Nifty futures has been trading almost flat for last 1 week due to lack of liquidity in the markets. We see a resistance level do exist near 6041 level, so our initial strategy for today is to wait for breakout in nifty futures above 6046 level for intraday targets of 6072 and 6093. Nifty is trading flat with limited downside holding 5989 strong support, but strong resistance at 6043 level may keep ... [Continue Reading]
Forex: Day Trading Analysis on EURO: Sell EUR/USD Below 1.3165
Intraday trading analysis (tips) on EUR/USD for 27 December 2010, we recommend Short (Sell) EUR/USD Below 1.3165 for target of 1.3115 and 1.3075 keep stoploss above 1.3185. Why to go Short: This pair has been trending downward. So we expect the pair should further weaken to test its new support level (1.3115) on intraday basis following its current trend. Hence trend should be bearish for today's ... [Continue Reading]
Gold (Spot) Trading Analysis for 27 December 2010, Sell below 1385
Gold spot intraday trading analysis for 27 December 2010, Gold intraday trading tips, Short (Sell) positions in Gold below 1385 with targets as 1376 and 1370. Stoploss should be placed around 1390 level. Why to go Short: Gold is trading sluggish today also the price is capped by the declining trend line and facing strong resistance near 1388 levels, showing consolidation and hence should trade ... [Continue Reading]
We Expect Nifty to Give Breakout Next Week to 6070 Level
As we saw Nifty trading in tight range throughout the week, we are now seeing that this consolidation cannot be ruled out to more extend. So a positive breakout is expected targeting 6070 levels followed by short covering and fresh long positions. When we talk about nifty futures we are more likely to bounce back to 6070 levels. Technically nifty is having strong resistance at 6070 level. ... [Continue Reading]
Forex: Day Trading Analysis on EUR/USD: Sell EUR/USD Below 1.3135
Our intraday trading analysis on EUR/USD for 23 Dec 2010, we recommend Short (Sell) EUR/USD Below 1.3135 for target of 1.3085 and 1.3055 keep stoploss above 1.3155. Why to go Short: This pair has been trending downward. So we expect the pair should further weaken to test its new support level (1.3055) on intraday basis following its current trend. Hence trend should be bearish for today's session ... [Continue Reading]
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