Gold intraday trading analysis for 22 March 2011, we recommend to trade long in Gold above 1420 level with targets as 1425 and 1429. Stop loss should be placed below 1418 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]
Intraday Stock Trading For 22 March 2011: Buy SRTRANSFIN At 767, Target 776.5
Stock for intraday trading: Buy Shriram Transport Finance Company Limited (SRTRANSFIN) @ 767 for target: 776.5 and 785, place protective stop loss at 760. We see good supportive buying interest hence pushing this stock higher. At CMP (current market price) 767 it is already trading higher by more than 3.5%, and is more likely to be bullish today, So it seems to attract more buying interest in this ... [Continue Reading]
Nifty Futures Support Resistance Trading Level For 21 March 2011
After strong selling on last Friday, we have changed our sentiment from consolidation to bearish. Today Nifty futures is trading in tight range, before any further up move. We see this type of movement to continue for a week, before we see any breakout in either direction. When we speak about Nifty futures, the break below 5400 level will be treated strictly with strong selling by the market ... [Continue Reading]
Forex: EUR/USD Has 1.4215 Level Target For Next Week 21 March 2011
We have seen 250 pips move in EUR/USD last week and it was very strong after the breakout above the 1.40 level, after the strengthening of USD. So we are expecting this rally to continue upto its next resistance of 1.4215, which is a declining trend line's upper boundary on weekly chart. So we will be looking for buying opportunities as long as the pair holds above 1.3955 level. Also on lower side ... [Continue Reading]
Nifty Futures Likely to Target 5200 Level Next Week 21 March 2011
Markets failed to close above the comfort zone of 5555. This failure has already resulted in intense selling in the broader markets, Also the interest rate hike and the Japanese earthquake crisis fueled index to close lower, which brought Nifty below 5400 level last Friday. However, closing below 5400 in March 2011, continuing its down trend. Also on downside Nifty has potential to approach 5200 ... [Continue Reading]
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