All the major oil marketing companies in India were forced to hike the prices of petrol by Rs.2.96 per liter w.e.f Tuesday midnight (15 Dec 2010), as we saw a surge in the crude oil price in last week. This will definitely create a pressure on the economy, as we may again see inflation surging ahead. ... [Continue Reading]
Nifty Futures Support Resistance Level For 14 December 2010
Nifty future has finally found support at 5750 level, forming double bottom. We have now changed our view from bearish to consolidation in short term. We will now look for buying opportunity near 5850 levels for short term target of 5995, at higher levels we are going to face resistance at 5996 level, which is strong resistance. Once we cross this resistance we will witness short covering rally ... [Continue Reading]
Intraday Trading Analysis on EUR/USD: Buy EUR/USD Above 1.3225
Our intraday trading analysis on EUR/USD, we recommend Long(Buy) EUR/USD Above 1.3225 for target of 1.3285 and 1.3315 keep stoploss above 1.3205. Why to go Long: This pair has been trading with huge volatility for last few sessions, but today it has given breakout of 1.3225 level and is now trading near 1.3245 so we expect the pair should further strengthen to test 1.3295 level on intraday basis. ... [Continue Reading]
Gold (Spot) Trading Tips for 13 December 2010, Sell below 1399
Gold trading for 13 December 2010, Gold intraday trading tips, Short (Sell) positions in Gold below 1399 with targets as 1388 and 1378. Stoploss should be placed around 1403 level. Why to go Short: Gold is trading weak for last couple of sessions after touching its all time high last week, we expect a pullback to its support near 1388 level. It has also broken below its bullish channel lower ... [Continue Reading]
Nifty Futures Support Resistance Level For 13-December 2010
Nifty futures has been weakening but we see a support level do exist near 5827 level, so our initial strategy for today is to sell nifty futures near 5966 level for intraday targets of 5817 and 5801. Nifty is trading below 5868 level we are going to see bears active and markets will move to its next support of 5817. The trend will be negative today following the European markets. Nifty Future ... [Continue Reading]
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