Nifty weekly chart

After reaching the resistance zone Nifty has made  a sharp decline . This decline is expected to continue till 8100. So continue to hold put options / short positions with trailing sl .

LT Weekly chart

LT has closed below 20 WMA which is a bearish sign . It is likely to fall another  25-50 rs .

Tata Sponge

Tata Sponge has started to form lower top lower bottom which shows that bears are dominating .  Even if it bounces it will face selling pressure . If it breaks the trend line support then free fall can be expected .

Nifty is likely to continue uptrend and expected to reach 8100-8150 + . Buy next month 5100 call (1-2 lots) option and hold as long as Nifty is above 7790.

 

Nifty

In the last post I had mentioned the possibility of Nifty reaching 7800-7700 . Second targets is almost achieved . Nifty has breached an important support in the last trading session .Nifty is likely to go down further . 

Gold

Gold is in uptrend from few days . It is likely to reach 28000 in short term . Continue to hold long positions .

Nifty has started short term down trend . Expected targets are 7800-7700. Reversal will be closing above 8100.