Technical updates on Nifty and commodities

Nifty daily chart

Nifty is sliding along with rupee . However it has a support at 5480 . Once Nifty closes below this level it will reach 5300. So wait for closing below this level . Even if Nifty falls by 100 points on Monday short can be considered.

Crude Oil

Crude Oil has closed marginally above trend line resistance . If closes above resistance for one more trading session then uptrend will continue. 

Lead

Lead is approaching trend line resistance at Rs.144 . Book profit around this level and re enter once it closes above this level .

Zinc

Zinc has closed above trend line resistance . Tomorrow We are planning to consider long in Zinc .

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5486

Thought for the day

Study nature, love nature, stay close to nature. It will never fail you.

Breakout !!

Nifty

Nifty has breached trend line resistance and closed around 5700 . Short term targets are 5750-5850. 

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5486

Technical updates on Nifty

Nifty daily chart

 

 

 

 

This is a self explanatory chart . The trend line which was acting as support is acting as resistance . If Nifty closes above this trend line resistance then uptrend will continue till 5750. Otherwise Nifty will once again reach 5500 . Lets see .

 

Nifty medium term trend

 

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5486

 

 

Thought for the day

 

 

Optimism is the faith that leads to achievement.Nothing can be done without hope and confidence.

 

 

Technical updates on Nifty

Nifty

Today Nifty made a low of 5486 which is a support region . From now on we can expect a short bounce back in Nifty. This bounce back could be lead by Banking sector . If Bank Nifty sustains above 9900 that will be the indication of continuation of uptrend. 

Disclaimer : Charts presented here are not for recommendation or to advice . They are for educational purpose. More details such as stop loss , target are shared with subscribers.

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5486

Thought for the day

I am not here to change the world.I am changing the world because I am here.

Technical updates on Nifty and Copper

Nifty Daily Chart

Nifty has breached trend line support at 5620 and closed at 5542 . Now next target is 5480 . Present market situation is not favorable . Depreciating rupee is a major negative factor for fall in market . Wait for some time before considering bottom fishing. 

Copper

Copper has breached and sustained resistance at Rs.427 . We have executed long at Rs.431.

Disclaimer : Charts presented here are not for recommendation or to advice . They are for educational purpose. More details such as stop loss , target are shared with subscribers.

 

Nifty medium term trend

Trend	Down
Initiation Date	30-07-13
Initiated at	5755
Low since change	5521

 

Thought for the day

You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You must do the thing you think you cannot do.