Monday, 15 August 2016

Weekly Updates (15-08-2016)


NIFTY

Buying pressure in the last 2 candles suggest that Nifty would, possibly, reach the 8888 Resistance levels this week. Since the level is a good Resistance zone, with multiple swing points (previously), it cannot be said if the price would go beyond that level this week.

Key Levels to look for:

Resistance 1 – 8888
Resistance 2 – 9000

Support 1 –  8400
Support 2 –  7927


CRUDEOIL

3000 is the Resistance (psychological round number) for Crude this week, and it is expected to revert back to the swing point at 2631 levels. Since no Support has been taken by Crude till now, the long is safe to avoid.

Key Levels to look for:

Resistance 1 – 3100
Resistance 2 – 3425

Support 1 –  2884
Support 2 –  2631


GOLD

There is a chance for Gold to take Support this week, @ 30,699 levels. But no big moves are expected yet, as it’s still between Support & Resistance.

Key Levels to look for:

Resistance 1 – 31,939
Resistance 2 – 32,500

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


SILVER

Just as same as Gold, Silver is also inside a Range. Since the Support level is nearby, there is a thin chance that it would go up (not a big move, though) up to the Resistance.

Key Levels to look for:

Resistance 1 – 48,445
Resistance 2 – 50,391

Support 1 –  45,598
Support 2 –  45,000