Nifty Futures Support Resistance Level For 29 December 2010

by Bhaveek Patel

Nifty future is trading higher today after long period of consolidation. We have now changed our view from consolidation to bullish in short term. We will now look for buying opportunity near 6050 levels for short term target of 6095, at higher levels we are going to find resistance at 6070 level, which is strong resistance now. Once we break this resistance we will witness more buying upto its next resistance of 6098 level. So .....

Forex Trading Analysis on EUR/USD: Buy EUR/USD Above 1.3195

by Bhaveek Patel

Intraday trading analysis (tips) on EUR/USD for 28 December 2010, we recommend Long (Buy) EUR/USD Above 1.3195 for target of 1.3245 and 1.3265 keep stoploss above 1.3175. Why to trade Long: This pair has shown positive breakout above 1.3185 level today, so the trend must follow till its first resistance of 1.3245. So we expect the pair should further strengthen to test the resistance of 1.3245 level on intraday basis. Hence trend should be bullish .....

Gold (Spot) Trading Analysis for 28 December 2010, Buy Above 1392

by Bhaveek Patel

Gold spot intraday trading for 28 December 2010, Gold intraday trading tips, Long (Buy) positions in Gold above 1392 with targets as 1399 and 1405. Stoploss should be placed around 1386 level. Why to go Long on Gold : Gold was consolidating near 1385 to 1369, but a breakout of 1391 is a positive breakout and gold will not try to touch 1405 levels. We have a bullish outlook for gold today. Short term and .....

Nifty Futures Trading Levels For 28 December 2010

by Bhaveek Patel

Nifty futures has been trading almost flat for last 1 week due to lack of liquidity in the markets. We see a resistance level do exist near 6041 level, so our initial strategy for today is to wait for breakout in nifty futures above 6046 level for intraday targets of 6072 and 6093. Nifty is trading flat with limited downside holding 5989 strong support, but strong resistance at 6043 level may keep markets in short .....

Forex: Day Trading Analysis on EURO: Sell EUR/USD Below 1.3165

by Bhaveek Patel

Intraday trading analysis (tips) on EUR/USD for 27 December 2010, we recommend Short (Sell) EUR/USD Below 1.3165 for target of 1.3115 and 1.3075 keep stoploss above 1.3185. Why to go Short: This pair has been trending downward. So we expect the pair should further weaken to test its new support level (1.3115) on intraday basis following its current trend. Hence trend should be bearish for today’s session (27 December 2010).

Gold (Spot) Trading Analysis for 27 December 2010, Sell below 1385

by Bhaveek Patel

Gold spot intraday trading analysis for 27 December 2010, Gold intraday trading tips, Short (Sell) positions in Gold below 1385 with targets as 1376 and 1370. Stoploss should be placed around 1390 level. Why to go Short: Gold is trading sluggish today also the price is capped by the declining trend line and facing strong resistance near 1388 levels, showing consolidation and hence should trade low to approach its support near 1376 level today. We .....