Updates on earlier recommendations-

Hi All,

From my earlier posts,

BHEL is booked profit near its first target of 211-213
CIPLA is still holding on to its SL
LT still open with SL below 1400
JP hold on to longs with strict SL below 69-68.4

Cheers

Hrishi

Currencies are as confused as the global economies!!!

Currency Update - (Levels for NSE near month Future contracts)

GBPINR - Bias is positive with supports near 82.75-82.70 and resistances near 84.10-84.4-84.90 (March contract levels) 

 
 



EURINR - Bias is sideways or basing 9consolidation) for short to mid term with the range being 73.50 to 71...

JPYINR - Bias sideways in the range of 56.70-58.70 with 56.70 to 56.50 being crucial supports....

USDINR - At resistance of 54.5 to 55.10 and trading in the overbought region, crucial supports of 54.10 and 54 on the lower side...

Cheers

Hrishi

Happy Trading!!!

Bullions trying to become precious again........

Update on Bullions -

Gold - 
Gold (April future contract) has shown some bullish indications on Daily charts with a swing and a positive divergence on RSI.... (Click on the charts below)

It can be looked at for a long position only above 29900 with supports below 29250-200 and with resistances near 30300 (minor) 30600-31000......

Aggressive traders can even buy on dips near 28500-400.....

Silver -
In also Silver (May future) also some bullishness can be seen on the daily charts as it has also given a +ve candle divergence.....(Click on the charts below)

It looks positive only if it crosses 55750 today (else the view will not be valid) with supports below 54500 (For March contract levels would be 54325 and 53000 respectively) with resistances around 56700-57300-57800 for May contract and 55250-55900-56400 for March contract...



Happy Trading!!!

Cheers


Hrishi

Gold - April Contract -


Silver - May Contract

Nifty, the second most difficult thing to predict after women......Lol

Hi All.....

Nifty traded in the range of less than 40 points and have closed above the level of 5850......

We continue with the same bias and and advise trades to trade with strict stop losses as the markets can be uncertain on account of Budget announcement next week.....

5800-5850 would be very good supports on closing basis for Nifty and we can expect lot of volatility with resistance near 5900-5975



Also, a bearish flag breakout (Chart given below) on Nifty hourly charts - this could be an important developments to watch out for bulls....

Hence, today's low of around 5835 and 5800 on a closing basis would be crucial supports for Nifty in the short term....

Happy Trading!!!

Cheers

Hrishi