As we saw Nifty trading in tight range throughout the week, we can even call it consolidation, we are now seeing that this consolidation cannot be ruled out to more extend. So a short covering rally is expected targeting 5850 levels. When we talk about nifty futures we are more likely to bounce back to 5850 levels. Technically nifty is having strong resistance at 5744 level. Support at 5615 and ... [Continue Reading]
EUR/USD Intraday Trading Analysis: Buy EURO Above 1.3515
Intraday trading analysis (tips) on EUR/USD for 21 January 2011, we recommend Long (Buy) EUR/USD Above 1.3515 for target of 1.3555 and 1.3585 keep stop loss below 1.3495. Why to go Long: This pair has shown positive breakout and is firmly trading above the intermediate resistance of 1.3495 level today, so the uptrend must continue till the next resistance of 1.3585 level on 4 hour chart, trading ... [Continue Reading]
Gold (Spot) Trading Analysis for 21 January 2011, Sell Below 1354
Gold spot intraday trading for 21 January 2011, Gold intraday trading tips, Add Short (Sell) positions in Gold below 1354 with targets as 1342 and 1337. Stop loss should be placed near 1358 level. Why to go Short on Gold : Gold was trading lower challenging its support of 1342. But 4 hour chart tells us we have now downside till we are below 1358 level. So gold should see more selling pressure, ... [Continue Reading]
Reliance Ind. (RIL) Q3 Net Profit Surges 28.14% at Rs.5136cr
India's largest company by market cap, Reliance Industries Ltd. (RIL) has announced its Q3 results today, reporting net profit up 28.14% at Rs.5136 crore against Rs.4008 crore previous quarter. Net sales were up 5.15% at Rs.59,789 crore against Rs.56.856 crore. Its cash profit was found to be at Rs.8,695 crore and GRM now stands at US $9 per barrel against US $5.9 per barrel previous year. However ... [Continue Reading]
Nifty Futures Support Resistance Level For 20 January 2011
Nifty future is now in consolidation before any breakout, we are however bearish as long as nifty is trading below 5744 level. Downside risk is now limited and is upto 5615 level. If nifty is able to sustain above 5744 level for 2 days then we will see a short covering rally towards 5850 level. For intraday trading we recommend to look for buying opportunity near 5615 level for intraday targets of ... [Continue Reading]
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