Sunday, 27 March 2016

Weekly Updates (28-03-2016)


NIFTY

The price broke above 7725, Last week’s Hanging man has not been confirmed. Hence nifty is expected to remain bullish. The next resistance level would be at 8000

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

Key Levels to look for:
Resistance Levels = 7800 / 8000
Support Levels = 7725 / 7600


CRUDEOIL

Crude created a red neutral candle, but it’s not at Resistance yet. Also the short term trend is in buying mode, we are expecting crude to move further up, until 2902 level.

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

Key Levels to look for:
Resistance Levels = 2800 / 2902
Support Levels = 2577 / 2400


GOLD

The selling pressure during last week would take the gold downside further, upto the Support level 27,833.

Verdict: Short up to 27,833 level.

Key Levels to look for:
Resistance Levels = 29,400 / 30,161
Support Levels = 28,000 / 27,833


SILVER

A bearish engulfing at 38,000 resistance level would probably be reacted to this week. Silver is Short up to 36,100 level.

Verdict: Remain Bearish in silver up to the above said Support level.


Key Levels to look for:
Resistance Levels = 38,588 / 38,800
Support Levels = 36,100 / 35,583