Target1 1028 Achieved in NICKEL Today Buy Call at 1014-1017. With a
Thursday, March 25, 2010
TGT 1 REACED IN NICKLE
BOOK PART IN NICKLE
Book Partial Profit in NICKEL 1025 Today Buy Call at 1014-1017. With a
Exit NICKEL Sell Call Given Range 1010-1012. Exch:MCX (LOW 1006.50 CMP 1015) :: Time 03.35pm
Buy NICKEL Fut March at 1014-1017 SL Below 1004 Target1 1028 Target2 1038 :: Exch:MCX :: (Please maintain Strict SL) :: Time 03.40pm
Buy COPPER Fut April at 336.50-336.80 SL Below 33.80 Target1 340 Target2 342.50 ::Exch:MCX :: (Please maintain Strict SL) :: Time 03.42pm
SELL NICKLE
Sell NICKEL Fut March at 1010-1012 SL 1022 Target1 1000 Target2 992 Exch:MCX (Please maintain Strict SL)
MCX & COMEX EXPECTATIONS FOR 25TH MARCH 2010
EXPECTATIONS FOR 25TH MARCH 2010 ::
MCX GOLD TRADING STRATERGY ::
Hold short positions with a stop loss of 16462.
Sell on rise to 16338-16402 with a stop loss of 16462.
Expect lower range of 16216-16030 to be tested.
The RSI is moving down along with the price therefore near term slide towards lower range is likely. RSI is likely to move below 30 mark
SILVER MCX TRADING STATERGY ::
Sell on rise to 26332-26471 with a stop loss of 26602.
Expect lower range of 26085-25699 to be tested.
On close below 25890 the slide can get accelerated subsequently.
SPOT SILVER ::
Sell on rise to 16.69$-16.86$ with a stop loss of 17$.
Expect lower range of 16.38$-15.91$ to be tested
SPOT GOLD ::
Sell on rise to 1092-1100$ with a stop loss of 1109$.
Expect lower range of 1080$-1060$.
A trend line breakdown has been witnessed of short term and long term also.
A follow up fall now get shown a downside momentum on Gold
NYMEX NATURAL GAS ::
Hold short positions with a stop loss of 4.18$.
Cover short positions on dip to 4.10$-4.06$ as the opportunity arises.
Buy on rise above 4.18$ with low of the day stop loss or 4$ whichever is lower.
Sell below 3.99$ with high of the day stop loss
NYMEX CRUDE ::
Sell on rise to 80.7-81.5 with a stop loss of 82.20$.
Expect lower range of 79.8-78$ to be tested.
On fall and close below 78$ expect a slide.
Broadly a sideways movement between 84$-78$ is likely
MCX VIEWS ::
MCX Gold April: An Initial target at 16275 has been met. A pullback to 16395/16425 looks likely now. Can extend towards 16470 levels too.Ideally, this resistance to cap for a decline towards 16110 or even lower
S1: 16225 S2: 16145 R1: 16365 R2: 16445
MCX Silver May: Pullback to 26420 followed by 26720 levels look likely. While below 26910 we expect declines to 25645/25725 from where a good recovery might take place .
S1: 26060 S2: 25880 R1: 26400 R2: 26580
MCX Copper April: 333 still remains a crucial support. While this level holds, we still expect prices to reach our upside targets at 352-354 levels.Daily close below 332 will force us to abandon our bullish expectations. Such a fall could 330 followed by 317.
S1: 333 S2: 329 R1: 340 R2:344
MCX Crude Oil April: Resistances are at 3703 followed by 3724 levels now. Resistances to cap for a decline to 3621 followed by 3559. Unexpected rise above 3747 could cause doubts on our bearish view.
S1: 3655 S2 3615 R1: 3725 R2: 3765
MCX Lead Mar: Rallies to 93.50/94.25 to be sold s/l 95.75 target 90.25.
S1: 91 S2: 90 R1: 93 R2: 94
MCX Nickel Mar: Initial support is at 1003/1005 followed by 995/997 now. While above these levels, prices could still consolidate and rise higher 1045. Direct fall below 993 to open the downside for 950 levels.
S1: 1004 S2: 992 R1: 1024 R2: 1036
MCX Zinc Mar: Pullback to 101.35/101.85 looks likely. Big picture structures are quite bearish for 97.50 or even lower. Ideally, resistance in the 102 zone could prove another opportunity to sell with s/l at 103.50.
S1: 99 S2: 98 R1:101 R2: 102
MCX Natural Gas Mar: While below 191, look for a further dip towards 181 or even lower.
S1: 185 S2: 181 R1: 191 R2:195
ENJOY TRADING !!!!
Hold short positions with a stop loss of 16462.
Sell on rise to 16338-16402 with a stop loss of 16462.
Expect lower range of 16216-16030 to be tested.
The RSI is moving down along with the price therefore near term slide towards lower range is likely. RSI is likely to move below 30 mark
SILVER MCX TRADING STATERGY ::
Sell on rise to 26332-26471 with a stop loss of 26602.
Expect lower range of 26085-25699 to be tested.
On close below 25890 the slide can get accelerated subsequently.
SPOT SILVER ::
Sell on rise to 16.69$-16.86$ with a stop loss of 17$.
Expect lower range of 16.38$-15.91$ to be tested
SPOT GOLD ::
Sell on rise to 1092-1100$ with a stop loss of 1109$.
Expect lower range of 1080$-1060$.
A trend line breakdown has been witnessed of short term and long term also.
A follow up fall now get shown a downside momentum on Gold
NYMEX NATURAL GAS ::
Hold short positions with a stop loss of 4.18$.
Cover short positions on dip to 4.10$-4.06$ as the opportunity arises.
Buy on rise above 4.18$ with low of the day stop loss or 4$ whichever is lower.
Sell below 3.99$ with high of the day stop loss
NYMEX CRUDE ::
Sell on rise to 80.7-81.5 with a stop loss of 82.20$.
Expect lower range of 79.8-78$ to be tested.
On fall and close below 78$ expect a slide.
Broadly a sideways movement between 84$-78$ is likely
MCX VIEWS ::
MCX Gold April: An Initial target at 16275 has been met. A pullback to 16395/16425 looks likely now. Can extend towards 16470 levels too.Ideally, this resistance to cap for a decline towards 16110 or even lower
S1: 16225 S2: 16145 R1: 16365 R2: 16445
MCX Silver May: Pullback to 26420 followed by 26720 levels look likely. While below 26910 we expect declines to 25645/25725 from where a good recovery might take place .
S1: 26060 S2: 25880 R1: 26400 R2: 26580
MCX Copper April: 333 still remains a crucial support. While this level holds, we still expect prices to reach our upside targets at 352-354 levels.Daily close below 332 will force us to abandon our bullish expectations. Such a fall could 330 followed by 317.
S1: 333 S2: 329 R1: 340 R2:344
MCX Crude Oil April: Resistances are at 3703 followed by 3724 levels now. Resistances to cap for a decline to 3621 followed by 3559. Unexpected rise above 3747 could cause doubts on our bearish view.
S1: 3655 S2 3615 R1: 3725 R2: 3765
MCX Lead Mar: Rallies to 93.50/94.25 to be sold s/l 95.75 target 90.25.
S1: 91 S2: 90 R1: 93 R2: 94
MCX Nickel Mar: Initial support is at 1003/1005 followed by 995/997 now. While above these levels, prices could still consolidate and rise higher 1045. Direct fall below 993 to open the downside for 950 levels.
S1: 1004 S2: 992 R1: 1024 R2: 1036
MCX Zinc Mar: Pullback to 101.35/101.85 looks likely. Big picture structures are quite bearish for 97.50 or even lower. Ideally, resistance in the 102 zone could prove another opportunity to sell with s/l at 103.50.
S1: 99 S2: 98 R1:101 R2: 102
MCX Natural Gas Mar: While below 191, look for a further dip towards 181 or even lower.
S1: 185 S2: 181 R1: 191 R2:195
ENJOY TRADING !!!!
LOOK FORWARD TO JOIN OUR PAID SERVICE FOR REAL TIME CALLS FOR JUST RS. 6000/- PER MONTH...
Wednesday, March 24, 2010
EXPECTATIONS FOR 24TH MARCH 2010
EXPECTATIONS FOR 24TH MARCH 2010
MCX Gold Apr: Support was seen at 16305, the bounce from there has been impressive. Resistance will be at 16545 followed by 16605 now. Ideally resistances to cap for a decline lower towards 16230 or even lower towards 16035.
S1: 16345 S2: 16265 R1: 16485 R2: 16565
MCX Silver May: Favored view is still bearish for a fall towards 26162 levels followed by 25771. Only rise above 27102 to negate our bearish view.
S1: 26466 S2: 26316 R1: 26766 R2: 26916
MCX Copper April: Strong resistance is seen at 344 levels. Failure to cross at 344 could dampen bullish expectations. Such a fall could take prices below 330. Rise above 344 is likely to take prices towards 348 levels.
S1: 335.50 S2: 331.50 R1: 343.50 R2: 347.50
MCX Crude Oil April: Unable to move above 3743 is a bearish sign. Break below 3679 to take prices further down towards 3648 followed by 3611.
S1: 3689 S2 3649 R1: 3769 R2: 3809
MCX Zinc Mar: Resistance is seen at 101.9 levels followed by 103.2 levels.
Favored view expects prices to move further lower towards 100 levels.
S1: 99 S2: 97 R1: 103 R2: 105
MCX Lead Mar: While below 98.5 it is likely to dip further towards 92/93 levels unexpected rise above 99 to dent our bearish expectations.
S1: 93 S2: 91 R1: 97 R2: 99
MCX Nickel Mar: Resistance is seen at 1030 levels. Once above 1030 rise towards 1040 can be expected. Fall below 1010 to take prices further lower towards 995 levels.
S1: 1009 S2: 994 R1: 1039 R2:
MCX Natural Gas Mar: A consolidation is underway between 184/190 now.
Extreme oversold indications favor a pullback towards 205 or even higher.
S1: 183 S2: 179 R1: 195 R2: 200
MCX Gold Apr: Support was seen at 16305, the bounce from there has been impressive. Resistance will be at 16545 followed by 16605 now. Ideally resistances to cap for a decline lower towards 16230 or even lower towards 16035.
S1: 16345 S2: 16265 R1: 16485 R2: 16565
MCX Silver May: Favored view is still bearish for a fall towards 26162 levels followed by 25771. Only rise above 27102 to negate our bearish view.
S1: 26466 S2: 26316 R1: 26766 R2: 26916
MCX Copper April: Strong resistance is seen at 344 levels. Failure to cross at 344 could dampen bullish expectations. Such a fall could take prices below 330. Rise above 344 is likely to take prices towards 348 levels.
S1: 335.50 S2: 331.50 R1: 343.50 R2: 347.50
MCX Crude Oil April: Unable to move above 3743 is a bearish sign. Break below 3679 to take prices further down towards 3648 followed by 3611.
S1: 3689 S2 3649 R1: 3769 R2: 3809
MCX Zinc Mar: Resistance is seen at 101.9 levels followed by 103.2 levels.
Favored view expects prices to move further lower towards 100 levels.
S1: 99 S2: 97 R1: 103 R2: 105
MCX Lead Mar: While below 98.5 it is likely to dip further towards 92/93 levels unexpected rise above 99 to dent our bearish expectations.
S1: 93 S2: 91 R1: 97 R2: 99
MCX Nickel Mar: Resistance is seen at 1030 levels. Once above 1030 rise towards 1040 can be expected. Fall below 1010 to take prices further lower towards 995 levels.
S1: 1009 S2: 994 R1: 1039 R2:
MCX Natural Gas Mar: A consolidation is underway between 184/190 now.
Extreme oversold indications favor a pullback towards 205 or even higher.
S1: 183 S2: 179 R1: 195 R2: 200
Tuesday, March 23, 2010
EXPECTATION FOR 23RD MARCH 2010
EXPECTATION FOR 23RD MARCH 2010
MCX SILVER TRADING STRATERGY ::
Cover short positions on dip to 26438 or below as the opportunity arises.
Sell on fall below 26180 with high of the day stop loss.
Traders can take chances to buy on decline to 26438-26303 with asotp loss of 26180 and use rise to 26697 or above to exit long.
MCX GOLD TRADING STRATERGY ::
Sell on rise to 16474-16502 with a stop loss of 16511.
Expect lower range of 16332-16162 to be tested.
The 14 day RSI is moving down on further fall below 40 mark the slide can be more.
Buy on rise and close above 16511 with low of the day stop loss
SPOT GOLD ::
Keep a stop loss of 1110$ to hold short. Cover short positions on dip to 1101$-1093$ as the opportunity arises.
Sell on fall below 1088$ with high of the day stop loss.
A rise towards 1109$-1125$ is possible.
Broadly, a sideways movement between 1145$-1088$ is being witnessed.
SPOT SILVER ::
Cover short positions at 16.83 or below as the opportunity arises.
Expect higher range of 17.07$-17.46$ to be tested.
Corrective dip to 16.83-16.68$ can be used for buying with a stop loss of 16.58$ to exit at 17.07$-17.46$ range as the opportunity arises.
Sell on fall and close below16.58$ with high of the day stop loss.
NICKLE LME ::
A sideways movement in a band of 22990$-20525$ continues.
On the 14 Week RSI a negative divergence is being witnessed and a fall and close below 20500$ can bring about a slide.
Further upside momentum can be witnessed on rise and close above 23000$.
Exit long positions and use rise from current price to 23000$ to exit long and to sell with a stop loss of 23000$.
Buy only on breakout and close above 23000$
NYMEX CRUDE ::
Cover short positions on dip to 80.44$-79.38$ as the opportunity arises.
Corrective dip to 80.44$-79.38$ can be used for buying with a stop loss of 78.5$.
Expect higher range of 82.3-85.22$ to be tested and can be used to exit long positions as the opportunity arises.
Sell on fall below 78.5$ with high of the day stop loss.
ZINC LME ::
Resistance is at 2420$
Support is at 2112$.
Traders by chance who are already short can keep a stop loss of 2420$.
Sell on fall below 2230$ with high of the day stop loss or 2420$ whichever is higher.
Buy on rise above 2420$ with low of the day stop loss.
Not much change has happened in last one week therefore the view remains same.
LEAD LME ::
The price movement for last 4-5 weeks is between 2355$-2095$.
Expect lower range of 2135$-2095$ to be tested.
Further downside movement can be seen on fall and close below 2095$.
The 14 week RSI is moving down indicating that near term slide is possible.
A non tradable situation for directional trader and only a breakout and close above 2355$ can offer momentum or a fall and close below 2095
VIEWS ON MCX COMMODITIES ::
MCX Gold Apr: Support was seen at 16305, the bounce from there has been impressive. Resistance will be at 16545 followed by 16605 now. Ideally resistances to cap for a decline lower towards 16230 or even lower towards 16035.
S1: 16345 S2: 16265 R1: 16485 R2: 16565
MCX Silver May: Resistance are at 26795 followed by 27000 now. Favored view expects a decline from the resistance levels towards 25935. Unexpected rise above 27140 to dent our bearish view.
S1: 26370 S2: 26190 R1: 26710 R2: 26890
MCX Copper Apr: Break above trendline resistance at 343/344 could alter the short-term bearish picture and take prices higher again toward 347 level. Failure to cross resistance at 344 could dampen bullish expectations. Such a fall could take prices below 330. Favored view now expects a rise higher.
S1: 337 S2: 333 R1: 344 R2: 348
MCX Crude Oil Apr: Saw a very impressive pullback. Resiistance will be seen at 3785 followed by 3820 now. Daily close above 3780 could bring in bullish hopes for a rally higher towards 3910 or even higher now.
S1: 3675 S2: 3635 R1: 3745 R2: 3785
MCX Zinc Mar: After yesterdays fall below 104.5, picture looks bearish. However, a break and close above 104.50/104.75 could re-inforce bullish hopes for 107-108 again.
S1: 102 S2: 101 R1: 104 R2: 105
MCX Lead Mar: While below 101, it is likely to dip further towards 95-96 levels. Unexpected rise above 101.50 to dent our bearish expectations.
S1: 98 S2: 97 R1: 100 R2: 101
MCX Nickel Mar: While below 1028 look for the decline to continue towards 975 or even lower towards 950. Unexpected rise above 1028 will force us to abandon our bearish view.
S1: 1009 S2: 997 R1:1029 R2: 1041
MCX Natural Gas Mar: A consolidation is underway between 184-190 now. Extreme oversold indications favor a pullback towards 205 or even higher.
S1: 185 S2: 181 R1: 191 R2: 195
ENJOY TRADING !!!!
LOOK FORWARD TO JOIN OUR PAID SERVICE FOR REAL TIME CALLS !!!
EARN RS. 10000 /- PER DAY GAURANTEED !!!!
MCX SILVER TRADING STRATERGY ::
Cover short positions on dip to 26438 or below as the opportunity arises.
Sell on fall below 26180 with high of the day stop loss.
Traders can take chances to buy on decline to 26438-26303 with asotp loss of 26180 and use rise to 26697 or above to exit long.
MCX GOLD TRADING STRATERGY ::
Sell on rise to 16474-16502 with a stop loss of 16511.
Expect lower range of 16332-16162 to be tested.
The 14 day RSI is moving down on further fall below 40 mark the slide can be more.
Buy on rise and close above 16511 with low of the day stop loss
SPOT GOLD ::
Keep a stop loss of 1110$ to hold short. Cover short positions on dip to 1101$-1093$ as the opportunity arises.
Sell on fall below 1088$ with high of the day stop loss.
A rise towards 1109$-1125$ is possible.
Broadly, a sideways movement between 1145$-1088$ is being witnessed.
SPOT SILVER ::
Cover short positions at 16.83 or below as the opportunity arises.
Expect higher range of 17.07$-17.46$ to be tested.
Corrective dip to 16.83-16.68$ can be used for buying with a stop loss of 16.58$ to exit at 17.07$-17.46$ range as the opportunity arises.
Sell on fall and close below16.58$ with high of the day stop loss.
NICKLE LME ::
A sideways movement in a band of 22990$-20525$ continues.
On the 14 Week RSI a negative divergence is being witnessed and a fall and close below 20500$ can bring about a slide.
Further upside momentum can be witnessed on rise and close above 23000$.
Exit long positions and use rise from current price to 23000$ to exit long and to sell with a stop loss of 23000$.
Buy only on breakout and close above 23000$
NYMEX CRUDE ::
Cover short positions on dip to 80.44$-79.38$ as the opportunity arises.
Corrective dip to 80.44$-79.38$ can be used for buying with a stop loss of 78.5$.
Expect higher range of 82.3-85.22$ to be tested and can be used to exit long positions as the opportunity arises.
Sell on fall below 78.5$ with high of the day stop loss.
ZINC LME ::
Resistance is at 2420$
Support is at 2112$.
Traders by chance who are already short can keep a stop loss of 2420$.
Sell on fall below 2230$ with high of the day stop loss or 2420$ whichever is higher.
Buy on rise above 2420$ with low of the day stop loss.
Not much change has happened in last one week therefore the view remains same.
LEAD LME ::
The price movement for last 4-5 weeks is between 2355$-2095$.
Expect lower range of 2135$-2095$ to be tested.
Further downside movement can be seen on fall and close below 2095$.
The 14 week RSI is moving down indicating that near term slide is possible.
A non tradable situation for directional trader and only a breakout and close above 2355$ can offer momentum or a fall and close below 2095
VIEWS ON MCX COMMODITIES ::
MCX Gold Apr: Support was seen at 16305, the bounce from there has been impressive. Resistance will be at 16545 followed by 16605 now. Ideally resistances to cap for a decline lower towards 16230 or even lower towards 16035.
S1: 16345 S2: 16265 R1: 16485 R2: 16565
MCX Silver May: Resistance are at 26795 followed by 27000 now. Favored view expects a decline from the resistance levels towards 25935. Unexpected rise above 27140 to dent our bearish view.
S1: 26370 S2: 26190 R1: 26710 R2: 26890
MCX Copper Apr: Break above trendline resistance at 343/344 could alter the short-term bearish picture and take prices higher again toward 347 level. Failure to cross resistance at 344 could dampen bullish expectations. Such a fall could take prices below 330. Favored view now expects a rise higher.
S1: 337 S2: 333 R1: 344 R2: 348
MCX Crude Oil Apr: Saw a very impressive pullback. Resiistance will be seen at 3785 followed by 3820 now. Daily close above 3780 could bring in bullish hopes for a rally higher towards 3910 or even higher now.
S1: 3675 S2: 3635 R1: 3745 R2: 3785
MCX Zinc Mar: After yesterdays fall below 104.5, picture looks bearish. However, a break and close above 104.50/104.75 could re-inforce bullish hopes for 107-108 again.
S1: 102 S2: 101 R1: 104 R2: 105
MCX Lead Mar: While below 101, it is likely to dip further towards 95-96 levels. Unexpected rise above 101.50 to dent our bearish expectations.
S1: 98 S2: 97 R1: 100 R2: 101
MCX Nickel Mar: While below 1028 look for the decline to continue towards 975 or even lower towards 950. Unexpected rise above 1028 will force us to abandon our bearish view.
S1: 1009 S2: 997 R1:1029 R2: 1041
MCX Natural Gas Mar: A consolidation is underway between 184-190 now. Extreme oversold indications favor a pullback towards 205 or even higher.
S1: 185 S2: 181 R1: 191 R2: 195
ENJOY TRADING !!!!
LOOK FORWARD TO JOIN OUR PAID SERVICE FOR REAL TIME CALLS !!!
EARN RS. 10000 /- PER DAY GAURANTEED !!!!
Monday, March 22, 2010
EXPECTATIONS FOR THE WEEK STARTING FROM 22nd MARCH 2010
INTERNATIONAL SPOT GOLD ::
Exit long on rise to 1111$-1121$ as the opportunity arises.
Sell on fall below 1088$ with high of the day stop loss.
Sell on rise to 1121$ with a stop loss of 1133$.
Buy on rise and close above 1133$ with low of the day stop loss.
INTERNATIONAL SPOT SILVER ::
Sell on rise to 17.09$-17.26$ with a stop loss of 17.62$.
Expect lower range of 16.76$-16.26$ to be tested.
NYMEX NATURAL GAS ::
Hold short positions with a stop loss of 4.31$.
Support of the gap is likely to be witnessed for some bounce.
Support will be at 4.10$-3.96$.
Cover short positions at 4.13$-4.09$ as the opportunity arises or hold short with the indicated stop loss.
NYMEX LIGHT CRUDE OIL ::
Sell on rise to 80.9$-81.95$ with a stop loss of 83.16$.
Support will be at 80$-79$.
Sell on fall below 79$ with high of the day stop loss.
TRADING STRATEGY ::
GOLD MCX APRIL ::
The buy call stop loss of 16638 was violated and the sell below 16638 got triggered. The low registered on Friday was 16431. Traders who managed to sell on fall below 16638 had the opportunity to benefit.
Sell on rise to 16564-16698 with a stop loss of 16803.
Cover the same on dip to 16378-16058 as the opportunity arises.
A close below 16400 with negative candle can continue the slide to test the low of 15963 subsqeuntly.
SILVER MCX MAY ::
In our update for Friday before the market started, we had indicated to Sell on fall below 26957 with high of the day stop loss.
The low registered on Saturday was 26542. Traders who managed to sell below 26957 had the opportunity to benefit.
Sell on rise to 26756-26931 with a stop loss of 27310.
Sell further on fall and close below 26330 with high of the day stop loss.
USD INR SPOT ::
Last week we saw a sideways movement above the support of 45.
A rise and close above 45.7 can bring about strength in Dollar and weakness on Rupee.
If 45 is not violated then a recovery and bounce back on USD is round the corner.
The long term wave structure also marked. As per it if 45 is violated on sustained basis then lower top and lower bottom sequence would continue for the target of 44-43.75 on conservative basis and overall the head and should pattern target could take in to 41.75.
A breakout and close above 45.7 could halt the fall from here on and recovery path for USD could be witnessed.
MCX Gold April: Resistance levels are at 16551 and at 16655. Price could dip below 16402, opening the way for 16222 or even 16000 now.
S1: 16426 S2: 16346 R1: 16586 R2: 16666
MCX Silver May: There is a stronger chance for the price to test supports near 26387/26074 or even 25449. Initial support will be at 26304. Resistance levels are noted at 26700, 26745 and 26934. Rise past 27090 could turn the picture neutral.
S1: 26440 S2: 26290 R1: 26740 R2: 26890.
MCX Crude Oil April: Bearish indications warns of a corrective dip to 3652 or even 3611. Resistance levels are at 3721 / 3748. The Price has to cross above 3780 to wriggle out of this bearish state and revive the bullish expectations.
S1: 3649 S2 3610 R1: 3730 R2: 3770
MCX Copper April: Still the picture has bullish hopes while below 335.50 levels. Ideally 335.50/336.50 could see basing signs again for a rise towards 347.50 levels or even higher. Will give up the bullish view on the break of 334.50.
S1: 336 S2: 332 R1: 344 R2: 348
MCX Zinc Mar: Resistances are at 104.50 followed by 104.90 now. Favored view expects resistances to cap for a decline towards 102.60 followed by a deeper fall towards 100.50. Unexpected rise above 105.85 to open dash our bearish hopes.
S1: 101.50 S2: 99.50 R1: 105.50 R2: 107.50
MCX Lead Mar: Rallies to 100.85/101 can be sold s/l 102.50 targets 97.50.
S1: 98 S2: 96 R1: 100 R2: 102
MCX Nickel Mar: Fall below 1015 could force us to abandon our bullish view in nickel. Such a fall could drag prices lower towards 995 initially followed by a deeper fall towards 945 levels.
S1: 1015 S2: 1005 R1: 1035 R2: 1045
MCX Natural Gas Mar: Dips to 187 can be bought for a target 194/198. SL 183.
S1:184 S2: 180 R1:190 R2:194
Monday, March 8, 2010
EXPECTATIONS FOR THE WEEK STARTING FROM 08.03.2010
EXPECTATIONS FOR THE WEEK STARTING FROM 08.03.2010 ::
SPOT GOLD:-Sell on fall below 1125$ with high of the day stop loss.
Buy above 1146$ with low of the day stop loss.
SPOT SILVER;-Traders who are holding long positions can keep a stop loss of 17$.
Fresh long can be undertaken on rise above 17.50$ with low of the day stop loss.
Sell on fall below 17$ with high of the day stop loss.
Traders if holding short position can keep 17.50$ as the stop loss.
NYMEX CRUDE:-Traders can hold long positions with a stop loss of 79.40$.
Fresh trading long positions can be taken above 82.1$ with low of the day stop loss.
NYMEX NATURAL GAS;-A retracement of the rise from 2.40$ to 6.10$ has been witnessed from April 09 to Jan 2010.
The retracement level are placed at 4.26$-3.80$.
Recovery and bounce can come from either of the level 4.26%-3.80$.
Traders short can keep a stop loss of 4.80$.
Sell further on fall below 4.54$ with high of the day stop loss
MCX GOLD TRADING STRATERGY:-
Traders by chance holding long position can keep a stop loss of 16810.
Expect higher range of 16981-17062 to be tested.
Buy on rise and close above 17100 with low of the day stop loss.
Sell on fall below 16767 with high of the day stop loss.
MCX SILVER TRADING STRATERGY'-
Traders holding long positions can keep a stop loss of 26590 to continue long.
Use rise to 27250-2745 to exit long and take profit on earlier long positions or try to move with stop loss.
Fresh trading Buy can be undertaken on rise above 27211 with low of the day stop loss.
Sell on fall below 26590 with high of the day stop loss
ALERT:- THIS WHOLE WEEK MCX MKT WILL BE SUBDED BY INR GAME WE MAY NOT GET CLEAR DIRECTION OR MAY DISTURB COMPLETE ANAYSIS DUE TO FLUCTUATIONS IN INR
Currency Signals
EUR/USD: 1.3681. Edge towards 1.378 and then rally
towards 1.397
USD/INR: 45.49. Likely to fall, but not before the initial
favoured rise towards 45.7-45.9
MCX Gold April: Supports are near 16775/16790 and maximum 16700. The view is bullish for a rise towards 17250/17310. Price needs to fall below 16670 to give up the bullish view. Below this next level appear near 16550. Favored view expects a rise.
S1:16835 S2:16755 R1:16975 R2:17055
MCX Silver May: Supports near 26550 could hold it from slipping lower to 26165 and rising towards 27640/27720 levels. We expect the rally to the end near 27565 and start drifting towards 26165/25850.
S1:26865 S2:26685 R1:27205 R2:27385
S1:26865 S2:26685 R1:27205 R2:27385
MCX Copper April: Supports at 340/341 to hold for a test of 353 levels or even higher. While above 335 price could even aim for 360/362.
S1:341 S2:337 R1:348 R2:352
MCX Crude Oil Mar: Supports near 3680 or 3655 could hold corrective dips if any for next rise towards 3800 or 3830. It has to fall below 3605 to cause doubts about this bullish view.
S1:3690 S2 3650 R1:3760 R2:3800
S1:3690 S2 3650 R1:3760 R2:3800
MCX Zinc Mar: Supports are at 105 followed by 104 now. Ideally, supports to hold for a rise towards 109.65 now.
S1:106 S2:105 R1:108 R2:109.
S1:106 S2:105 R1:108 R2:109.
MCX Lead Mar: Still in a volatile range of 98-103. Only a rise above 103.75 to reinforce bullish hopes for 108.
S1:101 S2:100 R1:103 R2:104
S1:101 S2:100 R1:103 R2:104
MCX Nickel Mar: Presently, 1009/1010 holding well. Ideally consolidation and a break above 1045/1050 to take prices towards 1085/1090.
S1:1010 S2:1000 R1:1030 R2:1045.
MCX Natural Gas Mar: Resistances at 211/212 to cap for a fall towards 205. Direct rise above 215 to result in a retracement towards 227/228 levels.
S1:208 S2:204 R1:214 R2:218
ENJOY TRADING !!!!!!!
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Wednesday, February 24, 2010
VIEWS FOR 24TH FEBRUARY 2010
MCX GOLD TRADING STARTERGY ::
-Sell on rise to 16638-16720 with a stop loss of 16768.
Expect lower range of 16510-16428 to be tested.
In case of close below 16527, the falling speed can get accelerate in subsequent days.
The 14 day RSI has moved above 50 and has come back below the 50 mark indicating that the pullback is complete. Now first retracement of the rise from 15963 to 16689 will be witnessed before making attempts to move higher above 16689. A trading trend line breakdown is also visible.
Failure to move past 16689 from here on would mean a major slide would be if offing. Fresh long can be undertaken broadly above 16689.
The retracement levels are placed at 16545, 16433 and 16321 respectively.
MCX SILVER TRADING STARTERGY:-
Sell on rise to 25023-25266 with a stop loss of 25435.
Expect lower range of 24612-24369 to be tested.
SPOT SILVER;-
Traders can Exit long positions on the rise to 15.9$-16.2$-16.64$.
Sell on rise to 15.9$-16.2$ with a stop loss of 16.55$.
Support is at 15.65$.
Sell on fall below 15.65$ with high of the day stop loss
SPOT GOLD;-
Traders can Exit long positions on rise to 1107$-1116$-1129$ as the opportunity arises.
Sell on rise to 1116$ with a stop loss of 1129$.
Sell further on fall below 1097$ with high of the day stop loss.
Buy on rise and close above 1032$
NYMEX CRUDE:-
Traders can exit long positions on rise to 79.15$-79.65$ as the opportunity arises.
Fresh long can be undertaken on rise and close above 80.80$.
Sell on fall below 77.7$ with high of the day stop loss.
NEWS:- China Daily’s report:China unlikelyto buy IMF’s191.3T of Gold. support seen at 1098 crucial below long liquidation seen,expect to hold for short bounce
MCX Gold April: Gold Support is still strong at 16507/ 16537 levels now. While this level holds we still expect bullishness for a break above
MCX Silver March: Rallies to 25309/25356 could find good resistance now and decline towards 24414/24571 llevels. Only a rise above 25500 could reinforce bullish expectations.
S1: 24684 S2:24504 R1: 25024 R2: 25204.
MCX Copper Feb: While 326.50 holds we expect rallies to 334.60/335.70 to find good resistance for a decline towards 326.50 levels or even lower. However, unexpected rise above 340 could diminish our bearish expectations.
S1:324.85 S2:320.85 R1:331.85 R2:335.85.
S1:324.85 S2:320.85 R1:331.85 R2:335.85.
MCX Crude Oil Feb: Resistances are at 3674.5 followed by 3692. Failure to cross 3697 could pressure prices lower again towards 3583 levels now.
S1: 3622 S2: 3582 R1:3692 R2:3732.
S1: 3622 S2: 3582 R1:3692 R2:3732.
MCX Zinc Feb: Pullbacks to 104-105 levels to find good resistance for a decline towards 102.00 again. Only a direct rise above 106. to alter the bearish pciture.
S1:100.80 S2:99.70 R1:102.80 R2: 103.90.
MCX Lead Feb: Resistance are at 104.30 followed by 105.45. Resistance to cap for a decline towards 101. This is our favored view.
S1:101.50 S2:100.40 R1:103.50 R2:104.60
S1:101.50 S2:100.40 R1:103.50 R2:104.60
MCX Nickel Feb: Fall below 938 has changed the picture to bearish. Dips to 911-15 should hold support for a rise again towards 965-75 levels.
S1: 920 S2: 911 R1: 940 R2: 951.
S1: 920 S2: 911 R1: 940 R2: 951.
MCX Natural Gas Feb: While below 230, the fall should continue towards 215 levels.
S1: 219.90 S2: 215.90 R1: 225.90 R2: 229.90
Tuesday, February 23, 2010
EXPECTATION FOR 23RD FEBRUARY 2010
MCX Gold April:
Support is now at 16629/16644 now. Stronger support is in the 16494 region. Ideally, supports to hold for 17110 followed by 17245. The bullish stance could be given up if price falls below 16403.
S1: 16612 S2: 16527 R1: 16772 R2: 16857
S1: 16612 S2: 16527 R1: 16772 R2: 16857
MCX Silver March:
Critical support is at 25112/25127 level now. Favored view expect support to hold for rise toward 25783 or even higher. Fall below 25018 to dash our bullish hope.
S1: 25090 S2:24910 R1: 25430 R2: 25610
MCX Copper Feb:
Any corrective dips to 327.80/328.80 to hold for a move towards 345 level. First we expect a correction towards 327.80. Failure to hold here could drag price toward 325.50/326.80 levels.
S1:331.50 S2:327.50 R1:339.70 R2:343.70
MCX Crude Oil Feb:
Crucial support is at 3618 followed by 3595. Fav view expect supports to hold for a test of 3764.Fall below 3567 to dent our bullish view.
S1: 3664 S2: 3624 R1:3734 R2:3774
MCX Zinc Feb:
Critical support at 103.50 followed by 102.85. Failure to hold support here could drag price lower toward 101.50.Fav view expect supports to hold for rally higher again.
S1:104.70 S2:103.70 R1:105.70 R2: 106.70
S1:104.70 S2:103.70 R1:105.70 R2: 106.70
MCX Lead Feb:
Supports are at 105 followed by 103.95 now.Supports expectedto hold for 107. Fall below 102.85 to hint at weakness.
S1:105.35 S2:104.35 R1:107.35. R2:108.35
S1:105.35 S2:104.35 R1:107.35. R2:108.35
MCX Nickel Feb:
Supports are at 933 followed by 927 now. Look for supports to hold and rise towards 965-967 levels.
S1: 931 S2: 921 R1: 951 R2: 961
MCX Natural Gas Feb:
While above 221 look for a pullback toward 236 level.
S1: 222 S2: 219 R1: 228 R2: 231
S1: 222 S2: 219 R1: 228 R2: 231
TRADING STRATEGY ::
MCX SILVER TRADING STRATERGY :-
The ADX is still falling and the upside movement is not getting the desired momentum. As the important support was some time back of 25935 was violated. The same has the resistance overhead therefore upside seems to be capped in spite of the chart look that price would move higher. This kind of behavior is the typical of pullbacks and lower top and lower bottom formation.
Exit long positions and sell on rise to 25378-25607 with a stop loss of 25725. Buy on rise above 25725 with low of the day stop loss
MCX GOLD TRADING STRATERGY :-
Exit long positions and sell on rise to 16744-16837 with a stop loss of 16889.
Fresh long can be undertaken on rise and close above 16890 with low of the day stop loss
SPOT GOLD :-
Traders still holding long positions can keep a stop loss of 1097$.
Use rise from current level of 1124$-1141$ to exit long positions.
A strong rise above the red color line with positive candle can bring about a further rally towards 1161$.
Sell on fall below 1097$ with high of the day stop loss
SPOT SILVER :-
Traders by chance still long and keep a stop loss of 15.65$.
Fresh trading long can be undertaken on rise and close above 16.55$ with low of the day stop loss
Monday, February 15, 2010
EXPECTATIONS FOR THE WEEK STARTING FROM 15TH FEB. 2010
MCX SILVER TRADING STRATERGY:-Traders can buy on rise above 24674 with low of the day stop loss or 24129 whichever is lower.
Sell on fall below 24129 with high of the day stop loss or 24674 whichever is higher
MCX GOLD TRADING STRATERGY:-
In our previous update for 11/02/10, we had indicated that if 16383 is crossed then long positions can be undertaken.
The high registered subsequently was 16515. Traders who managed to enter had the opportunity to benefit.
Corrective dip to 16421-16352 can be used for buying with a stop loss of 16285.
Expect higher range of 16589 to be tested.
The 14 day RSI is moving up now which suggest that minor pullback is in process.
Important resistance point is at 16815 which could be tested if momentum increases on the upside.
SPOT GOLD;-Hold long positions with a stop loss of 1077$ and look for rise to 1100$ or above to exit long.
Immediate resistance is at 1098$ and 1125$.
SPOT SILVER;-A sideways movement is being witnessed after a sharp slide. Resistance is at 15.7$-16.10$.
Support is at 15.15$-14.92$.
Failure to sustain at higher range will give a way down for fall.
NYMEX CRUDE:-Over all volatility in the range of 78.1$-69.5$ is likely to be witnessed.
Immediate resistance is at 75.7$.
Immediate support is at 72.5$.
MCX Gold April: Rise above 16617/16632 to go for 16723/16738 followed by 16770 levels. Ideally, resistance should be seen here. Supports are at 16466 followed by 16405.
S1: 16423 S2: 16343 R1: 16583 R2: 16663.
S1: 16423 S2: 16343 R1: 16583 R2: 16663.
MCX Silver March: Immediate resistance is at 24934/25093 followed by 25409 levels. Favored view expects resistance to cap for a decline towards 24063 or even lower. It has to rise above 25460 to suggest that it might not fall as per this expectation but could attempt to test 25884 or even 26280. S1: 25329 S2: 25200 R1: 25590 R2: 25720.
MCX Copper Feb: Supports are at 312.40/313.40 levels now. A consolidation between 312.40/321.60 expected before a break higher towards 325/326 levels. Fall below 310 to dent our bullish expectation. S1: 311 S2: 308 R1: 319 R2: 323.
MCX Crude Oil Feb: While above 3305 there could be a sideways consolidation. Resistance levels are near 3553/3576 and support is around 3390.Fall below 3390 would diminish the bullishness and could lead it to next supports at 3305 or the breakdown point at 3268.S1: 3395 S2: 3353 R1: 3473 R2: 3513.
MCX Zinc Feb: A consolidation is expected between 98/100.25. Favored view expects a break above 102 while above 98.00.S1: 98.40 S2: 96.40 R1: 102.60 R2: 104.60
MCX Lead Feb: Crucial support is at 96.00 now. Ideally, while below 98.50 we favour a break of 96.00 or even lower.S1: 96.40 S2: 94.40 R1: 100.40 R2: 102.40.
MCX Nickel Feb: Important resistance at 865/867 to cap now for a pullback towards 845\850 levels. Direct rise above 865 to target 880 levels now. S1: 854 S2: 847 R1: 870 R2: 879.
MCX Natural Gas Feb: Important resistance is at 261/263 levels now. Favored view expects resistance to be tested. Supports are at 254 followed by 252.S1: 247 S2: 240 R1: 261 R2: 269
Wednesday, February 10, 2010
VIEW FOR 10TH FEBRUARY 2010 -- MCX & COMEX
EXPECTATION FOR 10TH FEB, 2010
MCX Gold April: A, pullback, which we have been waiting for has materialized
to 16404/16435 levels as per expectations. We expect prices to rise towards
16560 levels now, only a break of 16600 can give way for further bullish moves.
S1: 16235 S2: 16188 R1: 16420 R2: 16580.
to 16404/16435 levels as per expectations. We expect prices to rise towards
16560 levels now, only a break of 16600 can give way for further bullish moves.
S1: 16235 S2: 16188 R1: 16420 R2: 16580.
MCX Silver March: As expected a break of 24356 took prices towards 24785-24865
levels. Support at 24373/24387 to hold for 24976. This is our favored expectation.
Only a fall below 23848 will force us to abandon our bullish view.
S1: 24385 S2: 24255 R1: 24645 R2: 24775.
levels. Support at 24373/24387 to hold for 24976. This is our favored expectation.
Only a fall below 23848 will force us to abandon our bullish view.
S1: 24385 S2: 24255 R1: 24645 R2: 24775.
MCX Copper Feb: Strong resistance will be seen at 310/312 levels now. While
below this levels we could see a corrective decline towards 301/302 levels now.
S1: 303.60 S2: 301.40 R1: 308 R2: 310.80.
below this levels we could see a corrective decline towards 301/302 levels now.
S1: 303.60 S2: 301.40 R1: 308 R2: 310.80.
MCX Crude Oil Feb: Resistance will be quite strong in the 3450-3497 zones.
Expect prices to get capped here for a decline towards 3125 ideally.
Strong support will be seen at 3373 now.
S1: 3396 S2: 3356 R1: 3476 R2: 3516.
Expect prices to get capped here for a decline towards 3125 ideally.
Strong support will be seen at 3373 now.
S1: 3396 S2: 3356 R1: 3476 R2: 3516.
MCX Zinc Feb: As expected we saw a sharp pullback towards 98.00 levels.
Dips to be cushioned in the 96-96.50 zones for a test of 100.25.Fall below
95.40 to dent our bullish exp.
S1: 96.40 S2: 94.40 R1: 100.40 R2: 102.40.
Dips to be cushioned in the 96-96.50 zones for a test of 100.25.Fall below
95.40 to dent our bullish exp.
S1: 96.40 S2: 94.40 R1: 100.40 R2: 102.40.
MCX Lead Feb: Supports are at 94.68 followed by 93.80. Supports could hold
for a test of 97.35-50.
S1: 93.40 S2: 91.40 R1: 97.40 R2: 99.40.
for a test of 97.35-50.
S1: 93.40 S2: 91.40 R1: 97.40 R2: 99.40.
MCX Nickel Feb: Strong resistance will be seen in the 830-31 zone now break of
this level will once again take prices higher towards 865-75 zone.
Supports are at 813-815.
S1: 815 S2: 809 R1: 829 R2: 834.
this level will once again take prices higher towards 865-75 zone.
Supports are at 813-815.
S1: 815 S2: 809 R1: 829 R2: 834.
MCX Natural Gas Feb: Rallies to 253-54 levels to be sold for a target of 235,
stop at 259.
S1: 242 S2: 236 R1: 254 R2: 260
stop at 259.
S1: 242 S2: 236 R1: 254 R2: 260
INTERNATIONAL ::
SPOT GOLD:-
Yesterday’s buy above 1079$ got triggered. Use rise to 1086$-1095$ to take profit.
Support will be at 1064$-1052$.
A minor pullback is being witnessed which can carry towards the red color line before a further slide.
Only a rise and close above 1125$ can bring about a reversal.
SPOT SILVER :
Exit short for the time being.
Expect higher range of 15.6$-15.95$ to be tested.
Corrective dip to 15.3$-15$ can be used for buying with a stop loss of 14.92$.
MCX GOLD TRADING STRATERGY:-
Hold short positions with a stop loss of 16383.
Intra-day traders can wait for rise above 16393 and when it falls below 16393 then sell with high above 16393 as the stop loss.
Support will be at 16220.
Sell on fall below 16220 with high of the day stop loss.
The 14 day RSI is showing intention to move higher but price not yet supporting convincing
MCX SILVER TRADING STRATERGY;-
Cover short positions on dip to 24428 or below as the opportunity arises.
Expect a rise towards the resistance of 24731-24948.
The 14 day RSI is trying to move up. ADX is also moving up still and when it turns then that can show short covering process.
Sell on fall below 24124 with high of the day stop loss
NYMEX CRUDE:-
A recovery was seen yesterday.
Expect volatility to be seen in the band of 78$-68$ in near term.
RSI is trying to move up therefore a rise towards 76$ is possible.
Corrective dip to 72$ can be used for buying with a stop loss of 70.
Tuesday, February 9, 2010
VIEWS FOR 9TH FEBRUARY 2010 - MCX & COMEX COMMODITIES
| MCX Gold April: Supports are at 16160/16206 to hold for rise towards 16573/16603 levels now. Fall below 16069 to dent our bullish expectations. S1: 16196 S2: 16116 R1: 16356 R2: 16436. MCX Silver March: Crucial support is at 23990 and while above here we can expect a pullback towards 25547 levels. However, break below 23943 to drag prices lower towards 22626 ideally. S1: 24101 S2: 23971 R1: 24361 R2: 24492. MCX Copper Feb: Supports at 295.30/296.30 to hold for a pullback towards 312/314 levels now. Fall below 292.20 could dent our bullish expectations. S1: 297 S2: 293 R1: 305 R2: 309. MCX Crude Oil Feb: Prices show several bearish indications favoring a decline towards 3175 or even 3105. Resistance levels are spread between 3406 / 3448.It has to rise past 3505 to get out of this bearish situation. S1: 3324 S2: 3284 R1: 3404 R2: 3444. MCX Zinc Feb: Supports at 93.75 followed by 93.10 to hold for 96.25 or 97.80. Fall below 92.30 will force us to abandon our bullish expectations. S1: 92.40 S2: 90.40 R1: 96.40 R2: 98.40 MCX Lead Feb: Rise above 93.75 / 93.85 will reinforce bullish expectations for 97.45 / 97.50. S1: 90.20 S2: 88.20 R1: 94.20 R2: 96.20. MCX Nickel Feb: Supports at 795 / 800 to hold well for a test of 825 levels. Fall below 795 could hint at a weakness. S1: 801 S2: 792 R1: 818 R2: 826. MCX Natural Gas Feb: Fall below 250 to confirm further weakness towards 235 levels or even lower. S1: 248 S2: 242 R1: 264 R2: 272 INTERNATIONAL SPOT GOLD :: Resistance will be at 1074$-1078$. Sell on rise to 1066-1070$ with a stop loss of 1078$. Sell on fall below 1060$ with high of the day stop loss. INTERNATIONAL SPOT SILVER :: Keep a stop loss of 15.4$ to hold short. Cover short positions on dip from current price to 14.6$. A rise and close above 15.4$ can bring about a near term pullback. NYMEX NATURAL GAS :: Sell on rise to 5.51$ or above with a stop loss of 5.7$. Buy on rise above 5.7$ with low of the day stop loss. NYMEX LIGHT CRUDE OIL :: Hold short positions with a stop loss of 74$. Cover the same on dip from current price to 68.5$ as the opportunity rises. Expect volatility in the range of 78.1$-68$. TRADING STRATEGY :: GOLD MCX APRIL :: Expect higher range of 16370-16421 to be tested. Intra-day traders can wait for a rise above 16370 and when it falls below 16370 then sell with high above 16370 as the stop loss. Sell on fall below 16220 with high of the day stop loss. SILVER MCX MARCH :: Hold short positions with a stop loss of 25000. Look for dip to 24221 or below to cover short position. Sell on fall and close below 23610 with high of the day stop loss. If the stop loss and resistance of 25000 is crossed on closing basis then we could find a pullback rise towards 26000. |
Monday, February 8, 2010
VIEWS FOR THE WEEK STARTING FROM 8TH FEBRUARY 2010
VIEWS FOR THE WEEK STARTING FROM 8TH FEBRUARY 2010
MCX Gold April: Price could rise in correction towards 16627/16688 area before next decline towards 15868 chances of an extension to 16871/16843 also looks likely.
S1: 16206 S2: 16126 R1: 16366 R2: 16446.
MCX Silver March: Supports at 23750/24070 to hold for a test of 24340-24520 or even higher before the next decline towards 23158 or ideally 22585/21927. Rise above 25300 could neutralise our bearish expectations S1: 24020 S2: 23730 R1: 24454 R2: 24585
MCX Copper Feb: Supports at 300/297 to hold for a pullback towards 317/319 levels now.
Fall below 296.85 could dent our bullish expectaions. S1: 296 S2: 292 R1: 304 R2: 308
MCX Crude Oil December: Prices show several bearish indications favoring a decline towards 3232 or even 3160. Resistance levels are spread between 3466 / 3510. It has to rise past 3567 to get out of this bearish situation. S1: 3334 S2: 3425 R1: 3545 R2: 3585.
MCX Nickel Feb: Could find resistance at 816/819 levels now. A break of 800 can create panic selling pressure towards 780 levels. This is our favored view. While below 816 target 804 and 784. Unexpected break of 826 can change this bearish expectations.
S1:804 S2:786 R1: 816 R2: 826
MCX Lead Feb: Ideally resisitance at 93.75 could drag prices again to 90.50 or even to 85 levels now. While below 94.10 target 92/91.Break above 96 can change this bearish picture. S1: 92 S2: 90.70 R1: 94.10 R2: 96.10.
MCX Zinc Feb: while trading below 95.60 levels sell for a target of 92. Break of 96 can negate this bearish view. S1: 92.10 S2: 91.50 R1: 95.90 R2: 97.30.
INTERNATIONAL SPOT GOLD ::
A minor pullback to 1075$-1084$ can be used.
For the time being traders can cover short positions at 1059$-1043$.
For the time being traders can cover short positions at 1059$-1043$.
Sell again on fall below 1043$ with high of the day stop loss
INTERNATIONAL SPOT SILVER ::
Cover short positions at current level or below.
Sell further on fall below 14.6$.
Sell further on fall below 14.6$.
Resistance will be at 15.4$.
A minor pullback is possible for immediate near term if the low of 14.6$ is not violated.
Expect higher range of 15.47$-15.8$ to be tested.
NYMEX NATURAL GAS ::
A range bound movement in the band of 6.10$-5$ continues.
Expect trading up move on rise and close above 5.6$.
Expect trading up move on rise and close above 5.6$.
NYMEX LIGHT CRUDE OIL ::
Cover short positions if any from current level to 68$ as the opportunity arises or hold short with a stop loss of 74$.
Resistance will be at 72.5$-74$. Support will be at 68$.
Resistance will be at 72.5$-74$. Support will be at 68$.
LEAD LME ::
The retracement of 1977$ has been tested last week.
Support will be at 1915$.
Support will be at 1915$.
On further fall below 1915$, expect a slide towards 1760$ at least and may be to an outer extent to 1549$.
Resistance will be at 2175$-2265$.
TRADING STRATEGY ::
SILVER MCX MARCH ::
Hold short positions with a stop loss of 24555 and cover the same at current price and on dip to 24222-24103.
Sell further on fall and close below 23610 with high of the day stop loss.
Sell further on fall and close below 23610 with high of the day stop loss.
Expect higher range of 24443-24561 to be tested.
ADX is moving higher a shown in the chart therefore the downside momentum could still be in place.
GOLD MCX APRIL ::
Cover short positions at current price and on dip to 16244-16172 as the opportunity arises.
Sell on fall below 15963 with high of the day stop loss.
Sell on fall below 15963 with high of the day stop loss.
A positive divergence on 14 day RSI is being witnessed now therefore if the low of 15963 is not violated from here on then we could see a near term pullback rise at least.
Sell further on fall and close below 15963 with high of the day stop loss. Higher range of 16357-16429 could be tested.
USD INR ::
A breakout has been witnessed. In our expect updates, our expectation was towards near term weaker rupee and the same has been witnessed.
Resistance will be at 46.9-47.10$.
Resistance will be at 46.9-47.10$.
A further breakout and close above 47.10$ can bring about a rally for Dollar.
Support for Dollar will be at 46-45.9.
Broadly a wider range of 47.10-45 and if a breakout is witnessed further in near term then significant weakness could be seen in Rupee. Expect resistance and profit booking on Dollar at 47.
Friday, February 5, 2010
VIEWS FOR 5TH FEBRUARY 2010 - MCX & COMEX
MCX Gold April: Resistance at 16312/16358 to cap any rallies for a test of 15860/16060 now. S1: 16050 S2: 15780 R1: 16320 R2: 16430. MCX Silver March: Resistances at 24600 followed by 24850 now should cap for further decline towards 23700. S1: 24050 S2: 23670 R1: 24600 R2: 24960 MCX Copper Feb: While below 298 it is expected to decline edge lower towards 289/280 levels now. Unexpected rise above 300 to begin a corrective up move towards 306 levels. S1: 287 S2: 278 R1: 298.70 R2: 306. MCX CrudeOilFeb:Resistance at 3446 followed by 3495 could cap for test of important support and break below 3378 targeting 3306. S1:3360 S2:3300 R1:3470 R2:3520 MCX Zinc Feb: Resistance at 95.10 followed by 95.85 to cap for a further decline towards 92.50. From there a strong recovery is expected. S1: 93.20 S2: 92.50 R1: 95.1 R2: 95.85 MCX Lead Feb: Resistance at 92.30 followed by 93.05 to cap for fall towards 89.75. Again a very strong recovery is expected from there. S1: 91.0 S2: 89.8 R1: 93.5 R2: 94.5. MCX Nickel Feb: Next support is at 818/20 now. We still hope this support could hold fror a break above 875. Unexpected break of 816 could drag prices towards 780 levels. S1: 817 S2: 801 R1: 838 R2: 845. MCX Natural Gas Feb: Resistance at 257 followed by 262 to cap for fall towards 236. Break below 236 will be very bearish.S1: 242 S2: 236 R1: 259 R2: 265 INTERNATIONAL SPOT GOLD :: The support of 1074$ was violated yesterday. Expect Gold now to slide towards 1014$-953$-888$. Gold slid to 1015$ is likely and will move below the 1000$ mark in time to come. Only a breakout and close above 1125$ can negative the possibility of Gold moving down to test each of the level 1014$-953$-888$ gradually. INTERNATIONAL SPOT SILVER :: Hold short positions with a stop loss of 16.4$. The 38.2% retracement of the entire rise from 8.63$ to 19.41$ which was at 15.03$was tested. The long term trend line shown has also got violated. Silver is likely to move down all the way to test the bottom in weeks and months to come with volatility of lower top and lower bottom formation. A bounce from either of the retracement level of 15$-13.9$-12.7$ could be witnessed for a pullback rally to make lower top. NYMEX LIGHT CRUDE OIL :: Exit long and sell on rise to 74.4$-76.5$ as the opportunity arises. Expect the lower range of 71$-68$ to be tested. Only a breakout and close above 78.10$ can prevent it from a slide towards 71$-68$ TRADING STRATEGY :: GOLD MCX APRIL :: Sell on rise to 16238-16430 and exit long with a stop loss of 16581. Expect lower range of 15896-15703 to be tested. SILVER MCX MARCH :: Sell on rise to 24827-25279 with a stop loss of 25608. Expect lower range of 24046-23594 ADX is moving up with the fall with indicates downside momentum. Important support of 25935 has been violated therefore major medium to long term reversal has been confirmed. Even if the rally come in near term the rise can make a potential lower top only |
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