Sunday, 3 July 2016

Weekly Updates (04-07-2016)


The Bullish green bar last week has closed above the nearest swing resistance. Although the Resistance is not a strong one, it’s is expected that the Nifty might go up to the next point of Resistance.

Key Levels to look for:

Resistance 1 – 8723
Resistance 2 – 8800

Support 1 –  8319
Support 2 –  7927


Crude is still consolidating, with a close-knit Support-Resistance range. Although the price might be moving up this week a little, it will not be a strong one, and Crude still looks too weak to go up or true strong to come down. Crude still remains trendless.

Key Levels to look for:

Resistance 1 – 3442
Resistance 2 – 3500

Support 1 –  3220
Support 2 –  3115


Doji at Swing Resistance is an indicator of the dull mood, but Gold Still looks good for long, despite. Although Gold may not go up immediately during next week, there’s still a high chance for it to continue its uptrend, unless indicated otherwise.

Key Levels to look for:

Resistance 1 – 32,800
Resistance 2 – 35,074

Support 1 –  29,852
Support 2 –  28,410


Silver had no hurdle last week, and sky-rocketed to 45,000 levels. Next week Silver might give pullback due to the big move during last week. If it goes up, may it’s not a good idea to enter now, since it’s already near Resistance.

Key Levels to look for:

Resistance 1 – 46,400
Resistance 2 – 47,000

Support 1 –  44,000
Support 2 –  38,270