Ultratec cement (ultracemco) is trading near 138.2% Fibonacci extension level, this level is widely used for profit booking and many professional traders are ready to book profits now. A correction can be easily ruled-out which will pull this stock towards 1380 level and much lower then after. We would advice traders to short sell ultracemco future near 1510 for positional targets as 1380 and then ... [Continue Reading]
IGL Stock is Supported by Rising Trendline, Strong Buy Recommended near 357 Level
IGL is our short term recommendation, this stock has been continuously trending up, Which is supported by rising trend line. Since the stock is in long term uptrend we will focus only on buying signals generated by slow stochastic indicator. If we look at weekly chart we see, IGL has faced resistance at 355 to 365 zone. So this zone for now will act as support level for stock, hence bounce in ... [Continue Reading]
Nifty Options Stratregy for F&O Expiry of September Series, Buy Nifty 4900 Put near 26 Level
Upside for this F&O Expiry in Nifty futures is capped at 5000 level, as nifty call options has highest open interest in 5000 strike. Hence upside in nifty futures is limited to 5000 levels at this point of time. So we would suggest traders to take short positions in nifty futures near 4978 level for targets as 4900 and then 4858 zone. Traders must keep stop loss just above 5020 level for this ... [Continue Reading]
Nifty Futures must Face Resistance at 4970 zone, Fresh Short Selling Possible today, Nifty F&O September Series
Indian markets are trading positive as most of global markets were trading in positive zone today, so even our domestic markets saw some relief rally from its 20 sessions falling streak. This is just a pullback due to short positions being covered, after continuously decline in nifty futures but the trend is still down for short term. So traders must keep looking for selling opportunities in Nifty ... [Continue Reading]
Forex Trading: AUDUSD Trading with Technical Analysis, Bullish Outlook for Short Term: Buy AUDUSD
Australian dollar has corrected from its high of 1.1078 level, this level was the highest level of decade. We have seen AUSUSD pair correcting from the 1.1078 level to 0.9926 level, this correction has made good buying opportunity in the forex market. As the global meltdown was another issue which created global demand for USD in market and the selling in other currencies. Also we have noticed ... [Continue Reading]
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