Sunday, 3 April 2016

Weekly Updates (04-04-2016)


NIFTY

Nifty seems to be targeting the next Resistance zone @ 8000 level. Last week, although Nifty formed a small real body, it managed to stay above 7600 level, and took the same as Support, also there is still a clear buying pressure in Nifty

Verdict: Nifty is expected to remain bullish coming week.

Key Levels to look for:
Resistance Levels = 7850 / 8000
Support Levels = 7545 / 7200


CRUDEOIL

What seems to be a selling pressure in the Last week’s red candle would be sustained at the 2400 Support level.

A closer inspection gives out the message that the selling is not yet strong, since last week’s red candle is formed after a couple of small real bodies with no significant selling pressure in it.

Verdict: Better to look for long from 2400 Support.


Key Levels to look for:
Resistance Levels = 2600 / 2805
Support Levels = 2400 / 2300



GOLD

The selling pressure from the final week of March still holds up. Gold is yet to reach or last week’s downside Support level – 27,833.

Verdict: Short up to 27,833 level.

Key Levels to look for:
Resistance Levels = 28,425 / 30,161
Support Levels = 27,833 / 27,368



SILVER

A couple of Support level at 35,500 levels would hold Silver, this week from further descent. It has also created a nice consolidation during last 7 weeks. Since it is still building pressure inside consolidation, it’s better to wait on Silver this week.

Verdict: Expected to remain neutral, inside the prior range.


Key Levels to look for:
Resistance Levels = 36,500 / 38,588
Support Levels = 35,583 / 35,359