Thursday, 28 August 2014

Update on Gold, Silver, Copper and Crude oil










Gold




Support at 27750 and Resistance at 28050

Now will do fresh selling only close below 27750 mark else it could test its resistance level of 28050 again

Two consecutive closes above 28050 will take to 28200---28300 and then to 28550 mark in days to come

Traders can trade in a range with levels only and wait for conformation



Silver (Dec)



Support at 42500 and Resistance at 43200---43600

For short term... Looks positive and could test its resistance level of 43200---43600 mark

Three consecutive closes + weekly close above 43600 will take to ???

Fresh selling can initiate only weekly close below 42500 mark

Trade with levels only



Copper (Nov)



Support at 430 and Resistance at 437---441

Two consecutive closes + weekly close below 430 will take to 423---418 mark in days to come else it could test its resistance level of 437---441 again

Further upside rally seen only weekly close above 441 mark

Trade with levels only and wait for conformation



Crude oil



Support at 5640 and Resistance at 5730---5780

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















































More will update soon...

Daily EUR, GBP,JPY and USDINR Outlook





USDINR

Today, a break below 60.75 levels could result in test of 60.50 levels and below it 60.37 levels, else the pair may take short term consolidation in the range of 60.80-61.00 levels. On the other hand, a breakout of near term resistance above 61.15 levels only may push USDINR towards 61.20-61.50 levels. 

 Intraday Call Update - Yesterday carry forwarded  sell call  made a low 60.71.. target was 60.68. 

EURINR

On Wednesday, EURINR gave a gap down opening at 80.1950 levels from Tuesday close of 80.3850 levels and closed down by 0.29% at 80.15 levels. 

On weekend negative aspect remains to continue which may drag EURINR towards 80.20-80.00 levels and hence, sell below 80.05 is recommend with short term stop loss of 80.25 levels.

Above 80.35, buy with stop loss 80.25. 

 Intraday Call Update - Yesterday carry forwarded  sell call  has been stopped out at 80.25. 

GBPINR

GBPINR rebounded from the day low of 100.52 levels and closed at 100.85 levels. Today, short term pull back could be possible till 101.10-101.20 levels following a long bullish candle stick formation as well as possible trend reversal in the GBPUSD which may add some strength in GBPINR too. 

Hence, traders can buy GBPINR around 100.60-100.58 with stop loss of 100.50.

JPYINR

JPYINR traded in small range of 58.50-58.60 levels on Wednesday. A small white candle stick formation is signaling for short term pull back towards 58.80-59.10 levels.

 Intraday Call Update - Yesterday carry forwarded buy call hit 58.81.. second target is 58.88. Above 58.88 add/hold for 59.00.







More will update soon...



Thought for the day






Wednesday, 27 August 2014

Daily Commodity Update

 BULLIONS

SILVER has support of 41940,a break below 41940 it may take correction till 41500-4130 while resistance is at 42200 -42300 level On the downside

 Gold has support at 27840 and resistance 27940---28020. Traders can trade in a range with strict stop loss as trend looks choppy and has no clear direction.

ENERGY
A doji candle stick formation on EOD chart is indicating for indecision among crude oil traders.  Today, Crude oil inventory will decide short term trend for its near term support is seen at 5640 and resistance at 5730---5780. Traders can trade in a range with strict stop loss and wait for conformation

Energy Information Administration (EIA) will release its data later today.

BASE METALS

Today, Copper has support at 422 and resistance at 428-433. Traders can trade in a range with strict stop loss and wait for conformation as trend looks choppy and has no clear direction.

SOYBEAN/ SOIL OIL

oday, Soyabean has support at 3330 and resistance at 3380---3430 and Soya ref has support at 622---618 and resistance at 628---629.50. Traders can buy and accumulate Soyaref in panic with strict stop loss below 605 on closing basis.







More will update soon...


Currency Outlook - April-June BoP data may bring big move in USDINR..and EURUSD broke down to a new 11-month low.





 USDINR 

USDINR traded above the near term support of 60.75 and settled

 at 60.9075, down 0.16%. On Wednesday bearish move in UDINR 

is expected towards 60.75 levels following to a rising channel line

 breakdown. On the other hand, a breakout of near term resistance 

61.15 only may push USDINR towards 61.20-61.50 levels.



Furthermore, India April-June balance of payment data is lineup 

in days to come. No fixed date for release (for the quarter ended 

March was fell sharply to 0.2% of GDP ($1.2 billion) from 3.6% 

($18.1 billion) released on 26th May 2014) this sentiment may 

capped the USDINR.




Intraday call Update  -  Carry forwarded USDINR sell call

 recommended from 60.95-60.96 almost hit target 60.80. recent

 low 60.8050. Further more, a break below 60.75.. could expect 

correction towards 60.50.. 


EURINR

On Tuesday, EURINR closed 0.22% down at 80.32 levels, and sell 

on rise strategies around 80.75 was not initiated as EURINR 

pulled from the day high of 80.5875. On Wednesday negative 

aspect remain favored towards 80.20-80.00 and sell around 80.58-

80.55 is recommend with short term stop loss of 80.70


The EURUS broke down to a new 11-month 

trough of $1.3154 on Wednesday, taking it nearer to the Sept. 6 

low of $1.3104 which also doubles as major chart support was 

close to cracking on Wednesday as feverish  speculation of further 

policy stimulus in the euro zone drove bond  yields to all time lows and gave a fillip to stocks globally.



Intraday call Update  -  EURINR cracking... 80.48 >>>>80.10.. second target is 80.05 book part profits.Below 80.05 next target 79.80 with revised sl 80.20 


GBPINR

The intraday price movement was negative in GBPINR on 

Tuesday. Today, bearishness will expect to continue on absence of 

bullish reversal signal in the Pair while negative trend in to the 

GBPUSD will continue to support in intraday selling in GBPINR 

too. Hence, traders can go short around 101.10-101.05 with stop 

loss 101.25.

Intraday call Update  -  Carry forwarded GBPINR sell call 

recommended from 101.02-101.. now made a low 100.52 and 

trading at 100.66.book part profit around 100.60-100.55. below 

100.50 will next target 100.25 with sl 100.62..


JPYINR


JPYINR traded above the near term level support of 58.60 and 

settled at 58.61. A black opening Marobozu candle stick Formation  is signifying for continuation of recent bearish trend but this would be possible only below 58.55-58.60 levels. Till then short term pullback is expect for the upside level of 58.80-59.10 levels.

Intraday call Update  - Carry forwarded JPYINR buy call sl 
triggered at 58.58.. Recommended around 58.69-58.















More will Update Soon...

Thought for the day










Tuesday, 26 August 2014

Update on Agri Commodity












Soyaref




Below 618... Our target was 613---609 and then to 605. Crashed and made a low of 605.40 mark in yesterday's trading session and bounced back. 

Too sent message to buy Soyaref around 611---610 mark. Spurts and made a high of 623

Now what to expect???

Support at 616 and Resistance at 624

Two consecutive closes above 624 will take to 630---633 and then to ???

Else it could test its support level of 616 again

Close below 616 will see further panic till 611---609 and then to 605 mark

Overall trend looks positive and in panic will buy... Positional stop loss below 605



Soyabean



Support at 3330 and Resistance at 3380---3430

Three consecutive closes + weekly close below 3330 will take to 3250---3180 mark in days to come else it could test its resistance level of 3380---3430 again

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




Chana



Crashed from 2970---2852. We booked full profit around 2870 mark

Now what to expect???

Support at 2830 and Resistance at 2880---2930---3020

Three consecutive closes + weekly close below 2830 will see free fall in Chana in days to come else it could test its resistance level of 2880 and then to 2930---2980---3020 again

Trading range: 2830---3020

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



Castorseed



Support at 4120 and Resistance at 4180---4220

Two consecutive closes below 4120 will take to 4030---3970 mark in days to come else it could test its resistance level of 4180---4220 again

Traders can trade with levels only and wait for conformation



Rmseed



Levels pays... Nothing else, 

As expected... Rmseed flared and made a high of 3587. Above 3460... our target was 3520---3570 mark

Now what to expect???

Support at 3520---3460 and Resistance at 3590---3630

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




CPO



Crashed from 488---466.50 mark.... Yesterday we recommended fresh buying around 475 mark

Now what to expect???

Close above 483 will see further upside rally till 488---491 and then to 496

Traders holding long in CPO can revise stop loss below 475 on closing basis

Others can trade with levels only



Mentha oil



Crashed vertically and made a low of 665. We recommended selling below 696 mark

Now what to expect???

Support at 665 and Resistance at 680

Close below 665 will see further panic till 650--640 mark in days to come

Trade with levels only and wait for conformation







































More will update soon...

Daily Currency Outlook







       
USDINR - 

USDINR consolidated in between 60.84-60.90 levels on Monday. A rising channel breakdown at 61.10 on EOD chart was there which is indicating for short term correction till 60.75 levels again. Near term resistance is at 61.10 levels and sustained trade above it will open to test 61.30-61.50 levels. Else, the pair may consolidate around 60.80 level.


EURINR 

EURINR extended its recent bearish trend and made multiple week low of 79.75 in August Future. In near term pair is expected to take extend recent decline towards 80.00-79.70 levels but after some pullback towards 80.75-80.80 levels. Hence, sell on rise strategy is recommended for Tuesday.



GBPINR 

The intraday price movement was volatile to positive in GBPINR on Monday. A long bullish candle stick formation on EOD chart is indicating for short term pullback in September GBPINR towards 101.67 CMP 101.13.



JPYINR 

A broadening wedge pattern breakdown was worked on Monday trading too where JPYINR gave a big gap down open at 58.0850 from previous close of 58.3625. However during the day time small pullback was noted from this low towards 58.3625. On Tuesday, JPYINR is expected to stay in its recent and short term selling is expected on rise till 58.90-59.00 levels

















More will Update soon... 


Thought for the day