Sunday, 12 June 2016

Weekly Updates (13-06-2016)


Nifty is still under the influence of buyers, despite the small selling pressure last week, which just indicates that the breakout of multiple resistances (with the wide range bar, a couple of weeks ago) is taking a pause. This week, nifty is still up for long.

Verdict: Long for the week. 

Key Levels to look for:
Resistance Levels = 8390 / 8723
Support Levels = 8100 / 8000


Crude is still reacting to the swing point around 3300 levels, and it’s been doing that straight for the 4th week now. But the candles are not yet suggesting any kind of strong selling pressure. With all the small real bodies, Crude is still building up for further long.

Verdict: Long after taking Support. 

Key Levels to look for:
Resistance Levels = 3500 / 3656
Support Levels = 3260 / 3110


Although not at a prominent Support level, gold managed to move up pretty quickly last week. Now the nearest resistance for gold is around 30,500. And we are expecting Gold to get to that level of Resistance this week.

Verdict: Long up to Resistance level.

Key Levels to look for:
Resistance Levels = 30,269 / 30,538
Support Levels = 29,400 / 28,679


Silver had struggle last week at our 38,500 Support level, and it reacted to it wildly. With the Resistance @ 42,000 level nearby, this big move is only an indicator of a weakening buying pressure, and Silver is expected to react to the Resistance very soon, although this week, it’s expected to still go up, to the major Resistance.

Verdict: Long up to Resistance level. 

Key Levels to look for:
Resistance Levels = 41,975 / 43,000
Support Levels = 40,000 / 38,270