Nifty future was trading in 5700 - 5950 range for last 22 sessions (about a month), heavily consolidating, yesterday we saw the breakout below 5700 level, suggesting more downside to come. Also keeping interest rate decision in mind by RBI yesterday we saw panic selling after the hike in interest rates by 50 bps. At CMP we will however remain bearish as long as nifty is trading below 5705 level ... [Continue Reading]
RBI Hikes Interest Rates by 50 bps on 3 May 2011
The benchmark equity indices made further declines into the negative territory during the previous one hour of trade and hit new intraday low as selling intensified among rate sensitive stocks after the Reserve Bank of India (RBI) in its first monetary policy review of 2012, raised repo and reverse repo rates by 50 basis points (bps), thus breaking its calibrated approach. The repo rate now stands ... [Continue Reading]
Forex: GBP/USD Trading Analysis for 3 May 2011: Buy Above 1.6585
Intraday trading analysis (tips) for GBP/USD 3 May 2011, we recommend, Enter long in GBP/USD above 1.6585 for target of 1.6625 and 1.6655 also place protective stop loss order below 1.6565. Reason to trade long: GBP/USD was on uptrend and we see a good buying opportunity. Strong GBP and weak USD is responsible for this strong up trend. So this up move is likely to continue from the current level ... [Continue Reading]
Forex: AUD/USD Trading Analysis for 3 May 2011: Buy Above 1.0885
Intraday trading analysis (tips) for AUD/USD 3 May 2011, we recommend, Enter long in AUD/USD above 1.0885 for target of 1.0925 and 1.0955 also place protective stop loss below 1.0865. Reason to trade long: AUD was on uptrend and we see a buying opportunity on AUS. AUD/USD pair has been making the series of higher high and lower low suggesting the strong trending market. Also making new high to ... [Continue Reading]
Forex: GBP/JPY Trading Analysis for 3 May 2011: Sell below 134.65
Intraday trading analysis (tips) on GBP/JPY for 3 May 2011, we recommend to trade Short (Sell) GBP/JPY pair below 134.65 for target of 134.25 and 133.85 keep stop loss above 134.85. Reason behind trading short: GBP/JPY pair has been trading in a bullish channel, but it has broke below the upper channel lower boundary. So trading in the direction of trend we will be looking for only selling ... [Continue Reading]
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