 RES-1 899.50 RES-2 912
VIEWS FOR THE DAY
MCX Gold Feb: Ideally, 13821 should hold support, failing which we could see a further dip towards 13680 levels now.Favored view still expects supports to hold for a rise towards 14730 levels as long as supports hold.S1: 13975 S2: 13900 R1: 14150 R2: 14225
MCX Silver Mar: Crucial near-term support at 18964/18996. Fall below could lead prices towards 18369/18402 from where prices can find support again for a rally higher towards 20009.
S1:19000 S2:18750 R1:19500 R2:19785
MCX Copper February: Fall below 155 to lead prices lower towards 148 and 140.Only a daily close above 175 to re-inforce bullish expectations again.S1: 157 S2:154 R1: 165 R2 : 171
MCX Crude Oil Feb : A decline could be seen, targeting 1929. Fall below 1917 might see it attempting 1895.Ideally a strong recovery towards 2132/2157 should begin after this decline.
S1: 2000 S2: 1945 R1: 2110 R2: 2165
MCX Zinc Jan: - Rallies to 55.85 , 56.35 likely to find resistance for a move lower towards 53.0 levels.Only a rise above 56.7 to negate this bearish view.S1: 54.0 S2: 53.0 R1: 56.5 R2: 57.15
MCX Lead Jan: Expect rallies to 57.65 : 57.90 likely to find resistance for a move lower towards 53.50 levels.Only a rise above 58.25 to negate this bearish view.S1: 55.00 S2: 54.00 R1: 57.25 R2: 58.30
MCX Nickel Jan: Expect rallies to 578 : 585 likely to find resistance for a move lower towards 552 levels.Only a rise above 589 to negate this bearish view.S1: 565 S2: 542 R1: 587 R2: 605.
MCX Natural Gas Feb: - A break of the range 214 :225 will decide the nest directive move. S1: 214 S2: 209 R1: 222 R2: 228
MCX GOLD :
The trend is up. Hold your long positions with a stop loss at Rs 13475. Further buy only on a rise above Rs 14090.
Intra-day traders can wait for a fall below Rs 13943 or Rs 13804 and when it rises above Rs 13943 or Rs 13804 then buy with the low below Rs 13943 or Rs 13804 as the stop loss.
MACD histogram is in the positive zone. The 14 day RSI is moving down and now below the 70 mark. Open interest witnessed significant fall with the fall in price indicating long positions unwinding.
Resistance is seen at Rs 14033 – Rs 14172.
PIVOTS :
DAILY CLOSING REVERSAL : 13690
MCX SILVER :
The trend is up. Hold your long positions with a stop loss at Rs 18850. Further buy only on a rise above Rs 19600.
Intra-day traders can wait for a fall below Rs 19105 and when it rises above Rs 19105 then buy with the low below Rs 19105 as the stop loss. Resistance is seen at Rs 19462 – Rs 19653.
DAILY CLOSING REVERSAL : 18864
COMEX PIVOT LEVELS
SUP-1 878.70 SUP-2 870 PIVOT- 891 RES-1 899.50 RES-2 912
VIEWS FOR THE DAY
MCX Gold Feb: Ideally, 13821 should hold support, failing which we could see a further dip towards 13680 levels now.Favored view still expects supports to hold for a rise towards 14730 levels as long as supports hold.S1: 13975 S2: 13900 R1: 14150 R2: 14225
MCX Silver Mar: Crucial near-term support at 18964/18996. Fall below could lead prices towards 18369/18402 from where prices can find support again for a rally higher towards 20009.
S1:19000 S2:18750 R1:19500 R2:19785
MCX Copper February: Fall below 155 to lead prices lower towards 148 and 140.Only a daily close above 175 to re-inforce bullish expectations again.S1: 157 S2:154 R1: 165 R2 : 171
MCX Crude Oil Feb : A decline could be seen, targeting 1929. Fall below 1917 might see it attempting 1895.Ideally a strong recovery towards 2132/2157 should begin after this decline.
S1: 2000 S2: 1945 R1: 2110 R2: 2165
MCX Zinc Jan: - Rallies to 55.85 , 56.35 likely to find resistance for a move lower towards 53.0 levels.Only a rise above 56.7 to negate this bearish view.S1: 54.0 S2: 53.0 R1: 56.5 R2: 57.15
MCX Lead Jan: Expect rallies to 57.65 : 57.90 likely to find resistance for a move lower towards 53.50 levels.Only a rise above 58.25 to negate this bearish view.S1: 55.00 S2: 54.00 R1: 57.25 R2: 58.30
MCX Nickel Jan: Expect rallies to 578 : 585 likely to find resistance for a move lower towards 552 levels.Only a rise above 589 to negate this bearish view.S1: 565 S2: 542 R1: 587 R2: 605.
MCX Natural Gas Feb: - A break of the range 214 :225 will decide the nest directive move. S1: 214 S2: 209 R1: 222 R2: 228
Wednesday, January 28, 2009
VIEWS FOR 28th JANUARY 2009
MCX Gold Feb: Supports at 13944 and 13898 to hold dips for a rally higher towards 14695 levels initially.Direct fall below 13835 to dent our bullish expectations. S1: 13975 S2: 13900 R1: 14150 R2: 14225
MCX Silver Mar: Supports at 18950/19035 to hold for a target of 19933/19998 levels. Dip below 18873 to cause doubts on our bullish view.S1:19200 S2:18950 R1:19700 R2:19985
MCX Copper February: Any rallies being sold into giving a possible feel of a the rallies to be unsustainable. Fall below 155 to lead prices lower towards 148 and 140. Only a daily close above 175 to re-inforce bullish expectations again.S1: 157 S2:154 R1: 165 R2:171
MCX Crude Oil Feb : Break below 2144 has lost the bullish chance and caused a decline. Up ticks could now be resisted near 2093 or 2137/2142 for next decline towards 1934/1920. It needs to cross above 2165 to hint at strength. Next resistance levels are near 2205. S1: 2095 S2: 2040 R1: 2185 R2: 2225
MCX Zinc Jan: - Expect price to find support at 54.35 54.05 for a rise towards 58.0 levels. Only a move below 53.25 to raise doubts about this bullish view. S1: 54.0 S2: 53.0 R1: 56.5 R2: 57.15
MCX Lead Jan: Expect price to find support at 55.45 55.05 for a rise towards 59.45 levels. Only a move below 54.65 to raise doubts about this bullish view.S1: 55.00 S2: 54.00 R1: 57.25 R2: 58.30
MCX Nickel Jan: Expect price to find support at 550 544 for a rise towards 585 levels. Only a move below 533 to raise doubts about this bullish view. S1: 541 S2: 523 R1: 575 R2: 594
MCX Natural Gas Feb: - Expect price to find support at 216 213 for a rise towards 229 levels.Only a move below 210 to raise doubts about this bullish view. S1: 217 S2: 209 R1: 225 R2: 239
FOREX EURO TECHNICAL VIEW: Just as we expected, the pair was able to reach its target at 1.3140 before rebounding back to the upside to breach the key resistance for the downside channel and close above it. We expect to see high volatility around the pivot resistance at 1.3330 where there is a possibility to form a positive technical pattern if the above mentioned level is breached with targets at 1.3740 and 1.3825. However, on the intraday basis, there is a chance to see slight downside movements to retest the key support between 1.3140 and 1.3180.
TRADING IDEA :: Buy the pair above 1.3205 with targets at 1.3325 and stop loss with a four hour close below 1.3105
NYMEX CRUDE TECHNICALS:A clear failure to breach the key resistance for the medium term decending channel we have pointed out to yesterday as crude returned to close below the level. The resistacne level for today has shifted to 47.00 - 47.40 followed by a major resistance at 48.50 and as far as trading remains below these levels, crude will continued to fall, Today we expect high volatility as seen on momentum indicators as they show crude being in an oversold area on the hourly charts whereas direction indicators are pointing to the downside. Support levle are found at 40.60 and 40.20 which makes us expect sideways movements between the 47.40 and 40.60 levels
COMEX GOLD TECHNICALS:As we expected in our previous reports gold doesn't have enough momentum to move to the upside as most of the indicators still support the downside outlook in addition to the bearish candlesticks pattern which confirms our previous expected scenarios. Any break out that occurs below 889.00 as shown on the chart will help the downside correction wave to accelerate towards 879.00 followed by 870.00 (The 1st cluster support) that gold will face before deciding to resume a further expected decline only sustained below 888 we may expect fall
USDINR (48.90) : With RBI making no change in the Credit Policy, expect USD-INR to fall further to 48. in coming days if 49.30 undisturbed
Support: 48.40/48.00/47.75.
Resistance: 49.30/49.90/50.15
MCX Silver Mar: Supports at 18950/19035 to hold for a target of 19933/19998 levels. Dip below 18873 to cause doubts on our bullish view.S1:19200 S2:18950 R1:19700 R2:19985
MCX Copper February: Any rallies being sold into giving a possible feel of a the rallies to be unsustainable. Fall below 155 to lead prices lower towards 148 and 140. Only a daily close above 175 to re-inforce bullish expectations again.S1: 157 S2:154 R1: 165 R2:171
MCX Crude Oil Feb : Break below 2144 has lost the bullish chance and caused a decline. Up ticks could now be resisted near 2093 or 2137/2142 for next decline towards 1934/1920. It needs to cross above 2165 to hint at strength. Next resistance levels are near 2205. S1: 2095 S2: 2040 R1: 2185 R2: 2225
MCX Zinc Jan: - Expect price to find support at 54.35 54.05 for a rise towards 58.0 levels. Only a move below 53.25 to raise doubts about this bullish view. S1: 54.0 S2: 53.0 R1: 56.5 R2: 57.15
MCX Lead Jan: Expect price to find support at 55.45 55.05 for a rise towards 59.45 levels. Only a move below 54.65 to raise doubts about this bullish view.S1: 55.00 S2: 54.00 R1: 57.25 R2: 58.30
MCX Nickel Jan: Expect price to find support at 550 544 for a rise towards 585 levels. Only a move below 533 to raise doubts about this bullish view. S1: 541 S2: 523 R1: 575 R2: 594
MCX Natural Gas Feb: - Expect price to find support at 216 213 for a rise towards 229 levels.Only a move below 210 to raise doubts about this bullish view. S1: 217 S2: 209 R1: 225 R2: 239
FOREX EURO TECHNICAL VIEW: Just as we expected, the pair was able to reach its target at 1.3140 before rebounding back to the upside to breach the key resistance for the downside channel and close above it. We expect to see high volatility around the pivot resistance at 1.3330 where there is a possibility to form a positive technical pattern if the above mentioned level is breached with targets at 1.3740 and 1.3825. However, on the intraday basis, there is a chance to see slight downside movements to retest the key support between 1.3140 and 1.3180.
TRADING IDEA :: Buy the pair above 1.3205 with targets at 1.3325 and stop loss with a four hour close below 1.3105
NYMEX CRUDE TECHNICALS:A clear failure to breach the key resistance for the medium term decending channel we have pointed out to yesterday as crude returned to close below the level. The resistacne level for today has shifted to 47.00 - 47.40 followed by a major resistance at 48.50 and as far as trading remains below these levels, crude will continued to fall, Today we expect high volatility as seen on momentum indicators as they show crude being in an oversold area on the hourly charts whereas direction indicators are pointing to the downside. Support levle are found at 40.60 and 40.20 which makes us expect sideways movements between the 47.40 and 40.60 levels
COMEX GOLD TECHNICALS:As we expected in our previous reports gold doesn't have enough momentum to move to the upside as most of the indicators still support the downside outlook in addition to the bearish candlesticks pattern which confirms our previous expected scenarios. Any break out that occurs below 889.00 as shown on the chart will help the downside correction wave to accelerate towards 879.00 followed by 870.00 (The 1st cluster support) that gold will face before deciding to resume a further expected decline only sustained below 888 we may expect fall
USDINR (48.90) : With RBI making no change in the Credit Policy, expect USD-INR to fall further to 48. in coming days if 49.30 undisturbed
Support: 48.40/48.00/47.75.
Resistance: 49.30/49.90/50.15
Tuesday, January 27, 2009
VIEWS FOR 27th JANUARY 2009
MCX Gold Feb: Ideally, dips to 14025/14057 to find support and rise higher towards 14732/14763 levels.However, unexpected fall below 13947 to lead into a corrective rally towards 13711 levels.
S1: 13975 S2: 13900 R1: 14150 R2: 14225
MCX Silver Mar: Supports are at 19214 followed by 18972 for a target of 20118/20166 .Unexpected fall below 18956 to lead to a corrective fall towards 18149 levels.S1:19000 S2:18750 R1:19500 R2:19785
MCX Copper February: Supports are at 166.1 followed by 161.85. Ideally, a test of 189 looks likely as long as the support level holds.S1: 157 S2:154 R1: 165 R2:171
MCX Crude Oil Feb : The structure is bullish and favors a rise towards 2455 or 2490. Supports near 2251, 2219 or maximum 2201 could hold corrective dips.Dip below 2182 would caution about the possibility of a stronger decline towards 2117.S1: 2155 S2: 2100 R1: 2255 R2: 2300
MCX Zinc Jan: - Expect price to find support at 57.65 , 57.05 for a rise towards 60.0 levels.Only a move below 55.25 to raise doubts about this bullish view. S1: 56.0 S2: 55.0 R1: 57.5 R2: 58.45
MCX Lead Jan: Expect price to find support at 55.65 , 55.05 for a rise towards 59.45 levels.Only a move below 54.65 to raise doubts about this bullish view. S1: 53.00 S2: 52.00 R1: 55.25 R2: 56.30
MCX Nickel Jan: Expect price to find support at 571, 567 for a rise towards 605 levels.Only a move below 559 to raise doubts about this bullish view. S1: 565 S2: 543 R1: 587 R2: 610
MCX Natural Gas Feb: - Expect price to find support at 217 , 215 for a rise towards 239 levels.Only a move below 210 to raise doubts about this bullish view. S1: 217 S2: 209 R1: 236 R2: 247
S1: 13975 S2: 13900 R1: 14150 R2: 14225
MCX Silver Mar: Supports are at 19214 followed by 18972 for a target of 20118/20166 .Unexpected fall below 18956 to lead to a corrective fall towards 18149 levels.S1:19000 S2:18750 R1:19500 R2:19785
MCX Copper February: Supports are at 166.1 followed by 161.85. Ideally, a test of 189 looks likely as long as the support level holds.S1: 157 S2:154 R1: 165 R2:171
MCX Crude Oil Feb : The structure is bullish and favors a rise towards 2455 or 2490. Supports near 2251, 2219 or maximum 2201 could hold corrective dips.Dip below 2182 would caution about the possibility of a stronger decline towards 2117.S1: 2155 S2: 2100 R1: 2255 R2: 2300
MCX Zinc Jan: - Expect price to find support at 57.65 , 57.05 for a rise towards 60.0 levels.Only a move below 55.25 to raise doubts about this bullish view. S1: 56.0 S2: 55.0 R1: 57.5 R2: 58.45
MCX Lead Jan: Expect price to find support at 55.65 , 55.05 for a rise towards 59.45 levels.Only a move below 54.65 to raise doubts about this bullish view. S1: 53.00 S2: 52.00 R1: 55.25 R2: 56.30
MCX Nickel Jan: Expect price to find support at 571, 567 for a rise towards 605 levels.Only a move below 559 to raise doubts about this bullish view. S1: 565 S2: 543 R1: 587 R2: 610
MCX Natural Gas Feb: - Expect price to find support at 217 , 215 for a rise towards 239 levels.Only a move below 210 to raise doubts about this bullish view. S1: 217 S2: 209 R1: 236 R2: 247
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