Sunday, 20 March 2016

Weekly Updates (21-03-2016)


NIFTY

The price is at resistance 7606, and Hanging man has been created. But, it need the confirmation and till the nifty is expected to remain bullish. The next resistance level is expected to be at 7725

Verdict: As there is still some buying pressure left Nifty is expected to remind bullish coming week.

Key Levels to look for:
Resistance Levels = 7725 / 7800
Support Levels = 7530 / 7200


CRUDEOIL

As expected, Crude remind neutral last week.

Although last week was a neutral session it managed to stay above 2566 (resistance) level. So, the crude is expected to remain bullish coming week up to 2800 (resistance) level

Verdict: Better to look for long up to the above head resistance level.


Key Levels to look for:
Resistance Levels = 2636 / 2800
Support Levels = 2566 / 2400


GOLD

Gold remained pretty much inside the prior range last week, as expected.

Since there was some buying pressure during the last week, the gold is expected to give a small up move, until 29,500 levels.

Verdict: Gold will go up slightly. Any long positions are advised to be covered between 29,500 & 30,100 (Resistance) levels.

Key Levels to look for:
Resistance Levels = 29,800 / 30,160
Support Levels = 28,500 / 28,000



SILVER

Last week, the resistance @ 39,000 level had almost been reached, but the price barely touched it. Which is a mark that there’s still some buying left in silver.

This week, Silver is probably expected to move higher up to the same 39,000 levels.

Verdict: Better to remain Bullish in silver up to the above said resistance level.


Key Levels to look for:
Resistance Levels = 39,000 / 39,200
Support Levels = 37,500 / 36,300