Nifty futures finally managed to close above resistance 5555 (200 DMA on 4 Hour chart) mark yesterday. This may result in bounce towards 5600 and then 5655 levels. As nifty is now firmly trading above 5555 level we expect strong buying will support the broader markets to recover and now we will be buying at every dip, targeting the 5650 zone. So seeing this as a good buying opportunity we ... [Continue Reading]
Forex: EUR/USD Trading Analysis for 24 March 2011: Buy EURO above 1.4125
Intraday trading analysis (tips) for EUR/USD 24 March 2011, we recommend, Enter long (buy) EUR/USD) above 1.4125 for target of 1.4165 and 1.4195 also place protective stop loss below 1.4105. Why to trade long: The pair finally trading strong and is showing strong trending markets. Also EURO has strongly accumulated upward momentum and is firmly trading above its resistance level targeting next ... [Continue Reading]
Gold (Spot) Trading Analysis for 24 March 2011, Buy above 1435
Gold intraday trading analysis for 24 March 2011, we recommend to trade long in Gold above 1435 level with targets as 1442 and 1449. Stop loss should be placed below 1431 level. Reason to trade long on Gold : Strong buying is supporting this yellow metal, on news such as libya and souring crude oil prices. So at current level gold seems to be attractive, hence its a good buying opportunity. Daily ... [Continue Reading]
Nifty Futures Intraday Support Resistance Trading Level For 23 March 2011
Even though Nifty future is trading higher today, but it is still below its extreme resistance level of 5555, we will however remain bearish as long as nifty is trading below 5555 level (on closing basis). Risks are emerging as technical indicators are gaining the upward momentum from current levels. We will advice traders to stay short in today's market, unless nifty futures closes above 5555 ... [Continue Reading]
Forex: GBP/JPY Intraday Trading Analysis for 22 March 2011: Sell below 132.75 for Target 132.15
Intraday trading analysis (tips) on GBP/JPY for 22 March 2011, we recommend to trade Short (Sell) GBP/JPY pair below 133.75 for target of 132.15 and 131.75 keep stop loss above 133.05. Reason behind trading short: This pair is finding resistance near its 200 DMA line on 4 Hour chart, which confirms the bearishness. So, we will be looking for selling opportunity in this pair as long as it trades ... [Continue Reading]
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