Sunday, 7 August 2016

Weekly Updates (08-08-2016)


NIFTY

Still have not reached our 8888 Resistance levels, Nifty signals weakness in buying with a neutral candle. Wait for it to take the resistance level.

Key Levels to look for:

Resistance 1 – 8888
Resistance 2 – 9000

Support 1 –  8700
Support 2 –  7927


CRUDEOIL

Neutral candle in crude is not indicating any reversal in trend, since it’s not at Support. It just means that the trend is pausing a bit. Wait for it to come up to the support.

Key Levels to look for:

Resistance 1 – 2884
Resistance 2 – 3425

Support 1 –  2544
Support 2 –  2355


GOLD

Gold is totally between support and resistance, and it’s preparing for a big move in future. As far as now, it’s still in preparation state. Might retest the 32,000 resistance tis week.

Key Levels to look for:

Resistance 1 – 31,974
Resistance 2 – 32,500

Support 1 –  30,669
Support 2 –  29,852


SILVER

The piercing line bearish is occurring inside a range. So, we cannot expect any fall for silver any time soon. 46,000 is the nearest Support for silver. Might test the support this week.

Key Levels to look for:

Resistance 1 – 48,611
Resistance 2 – 50,391

Support 1 –  47,100
Support 2 –  45,598