After continuous buying, we saw nifty making series of higher high and higher lows all suggesting a strong uptrend. We have rallied from 5555 to 5900 in a very short period of time. Today Nifty futures is trading higher by 60 points, but still we will be trading cautiously as the technical indicators like RSI is loosing the momentum. This may be a chance to book profit for the long positions, also ... [Continue Reading]
Forex: EUR/JPY Trading Analysis for 30 March 2011: Buy Above 116.75
Intraday trading analysis (tips) for EUR/JPY 30 March 2011, we recommend, Enter long in EUR/JPY above 116.75 for target of 117.15 and 117.55 also place protective stop loss below 116.5. Reason to trade long: JPY was on downtrend and we see a selling opportunity on JPY. EURO has been showing some strength and is more likely to continue the current uptrend to test its resistance level. RSI support ... [Continue Reading]
Gold (Spot) Trading Analysis for 30 March 2011, buy above 1424
Gold intraday trading analysis for 30 March 2011, we recommend to add long positions in Gold above 1424 level with targets as 1428 and 1431. Stop loss should be placed below 1422 level. Reason to trade long on Gold : Gold has broken above its strong resistance of 1423, Also Gold has built the upward momentum from previous sessions. So we can conclude that this yellow metal is more likely to ... [Continue Reading]
Intraday Stock For 29 March 2011: Buy MPHASIS At 427, Target 437
Stock for intraday trading: Buy MPHASIS Limited (MPHASIS) @ 427 for target: 432.5 and 437, place protective stop loss at 422.9. We see good supportive buying interest hence pushing this stock higher. At CMP 427 it is already trading in positive zone by more than 6%, and is more likely to be bullish today, So it seems to attract more buying interest in this counter. Stock is trading with good ... [Continue Reading]
Nifty Futures Support Resistance Trading Level For 29 March 2011
After strong buying yesterday, we are expecting this rally to continue till 5760 level. Today Nifty futures is trading higher by 40 points, but still we will be trading cautiously as the 5756 level may act as strong resistance for today's trading (200 DMA on 4 Hour chart). We see some profit booking near this level. When we speak about Nifty futures, the break below 5756 level will bring some ... [Continue Reading]
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