Sunday, 10 April 2016

Weekly Updates (11-04-2016)


Nifty formed a bearish engulfing last week, but stays well above the support level, 7545. This week, Nifty is expected to be neutral holding up at the Support level. If the selling continues however, there will be a fall up to the next support, 7233 level.

Verdict: Nifty is expected to remain neutral, coming week.

Key Levels to look for:
Resistance Levels = 7700 / 8000
Support Levels = 7545 / 7233


Crude reacted to the 2400 Support level and ended Bullish last week, and there is still a possibility for Crude to remain bullish this week, up until 2805 Resistance levels.

Verdict: Long until 2805 Resistance levels.

Key Levels to look for:
Resistance Levels = 2805 / 2902
Support Levels = 2450 / 2200


Gold saw a big bullish move last week. However, this Bull sash pattern is not from a prominent Support level. Hence, we expect the gold to remain neutral this week.

If the gold should continue in its upward momentum, the range of 30,000 will act as a strong Resistance.

Verdict: Expected to end neutral this week.

Key Levels to look for:
Resistance Levels = 29,500 / 30,161
Support Levels = 28,500 / 27,970


As expected, Silver remained cozily inside the prior range last week, and created a Bull Sash at the Swing Support. But since it’s still in the consolidation range, which is been going on for weeks, better to remain neutral in Silver.

Verdict: Expected to remain neutral.

Key Levels to look for:
Resistance Levels = 37,500 / 38,588
Support Levels = 36,000 / 35,419