Technical updates on Nifty and Zinc

Nifty daily chart

 

 Nifty has made a sharp bounce back . Major resistance is at 5950 which could be the peak of this rally . However if this resistance is breached then further rally is possible .

Zinc

Zinc is consolidating in a narrow range . Wait for breakout to initiate position.

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5700

Thought for the day

Life is like an onion; you peel off one layer at a time and sometimes you weep.

Nifty daily chart

Nifty

Nifty has bounced back after testing trend line support . But as of now there are no indication of sustainable uptrend . Lets wait and watch .

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5700

Thought for the day

What you do every day matters more than what you do every once in a while.

Technical updates on Nifty

Nifty daily chart

Nifty has continued down trend . It has an intermediary support around 5700 . However it is likely to be breached as RSI is not over sold . 

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5718

Thought for the day

Remember if people talk behind your back, it only means you are two steps ahead.

Technical updats on Crude Oil

Crude Oil daily chart

Crude Oil is trading at an important support level . Down trend will resume if it close below this level . We are holding short since 6600.

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
Low Since Change	5864

Thought for the day

Mighty plans of action can be undertaken only by equally mighty men. A man is mighty according to the amount of energy and concentration and tranquility of mind he can bring into his undertaking with confidence in himself and faith in the goal he has chosen to reach - Swami Chinmayananda

Medium term down trend started

 

Nifty medium term trend

Trend	Down
Initiation Date	25-09-13
Initiated at	5873
High Since Change	5873