Weekly Updates (18-04-2016)
NIFTY
Instead of a neutral session, Nifty made a strong bullish move in
last week, which signals the buying pressure. This week, nifty is to remain
bullish until 8000 Resistance level.
Verdict: Nifty is expected to remain bullish up to 8000 level.
Key Levels to look for:
CRUDEOIL
Shooting star at the swing resistance might bring up some short
move until 2355 Support level. But, since the shooting star is followed by a
bullish engulf pattern, and since the Support level is very nearby, Crude might
also go up, depending on bullish / bearish open next week.
Verdict: Open price would confirm the direction of the impending
move.
Key Levels to look for:
GOLD
Small real body after a bull sash pattern indicates little trouble
on the buying side. But since it’s not at any kind of resistance, gold would
still remain bullish in coming week.
Verdict: Long move expected this week.
Key Levels to look for:
SILVER
Silver after a big long move, now resides at a Resistance level. Also,
there are couple of major Resistances nearby at R1 & R2. Hence silver is
expected to remain inside S1 & R1 level.
Verdict: Expected to remain neutral.
Key Levels to look for:
NIFTY
Instead of a neutral session, Nifty made a strong bullish move in
last week, which signals the buying pressure. This week, nifty is to remain
bullish until 8000 Resistance level.
Verdict: Nifty is expected to remain bullish up to 8000 level.
Key Levels to look for:
Resistance Levels = 7930 / 8000
Support Levels = 7780 / 7233
Shooting star at the swing resistance might bring up some short
move until 2355 Support level. But, since the shooting star is followed by a
bullish engulf pattern, and since the Support level is very nearby, Crude might
also go up, depending on bullish / bearish open next week.
Verdict: Open price would confirm the direction of the impending
move.
Key Levels to look for:
Resistance Levels = 2902 / 3000
Support Levels = 2645 / 2355
GOLD
Small real body after a bull sash pattern indicates little trouble
on the buying side. But since it’s not at any kind of resistance, gold would
still remain bullish in coming week.
Verdict: Long move expected this week.
Key Levels to look for:
Resistance Levels = 29,700 / 30,161
Support Levels = 28,400 / 27,970
SILVER
Silver after a big long move, now resides at a Resistance level. Also,
there are couple of major Resistances nearby at R1 & R2. Hence silver is
expected to remain inside S1 & R1 level.
Verdict: Expected to remain neutral.
Key Levels to look for:
Resistance Levels = 38,800 / 38,242
Support Levels = 37,923 / 35,419
