We have seen new lifetime high in gold due to appreciation in US Dollar. But Profit booking brought the precious metal Gold down last week, now Gold after correcting to 1315 levels we see Gold as good opportunity to buy at these levels. As per our analysis Gold will see good support around 1308 levels and resistance will be at 1341 / 1357. Our Preference: Buy Gold near 1316 for Target: 1341 / ... [Continue Reading]
Where Do We Expect Nifty Next Week (25-Oct-2010)
Markets inched lower in past two trading sessions, this created a consolidation or range bound markets as broader indices are trading between 20 DMA and 50 DMA. We expect Nifty to take a strong support from 5916 levels (50 DMA level), and take a V-shaped recovery from 5916 levels. So, unless we touch the 5916 levels we don't see any trigger for the bounce back. I would recommend to enter long in ... [Continue Reading]
Strong Breakout given by INDIABULLS, trading above resistance of 193
Last Friday (22-Oct-2010) we saw strong run-up in the stock of Indiabulls Financial Services Limited with volume more than 11 million (11,959,242), This rally is a positive breakout and the stock must post further gains. This stock has seen strong resistance at 193 levels in the past but, the closing above this levels has opened the way for 234 and 252. A temporary overbought situation might keep ... [Continue Reading]
SHORT TERM STOCK – BUY SREI Infrastructure Finance
BUY SREI INFRASTRUCTURE FINANCE ABOVE 120, FOR TARGET 136 / 144. WITH STOP LOSS AROUND 115. AS THE COMPANY HAS POSTED GOOD RESULT AND TECHNICALLY THE STOCK ENTERS A BULLISH RALLY ABOVE 120 SO IT CAN BE A GOOD SHORT TERM BUY. ... [Continue Reading]
EUR/USD INTRADAY TRADING FOR 22-OCT-2010
EUR/USD is likely to be bearish, hourly chart clearly confirms the bearish pattern formed here. The pair again failed to break 1.4010 levels, so we see bears strong at current levels. Our view: SHORT POSITION BELOW 1.3901 FOR TARGET 1.3860 . STOP LOSS MUST BE PLACED AT 1.3929 OR GO LONG IF PAIR APPROCHES THE STOPLOSS FOR TARGET 1.3985 ... [Continue Reading]
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