Monday, August 9, 2010



Nifty is range bound within 5349-5487 for the last 19 sessions. Resistances and supports within this range are as follows:-


1-5470-5486(Selling on 05-08-2010
2-5460-5470(Selling on 06-08-2010


1- Strong support within 5360-5380(8 days goood consolidations in mid July)

I told almost same lines on last Friday and repeating today:-

Indian markets are not prepared for anyside decisive move and will prepare within 5445-5470 for next moves and its break out will give next move first indication.. Next big move confirmation will come after break out of 5425-5490. Although Indian markets slipped from higher levels after selling last Friday but last half hour intraday charts are showing consolidations patterns also. It is the nature of all the financial markets that they become range bound while preparing for any side moves and it is going on.

Today first 2 hours intraday charts are showing consolidation patterns but just below next resistances. Let on going process complete then next moves picture will be clear and will be told accordingly otherwise something telling will be guesswork only.

BUY GOLD OCT @ 18130-150 SL 18090 TGT 18185-18220-18256.MCX

BUY SILVER SEPT @ 29030-29070 SL 28920 TGT 29158-29212-29290.MCX

BUY CRUDE AUG @ 3720-3730 SL 3690 TGT 3752-3775-3798.MCX

BUY COPPER AUG @ 341.50 SL BELOW 339.70 TGT 342.50-343.80.MCX

BUY ZINC AUG @ 97.20 SL 96.50 TGT 98.10-98.80-99.20.MCX

BUY NICKEL AUG @ 1018-1022 SL 1008 TGT 1028-1034.50-1040.MCX

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