EURCHF traded below the floor price set by SNB (Swiss National Bank), we have seen it trading at 1.1987 today. However SNB stepped in and soon EURCHF shot towards 1.2025 level, this fall in EURCHF will be short lived as SNB has promised that it is going to buy unlimited amount of foreign exchange to prevent CHF to strengthen further. Just after breaking below 1.20 level, SNB chief said that Swiss ... [Continue Reading]
Short sell Nifty Future near 5350 for Intraday target 5320, Weakness in Global markets
We are posting intraday trading call on nifty future, we advice traders to go short on nifty future near 5350 level for intraday trading target as 5320, placing stop loss orders just above 5360 level. Yesterday US FOMC meeting showed that no further easing was needed for US economy to propel growth, which increased demand for USD looking at sentiment index we see retail traders sentiment has ... [Continue Reading]
Intraday Stock: Buy RelCapital near 405, Target 411 Stock Oversold
Intraday stock pick is on reliance capital stock, we have seen this stock is right now in oversold region. We may see some bounce in the stock, so we recommend traders to buy relcapital stock near 405 level we have intraday targets as 411 and then 414 levels. Stop loss must be around 402 level. Nifty future is also trading higher hence it may seen that this stock will also participate in rally, ... [Continue Reading]
UK Released Weak GDP Data: Short Sell GBPUSD, Bearish for Medium Term
Today UK has released its Q4 and annual GDP numbers, we saw UK's economy slowing in its last quarter of FY11-12. The data that came out was -0.3% QoQ basis and 0.5% YoY basis as compared to -0.2% QoQ and 0.7% YoY previously. We may see under-performance in GBP currency in forex market, so taking view of medium term we advice forex traders to take short positions on GBPUSD around 1.595 level for ... [Continue Reading]
Nifty Future down 136 points Today, Huge Selling in Afternoon Session
Nifty future was trading lower by more than 125 points, major part of selling was due to poor data released from European in afternoon at 1:30pm IST. Also china PMI came lower suggesting confidence in Chinese economy is getting lower due to lower growth target. We saw commodities were trading lower on that account, thus creating strength in USD. In Europe just after the data was released we saw ... [Continue Reading]
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