Tuesday, 28 April 2015

“Anything worth doing, is worth doing right.”







Gold



As expected.. Gold unable to breach its support level of 26600 and bounced back sharply and now trading around 27050

Now what to expect???

Gold has support at 26600 and Resistance at 27000

Two consecutive closes above 27000 will take to 27450---27600 and then to 27900 mark in days to come

Fresh selling can initiate only close below 26600 mark

Trade with levels only




Silver




Told to sell Silver around 36150 with stop loss of 36350. Stop loss triggered in our risky buy call. 

Again put message to buy Silver around 36350---36300 with stop loss of 35750. It skyrocketed and made a high of 37323 and now trading around 37100

Now what to expect???

Support at 36700---36200 and Resistance at 37400

Decisive break and close above 37400 will take to 37800---38300+ mark in days to come

Else it could test its support again

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



Copper




Support at 383 and Resistance at 388

Two consecutive closes above 388 will take to 393---398+ mark in days to come else it could test its support again

Below 383 will take to 380---378 again

Further panic seen only weekly close below 378 mark. Till then traders can trade in a range with strict stop loss and wait for conformation


Nickel


Our positional buy call in Nickel proven great and made a high of 867. Our initial target was 865

Now what to expect???

Two consecutive closes above 865 will see further upside rally till 890---905 and then to 955

Support at 825---810




Aluminium




Support at 115 and Resistance at 117.50

Close above 117.50 will take to 119---120.50+ mark in days to come

Already booked part profit. Maintain stop loss of 115



Zinc



Our upper side target almost achieved as it made a high of 146.65 in yesterday's trading session

Now what to expect???

Support at 143 and Resistance at 147

Three consecutive closes + weekly close above 147 will take to ???

Fresh selling can initiate only close below 143 mark

Trade with levels only





Crude oil


Support at 3570---3520 and Resistance at 3730

Either side break or close with volume will decide further. Till then traders can trade in a range with strict stop loss and wait for conformation

Anything seems will update via SMS



Natural Gas



Support at 154 and Resistance at 164---169

Three consecutive closes + weekly close below 154 will take to 140---130 mark in days to come else it could test its resistance again

Further upside rally seen only close above 169 mark

Trade with levels only

































More will update soon...

Daily Currency Outlook - USDINR may show consolidation ahead of U.S FOMC meeting







Image result for dollar vs inr 




Dollar/rupee fell from intraday high on likely intervention by the Reserve Bank of India to curb a sharp bout of volatility in the local currency.

Technical Review & Recommendation

After a big positive journey in last couple of days USDINR saw a consolidation around 63.60 levels and settled at 63.5150, down by 0.15%.

Today, April future expiry related volatility could be expect in the pair but it’s expected that any downside consolidation around 63.50 May Future (LTP 63.9075) could provide valid buy entry as short term trend still positive in pair.

Recommendation

Buy around 63.50 Target 63.80-64.00. Stop loss below 63.35.


Image result for dollar vs euro 
 
EURINR (May Future)

Succinct Summary of Previous Day

Euro 2-day gains during European trades Monday after talks between Greece and its creditors ended in stalemate post the euro-group meet in Latvia last week. 

 ECB said during the meet that additional funds would not be extended to Greece unless terms of the bailout are met. 

The meeting to be held on April 29 will keep the ECB under tremendous pressure to keep Greece afloat in the euro area

Technical Review & Recommendation

Sell around 69.10-69.00 strategy was rocked yesterday with EURINR drop towards 68.7150 levels and settled at 68.8650 levels. 

 In near term bearishness will expect to continue following to a strong resistance level of 69.80 in May future (LTP 69.2450).

 A break above 69.80 may confirm the possible upward move towards 71.50-72.50-73.00 levels else any jump towards 69.60 could attract huge selling pressure in days to come.

Recommendation/ View :

Sell on rise around 69.35-69.40 Stop loss above 69.50. Target 68.80-68.50.



 Image result for dollar vs gbp
GBP (May Future)

Succinct Summary of Previous Day

 Pound snapped a four-day gaining streak ahead of the release of Britain's Gross Domestic Product amid growing uncertainty over the outcome of the elections in the United Kingdom.

Technical Review & Recommendation


Today, 97.40 in MAY FUT will act as a strong resistance and a break above this level will expect to test 97.60-98.00 levels. 

On the downside 96.95 will be the massive support below this level possible correction could expect towards 96.50-96.20.



Image result for dollar vs yen
Japanese Yen

Today, a break below 53.50 in May Future may give further correction in JPYINR for the downside target of 53.20-53.00 else pair may consolidate around 53.60-53.80 before fresh bearish move.

Recommendation/ View :

Sell JPYINR MAY below 53.40 Targets 53.20-53.00. Stop loss 53.60.
 



Major Economic Data & Events Schedule today

Time
Currency
Economic Indicators
Forecast
Previous
Possible Impact
5:20am
JPY
Retail Sales y/y
-7.40%
-1.70%
Negative
5:30am
AUD
CB Leading Index m/m
-
0.40%
-
2:00pm
GBP
Prelim GDP q/q
0.50%
0.60%
Negative

GBP
BBA Mortgage Approvals
37.9K
37.3K
Positive

GBP
Index of Services 3m/3m
0.70%
0.80%
Negative
6:15pm
CAD
BOC Gov Poloz Speaks
-
-
-
6:30pm
USD
S&P/CS Composite-20 HPI y/y
4.70%
4.60%
Positive
7:30pm
USD
CB Consumer Confidence
102.6
101.3
Positive

USD
Richmond Manufacturing Index
-2
-8
Positive
                                                    
Impact: High Low Medium











 More will Update soon..