Tag: Silver

Weekly Outlook

Sheetal

Silver

MCX SILVER 04DEC2015_Daily_1Year

As spoke in our last mail, that silver might move high till 37600 and it made high of 37700. As can be seen from the chart that Silver is trading near under its crucial trendline resistance of 37850 levels and we won’t give buy untill it cross that level. Hence for the coming weeks, we advise to go long oanly above 37800 levels till 38300 and below 37340 it might fall till 36500 levels with a strong resistance of 37700.

Nifty

NSE NIFTY 29OCT2015_Daily_1Year

After an inverse H/S breakout Nifty is making higher tops and bottoms and trading under its crucial falling resistance line. Any breakout above 8280 levels will take Nifty till 8380 levels. We advise to go short with SL 8330( spot) till 8140-8070 levels.

Crude

MCX CRUDEOIL 19OCT2015_Daily_1Year

Crude is trading in a tight range between 300 points. As seen crude took the support at lower levels and move high. For the coming sessions we assume a bounce till 3130-3200  levels. Interestingly, crude;s Calender spread is more than 60 points which signifies a bullish picture.

 

Weekly Outlook

Sheetal

Nifty

NSE NIFTY 29OCT2015_Daily_1Year

 

As we predicted in our earlier report that, Nifty may fall till 7800 if it maintained below 8050 levels it did the same. For the current week, as seen from the chart, Nifty is trading below its crucial trend line resistance i.e 8020 levels and below H/S neckline level i.e at 8050. Hence, any buying position only going to initiate if it crosses 8070 levels, below that Nifty may fall till 7860-7780 levels.

Silver

MCX SILVER 04DEC2015_Daily_1Year

Silver formed a very crucial support at 34500 levels and resistance at 35130. Both these levels will decide the future trend of the price. We assume silver might trade with a positive bias till its above resistance 35180 and above 35200 it might rise till 35800-900.

Crude

MCX CRUDEOIL 19OCT2015_Daily_1Year

Again Crude traded in a very small range of 120 points. Above 3100 and below 2930 is a very crucial range to decide the next coming move. we advice to go long near 2930 levels for the 3030-3100 target.