Sunday, 24 April 2016

Weekly Updates (25-04-2016)


Although at Resistance, Nifty is still stalling there with a Doji (Neutral) session. So, it is not good for short yet. This week, there are bleak chances that the price would come down till the psychological Support – 7800, after testing the 8000 Resistance, but the move will be short lived.

Verdict: This week, Nifty is expected to either remain bullish, or end neutrally.

Key Levels to look for:
Resistance Levels = 8000 / 8080
Support Levels = 7870 / 7533


Last week crude barely touched down the 3000 (round number) Resistance, and still remains bullish with a strong green candle preceded by a shooting star, suggesting that the buying is still intact.

Verdict: Our Last week’s target of 3173 level is expected to be reached.

Key Levels to look for:
Resistance Levels = 3040 / 3173
Support Levels = 2902 / 2544


Couple of neutral bodies with a grave stone doji indicate a slowness in the buying momentum. But since the Resistance level is at a far reach, the price is expected to go up further, until 30,161 range.

Verdict: Long move expected this week.

Key Levels to look for:
Resistance Levels = 30,161 / 30,500
Support Levels = 28,550 / 27,970


Breaking out of a strong 39,000 resistance level and closing above it indicates the Silver to be Bullish over all. But as far as this week is concerned it’s expected to remain inside the previous range.

Verdict: Expected to remain neutral.

Key Levels to look for:
Resistance Levels = 41,421 / 43,000
Support Levels = 39,150 / 38,800