report as on 18/05/2010 gold & silver & crude

Silver

In line with our yesterday's discussed scenario, silver declined to relieve momentum indicator and to gather the momentum it needs to activate the continuation of the bullish scenario, which is based on our suggested Elliott cycle. The subsidiary image of Stochastic of the hourly interval shows a positive crossover, accompanied by bullish harmonic structure. Therefore, potential ascending movements could be seen over intraday basis.

Gold

Gold is still building a solid technical base in order to activate the awaited internal fifth wave of our suggested Elliott sequence. A bullish harmonic pattern alongside positive crossover is now completed on Stochastic indicator of the four-hour interval -secondary image-. Thereby, possible ascending movements could be seen over intraday basis. A break of 1227.00 is needed to confirm today's outlook.

Recommendation Based on the charts and explanations above our opinion is, buying gold with a breakout above 1227.00 targeting 1255.00 and stop loss below 1205.00 might be appropriate.

report as on 17/05/2010 gold & silver & crude

Silver

The long white candlestick formation of the past week signaled that the IM structure is still in progress according to our suggested Elliott sequence of the medium term basis. Some kind of fluctuation might occur to relieve Stochastic before resuming the awaited bullishness during this week. AROON indicator is still supporting the positive possibility. A break of 19.65 will be able to accelerate thiss scenario.

report as on 13/05/2010 nifty

http://equitylevels.blogspot.com/
report as on 13./05/2010 nifty   short nifty @ 5190/- tgt 5120/- sl 5240/-

report as on 13./05/2010 nifty

On Tuesday, the Market opened lower as compared to previous close and failed to breach previous day's highest level,

which was the minimal requirement for further upside. However, it has respected to the Fibonacci retracement level

of 5120/17100 in the second half and managed to close above the same.

Today, in case the market sustains above yesterday's lows of 5120/17100 then we can expect bounce back to 5175/

17230 and 5190/17330 levels again. However, if it fails to sustain above 5120/17100 then we may expect continuation

of the weakness minimum up to 5085/16930 and maximum up to 5030/16830. Our advice is to reduce trading long

positions, if it sustains below the level of 5120/17100. Expect short-term break out only above 5210/17380.

report as on 12/05/2010 nifty

On Tuesday, the Market opened lower as compared to previous close and failed to breach previous day's highest level,

which was the minimal requirement for further upside. However, it has respected to the Fibonacci retracement level

of 5120/17100 in the second half and managed to close above the same.

Today, in case the market sustains above yesterday's lows of 5120/17100 then we can expect bounce back to 5175/

17230 and 5190/17330 levels again. However, if it fails to sustain above 5120/17100 then we may expect continuation

of the weakness minimum up to 5085/16930 and maximum up to 5030/16830. Our advice is to reduce trading long

positions, if it sustains below the level of 5120/17100. Expect short-term break out only above 5210/17380.

10:F 8 15 22 M 8 15 22 29 A 5 12 19 26 M 10

"Life is 10% what happens to you and 90% how you react to it."

report as on 11/05/2010 nifty

On Monday, the market has broken all its barriers for the day and closed above the major hurdle of 5160 without any

major efforts. It suggests us that the market has seen its worst at 4685 however, we will come on the same conclusion,

only if it breaks 5300 on the higher side. But it does not mean that we can take a contrarian call on the market and

sell-short in advance. On declines at major supports, one can add long positions with again short-term view because

the rally that we saw on Monday was with exceptional rise in almost all index heavy weights.

For the day, the level of 5225/5235 (17560) may act as an immediate hurdle for the market above previous day's highest

level of 5205/17370 and reversal from these levels may lead to temporary correction in the market. On the lower

side, the level 5160 and 5180 may again act as a major support for the market. Our advice is to look for short-term

buying opportunity around the same with an upside target 5290/5300.

 

report as on 10/05/2010 nifty

positional call short nifty @ 5096/- tgt 5020/- sl 5140/-

weekly major sup @ 4950 below tht 4760 with major sup of 4850

ressiatance @ 5120 close abopve tht will see 5160

report as on 07/05/2010 gold , silver & crude

Gold closed sharply higher on Thursday. The high-range close sets the stage for a steady to higher opening on Fridayy. Prices closed nearer the session high today as traders stepped in to "buy the dip" and do some bargain hunting at lower price levels. A stronger U.S. dollar and lower crude oil prices did limit the upside in gold today.

Silver closed higher on Thursday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If its renews last week's decline, April's low crossing is the next downside target

report as on 06/05/2010 nifty

On Wednesday, the market opened down with an almost 70 points on Nifty but after struggling a lot around 5060 it

turned back to previous lows 5135/17100 towards the end. We may call it as a pull back to the bear rally started from

5340 levels. On second consecutive day, the market closed below the major level of 5160/17330, which is a sign of

weakness and may pull down the market to 5000/4950 in coming few days. On the higher side, the market has several

hurdles and to breach all of them requires some solid reason.

For the day, the level of 5145/17160 and 5165/17230 may act as a major hurdle for the market and reversal from these

levels will be an opportunity to trade short with a target of 5090 and 5050 again. Sustenance of the market above

5165 level may pull up the market to 5200/17330 levels.

report as on 05/05/2010 nifty

The market has broken the range trading activity on the lower side by cutting the important support at 5200/17330.

The tired sell off was so severe that it has broken even the lowest low level of the current sell off which was at 5160/

17270. The reason was global cues and we informed our readers well in advance about the same. Even two bearish

gaps have confirmed the medium term down trend for the Indian markets.

In the context of global cues, we can say that the pain is still not over and minimum 2 to 3 percent sell off is not ruled

out in the near term in US markets. If we consider our markets then the dismissal of the weekly lows will drag the

market to the level 5000/16850 soon. By closing the market below the level 5180, which is a part of a silent trading

range between 5180/17350 and 4950/16550 levels since October 2009, we may even expect the fall to continue the

level 4950/16550 in coming few day.

However, while looking at the strength of the past move the market between 4675/15650 and 5400/18050 we can say

the level of 5000 will offer first significant investment opportunity with a long term view. Our advice is to invest "partial

funds" in index based stocks around 5000 levels and with an intention of adding more if it falls further to the next

best support. For traders our advice is to reduce trading long positions.

report as on 04/05/2010 gold & silver

Silver

A negative divergence has been formed on the four-hour interval, accompanied by bearish candlesticks formations, signaling that the metal is seeking for PRZ for the bearish harmonic AB=CD pattern. Thus; possible downside movements could be seen over intraday basis. AROON also supports our negative scenario.
 Recommendation Based on the charts and explanations above our opinion is, selling silver from 18.75 targeting 18.15 and stop loss above 19.25 might be appropriate.

Gold

After touching the initial resistance levels between 1183.00 and 1187.00, gold started to decline once more below 76.4% Fibonacci levels of XA leg for the bearish harmonic structure. This structure is still in favor, while the negative divergence could be more efficient if the metal hits 1172.00. From here, possible bearish actions could be witnessed over intraday basis.
Recommendation Based on the charts and explanations above our opinion is, selling gold from 1183.00 targeting 1158.00 and stop loss above 1196.00 might be appropriate.

report as on 03/05/2010 gold & silver

Silver

On the provided four-hour chart we see that the metal has been able to reach the second PRZ-potential reversal zones- of the bearish harmonic AB=CD pattern; where a clear shooting star candlestick pattern has been formed, accompanied by negative signs on RSI 14 and AROON indicators. Therefore, possible negative movements could be seen during this week.
 Recommendation Based on the charts and explanations above our opinion is, selling silver from 18.65 targeting 17.90 and stop loss above 19.25 might be appropriate.

Gold

Finally, gold has been capable of touching the awaited Fibonacci level of 76.4% for XA leg, seen on our provided daily chart. Currently, our suggested harmonic structure is completed while the negative divergence appearing on Stochastic is still working; therefore, potential downside actions could be witnessed during this week, targeting 1144.00 zones and might extend towards 1127.00 areas.
Recommendation Based on the charts and explanations above our opinion is, selling gold from 1180.00 targeting 1144.00 and stop loss above 1207.00 might be appropriate.

report as on 03/05/2010 nifty

positional call buy icici bank @ 955.5/- tgt 990/- sl 930/- 

On Friday, the market opened higher but failed to fill the gap, which was the minimal requirement to keep the momentum

positive and closed in a negative territory, which is a sign of selling pressure at rally. As the market has not filled the

gap and supporting world cues are negative, we feel that the market may again try to test lower support level of 5200.

In case the market sustains below 5200 in the second half of the trading session, then it may fall to the level of 5160 with

a minor support at 5180.

Holding the level of 5200 will be good for the market and may again help bulls to attempt to fill the bearish gap between

5299 and 5290.

Medium term trend is depending on 5340 and 5160 levels and in case the market breaks 5340, then we may expect fresh

rally in the market or break of 5160 may result into vertical sell-off to the level of 5000 with a minor hurdle at 5125.