TOP DATA: June 2011

Thursday, June 30, 2011

Wait for a breakout to trade Gold

Technical Views - Commodities 30th June 2011

MCX GOLD1
TREND : Another day of consolidation, Wait for a breakout to trade. The range of consolidation is 22035 - 22185. Though our major levels for the next few days are 22000 - 22225. For today we can look to sell near 22175 with 22185 as SL and buy around 22050 with 22025 as SL. Looking at Silver we expect 70% probability of an upside breakout.
SIGNAL : avoid signals inside this range

MCX SILVER1
TREND : After may days a good 500 points profit in Silver. The resistance for today will come at 52200 and the support 51475.

SIGNAL : Use buy and sell signals of TDI BS

MCX Crude1
TREND : As per our expectation Crude surpassed 4230 and we are now closing all our long positions which we mentioned in our last 2 newsletters. Today 4305 will act as a barrier and 4230 as support. Both side opportunities will exist
SIGNAL : Use buy and sell signals of TDI BS

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NIFTY - Make or Break level 5620

Technical Views - Equities 30th June 2011

WHAT IS A BUY OR SELL SIGNAL WHICH WE KEEP MENTIONING IN OUR DAILY TECHNICAL VIEWS ?

We at TDI have created a proprietary logic based on technical analysis which generates buy and sell signals on Intraday charts. We call this logic as TDI BS aka TOPDATAINDIA BUY AND SELL. So when i say "Go Long only on Buy Signals we mean to say, When on an intraday chart a Buy signal appears based on TDI BS. We should take a long position in the scrip/future/commodity we have mentioned.

Why am i giving this reason today after a couple of months. I received lot of calls/chat messages mentioning that my GTL call went wrong. That's the time i realized that i have given views but haven't made an effort to educate people on the trading style which i follow. Infact i got a negative remark on my yesterday's heading GO LONG ON BUY SIGNALS ONLY.

Thus i will be covering this portion in all my blogs so that new readers are not mistaken and make losses in a scrip while at the same time we never entered a trade in the same.

Happy Trading, please email me on info@topdataindia.com incase u have the slightest doubts. Your feedback will and can make this blog really useful. And also if you like it please ask your friends to join too.

NIFTY
TREND : We are at a crucial juncture today. Some positives, Some negatives but trading today is not going to be easy. On such days either we will make lot of money or loose lot of money. The common thing is A LOT. Lets discuss the situation before we decide the trading plan.
Positives :
SGX Futures are up, means we will break 5610-20.
Momentum is up and roaring
Negatives :

RSI is showing a divergence and also would like to correct in time or price

Thrice Nifty resisted and fell from these levels.

Today being an expiry day, some wild movements can be expected

TRADING PLAN : If markets open above 5610, wait for 15 mins and take a long trade only above the intraday high and short trades below intraday low.
If markets open around 5600-10 then use the sell signals to enter short trades and long trades can be entered when 5620 breaches
SIGNAL : Use Buy and Sell signals of TDI BS

BANKNIFTY
TREND : Trading plan should be similar to Nifty. Important levels for the day are 11100 - 11200. Make or Break level for BankNifty is 11205
SIGNAL : Use Buy and Sell signals of TDI BS

UNITECH
TREND : With a stoploss of 30.25 we can go long at current levels of 31 for a target of 33.
SIGNAL : avoid signals.

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Wednesday, June 29, 2011

Good consolidation seen in Gold n SIlver

Technical Views - Commodities 29th June 2011

MCX GOLD1
TREND : Gold is in a mood to consolidate which is very good. The range of consolidation is 22035 - 22175. Though our major support for the next few days is 22000 - 22225. For today we can look to sell near 22155 with 22180 as SL and buy around 22050 with 22025 as SL
SIGNAL : avoid signals inside this range

MCX SILVER1
TREND : 50300 - 51245 is the consolidation range of silver. We can sell around the upper range and buy around the lower range. But definitely trade the breakout.

SIGNAL : avoid signals inside this range

MCX Crude1
TREND : 4060 will act as the support and 4190 as the resistance. We will look to go long on all the Buy signals on the charts for the next 2-3 days. On the extreme higher side we can touch 4230.
SIGNAL : Use only buy signals of TDI BS

GTL - Did we loose money........

Technical Views - Equities 29th June 2011

WHAT IS A BUY OR SELL SIGNAL WHICH WE KEEP MENTIONING IN OUR DAILY TECHNICAL VIEWS ?

Thus i will be covering this portion in all my blogs so that new readers are not mistaken and make losses in a scrip while at the same time we never entered a trade in the same.

NIFTY
TREND : Today also 5510 - 5565 will be the trend decider levels, which ever side Nifty breaks we will trade. Avoid trades inside this range
SIGNAL : Avoid signals of TDI BS

BANKNIFTY
TREND : BankNifty rested today. Next stop 11180. Around 11180 use sell signals to enter shorts and around 10965 use buy signals to enter longs
SIGNAL : Use only Buy and Sell signals of TDI BS

GTL

TREND : GTL remains a buy on signals today also. GTL has been hammered down. Keeping aside the fundamentals and the storied being built around the scrip. PURELY on technical grounds. Buy the scrip on Buy signals.
SIGNAL : Use only Buy signals of TDI BS

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Tuesday, June 28, 2011

Go Long in Gold, Silver and Crude only on Buy signals on intraday charts

Technical Views - Commodities 28th June 2011

MCX GOLD1
TREND : Below 22125 we missed 22000 by a whisker, Gold made a low of 22037 and rebounded. I expect this bottom not to breach and we should use all the buy signals to go long for a target of 22325 in the next couple of days. I would avoid shorts at higher levels and shorts initiated below 22000 should be made only fro quick profits.
SIGNAL : use buy signals of TDI BS

MCX SILVER1
TREND : Comparatively bearish as compared to Gold, But silver also should find its bottom today and then start moving up. Please do not buy at will. On the realtime charts let the buy signal confirm and then go long.

SIGNAL : Use only Buy signals of TDI BS
MCX Crude1
TREND : 4060 will act as the support and 4190 as the resistance. We will look to go long on all the Buy signals on the charts for the next 2-3 days. Shorts only below 4060
SIGNAL : Use only buy signals of TDI BS

GTL - remains a buy on signals today also

Technical Views - Equities 28th June 2011

NIFTY
TREND : After a bullish day a good consolidation signalling strength towards another upmove. But lets follow the trend. Today 5510 - 5565 will be the trend decider levels, which ever side Nifty breaks we will trade. Avoid trades inside this range
SIGNAL : Avoid signals of TDI BS

BANKNIFTY
TREND : BankNifty in full steam, it did not wait to consolidate also. Next stop 11180. Around 11180 use sell signals to enter shorts and around 10965 use buy signals to enter longs
SIGNAL : Use only Buy and Sell signals of TDI BS

GTL

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Monday, June 27, 2011

Pull backs seen on Gold, Silver and Crude

Technical Views - Commodities 27th June 2011

MCX GOLD1
TREND : Nifty broke up with a bang and Gold broke down with a bang also. Gold might find support around 22125 temporarily. For today the support is at 22125 and resistance at 22280. Below 22125 we will touch 22000 and on the upper side we can touch 22400-450 in the next couple of days.
SIGNAL : use both buy and sell signals of TDI BS

MCX SILVER1
TREND : A bullish divergence is seen on the charts which does not mean that silver cannot breach its low of 51720. But yes we will look to buy on all the buy signals that will see in the next 2-3 days. Below 51720 we will create shorts for small and quick profits only. 52210 will be the resistance for the day.

SIGNAL : Use only Buy signals of TDI BS

MCX Crude1
TREND : 4060 will act as the support and 4190 as the resistance. We will look to go long on all the Buy signals on the charts for the next 2-3 days. Shorts only below 4060
SIGNAL : Use only buy signals of TDI BS

GTL - Is a BUY today ....

Technical Views - Equities 27th June 2011

NIFTY
TREND : Broken out with a bang. Though the rise was expected but the speed at which it rose will need a breaker. 5415 will act as the support for today and 5530 as the resistance. Look to go long on buy signals this rally will culminate around 5530.
SIGNAL : Use only Buy signals of TDI BS

BANKNIFTY
TREND : Bank Nifty was also on full steam. 10960 will be the resistance for today and 10780 as the support.
SIGNAL : Use only Buy signals of TDI BS

GTL

TREND : GTL has been hammered down. Keeping aside the fundamentals and the storied being built around the scrip. PURELY on technical grounds. Buy the scrip on Buy signals.
SIGNAL : Use only Buy signals of TDI BS

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Friday, June 24, 2011

NIFTY : Waiting for the breakout today again......

Technical Views - Equities 24rd June 2011

Due to some technical problems i could not post my views in the morning

NIFTY
TREND : Yesterday was another day of consolidation. For Today again, 5245 - 5340 are the levels, Trade this breakout only.
SIGNAL : Avoid signals today

BANKNIFTY
TREND : Similar to Nifty, In consolidation longs above 10570 and shorts with a SL of 10550 and also below 10450.
SIGNAL : Avoid Signals Today

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Thursday, June 23, 2011

Gold - 22800 make or break level

Technical Views - Commodities 22nd June 2011

MCX GOLD1
TREND : On expected lines, we breached 22700 and touched 22794 very close to our target of 22800. Since 22800 is a major resistance we are planning to exit our positional long of 22550 around 22750-70 and build the longs again above 22800. For today, support is at 22700 and resistance at 22800.
SIGNAL : use both buy and sell signals of TDI BS

MCX SILVER1
TREND :Unlike Gold, Silver is creeping upwards which is not a good sign. We can look for sell signals to sell Silver from today. And exit positions on buy signals. Longs can be made only on the breach of 54825

SIGNAL : Use only sell signals of TDI BS

MCX Crude1
TREND : 4300 is make or break level for Crude for today. Above 4300 we expect 4350 and below 4300 we can touch 4220 again.
SIGNAL : Use buy and sell signals of TDI BS

NIfty : Ready to break its 3 day range....

Technical Views - Equities 23rd June 2011

NIFTY
TREND : Yesterday was another day of consolidation. For Today again, 5245 - 5325 are the levels, Trade this breakout only.
SIGNAL : Avoid signals today

BANKNIFTY
TREND : Similar to Nifty, In consolidation longs above 10565 and shorts with a SL of 10550 and also below 10450.
SIGNAL : Avoid Signals Today

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Wednesday, June 22, 2011

Gold Bullish, Silver reaching its resistance

Technical Views - Commodities 22nd June 2011

MCX GOLD1
TREND : Very good consolidation is seen on the charts after the breakout. We have a positional long at 22550 and will move our SL from 22450 to 22550 today. For intraday 22600 - 22700 is the range. A breach on either side will result in a 100 point swing rise or fall.
SIGNAL : Trade the breakout, avoid signals

MCX SILVER1
TREND :Though we have mentioned 54800 achievable, but the zone of 54600 - 54800 has lots on complexities, we suggest our readers to exit longs in this zone and wait for confirmations before you can go short. This is a zone of think, wait and act.

SIGNAL : Use both buy and sell signals of TDI BS

MCX Crude1
TREND : Look to create longs with a SL of 4185. Shorts only below 4185 and that to after it trades for atleast 10-15mins below 4185. On the higher side 4300 can be achieved again.
SIGNAL : Use buy signals of TDI BS

ALBK - Broken down and has achieved our target

Technical Views - Equities 22nd June 2011

NIFTY
TREND : Nifty has broken down as mentioned earlier, but the charts suggest some upside move before it falls again. Some of the stock specific charts are getting very bearish. And some have even filled the gap of May 2009. All this is not a dooms day prediction, but we need to watch out and be cautious in our trading for the next few months.

For Today, 5245 - 5325 ar the levels, Trade this breakout only.
SIGNAL : Avoid signals today

BANKNIFTY
TREND : Similar to Nifty, In cosolidation longs above 10565 and shorts with a SL of 10550.
SIGNAL : Avoid Signals Today

ALBK
TREND : ALBK broke below 195.7 and touched a low of 189 our target as mentioned. Book profits and stay out
SIGNAL :

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Monday, June 20, 2011

Gold Silver UP, Crude finding its bottom

Technical Views - Commodities 20th June 2011

MCX GOLD1
TREND : We are now long in Gold for a target of 22800 and an extreme target of 23150. This is a positional trade separate from what we will do on an intraday basis. The SL for this positional call is 22450 for today. For intraday the support comes at 22550 and resistance at 22650.
SIGNAL : Use Buy & Sell Signals of TDI BS

MCX SILVER1
TREND :Expect 54800 today or tomorrow. For today minor resistance stands at 54225 and support at 53500.

SIGNAL : Use only buy signals

MCX Crude1
TREND : Today we expect the bottom to be formed for this week. The range of 4060 - 4100 has some very strong supports. And the divergence on the charts will also help Crude pull back. For today support is at 4120 and resistance at 4225.
SIGNAL: Use buy signals of TDI BS

ALBK - Getting ready to breakout

Technical Views - Equities 20th June 2011

NIFTY
TREND : Nifty traded in a range of 50 points on Friday. Major support exists at 5350 and major resistance at 5450. Today we will look to go long on the Buy signals and short only if Nifty trades below 5350. Do not go short at the first instance of 5350 breaching. Allow it to trade atleast for 5-15 mins before you build positions.
SIGNAL : Use buy and sell signals of TDI - BS for the day

BANKNIFTY
TREND : Look to go long above 10650. On the downside we can short BankNifty below 10560 for a target of 10520 / 10400 (10400 doesn't seem achievable today).
SIGNAL : Use buy and sell signals of TDI - BS for the day

ALBK
TREND : ALBK has be consolidating since June. The range of this consolidation is 195.7 - 203.7. We suggest our readers to take the breakout trade. We expect a minimum of 5 points move whichever side it breaks.
SIGNAL : AVOID USING SIGNALS

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Friday, June 17, 2011

Gold is turing bullish.............

Technical Views - Commodities 17th June 2011

MCX GOLD1
TREND : 22550 is a major level which we should keep in our mind for the next 2-3 days. Incase we get a closing above the same, A positional buy can be taken.
SIGNAL : Use Sell Signals of TDI BS for the day and above 22550 only buy signals.

MCX SILVER1
TREND : After a long time we can see a horizontal consolidation. 52800 - 53800 is the range of this consolidation. A break will lead to 1000 move which ever side it breaks. Get ready to make at least 800 points from this swing move.

SIGNAL : Use signals only for small profits else avoid and trade the breakout

MCX Crude1
TREND : No bounce back but just consolidation was seen in yesterdays trade. Fresh shorts only below 4235 and longs only above 4310. Aggressive longs can be built on the first buy signal of TDI BS
SIGNAL: Use buy signals of TDI BS

BEML : Go long on the buy signals of TDI BS

Technical Views - Equities 17th June 2011

NIFTY
TREND : As expected we got long and short moves, not big ones but definitely profitable ones. For today trade the breakout of 5400 - 5455. Avoid trading the inside range
SIGNAL : Avoid signals of TDI - BS signals

BANKNIFTY
TREND : Comparatively bullish compared to Nifty, We will look to go long on the buy signals. Levels for the day are 10550 - 10680. The only bearish part is that the trading channel starting the June is downward sloping, The breakout of the channel for today is 10790 and is droping by 30 points everyday. So for a positional buys wait for a confirmation of this channel breakout
SIGNAL : Use buy and sell signals of TDI - BS for the day

BEML
TREND : Bullish Divergence can be seen on the charts. Use Buy signals to enter longs only. You might get stopped out once, but buy again. It has the potential to bounce back to 650 levels
SIGNAL : Use buy signals of TDI - BS for the day

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Thursday, June 16, 2011

Expect retracement of the fall in CrudeOil

Technical Views - Commodities 16th June 2011

MCX GOLD1
TREND : The divergences helped the Gold to hold some ground and pull back. For today 22340 - 22455 are the minor levels. Look to buy closer to 22340 as and when the buys signals appear on the charts. 22550 is a major level which we should keep in our mind for the next 2-3 days. Incase we get a closing above the same, A positional buy can be taken.
SIGNAL : Use Sell Signals of TDI BS.

MCX SILVER1
TREND : 53000 will act as support and we can go long on Buy Signals. The resistance comes at 53650. Above 53650 expect 54000 - 54500. Shorts can be created at higher levels as and when the sell signals appear. On the lower side a break below 52900 will also be an opportunity to sell

MCX Crude1
TREND : The momentum was very high and the pressure will be seen today also. But the fall seems to be arrested for a day or two atleast. We should go short only at higher levels of 4325 - 4350. Shorting at lower levels is a high risk high reward situation.
SIGNAL: Avoid signals.

NIFTY : Next stop 5405 ..........

Technical Views - Equities 16th June 2011

NIFTY
TREND : What we expect does not happen on some days. But as Technical Analysis helps us in not entering the wrong trades or exiting at small lossess. Which eventually helps us stay alive in the markets and wait for bigger and better trades to create profits in our trading accounts. For today the support 5435 below which we can expect another momentum fall. On the upper side 5480 will act as resistance. Trading strategy for today will be
1) If open gap down do not trade for 30 mins and then use the days high and low to find the trend of the day.
2) If we open around 5450, Use 5435 as SL to go long
3) Use both buy and sell signals for the day
SIGNAL : Use buy and sell signals of TDI - BS signals

BANKNIFTY
TREND : Similar patterns in-line with Nifty, The support is at 10600 and resistance at 10725
SIGNAL : Use buy and sell signals of TDI - BS for the day

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Wednesday, June 15, 2011

Silver - Use buy signals to go long today

Technical Views - Commodities 14th June 2011

MCX GOLD1
TREND : Some downside left. major supports are at 22150 and resistance at 22340. We can play both long and short for the day
SIGNAL : Use Sell Signals of TDI BS.

MCX SILVER1
TREND : Though we have a target of 50900. But today we will go long on the BUY signals also. There is a divergence on the charts which suggest a pull back. So 50900 might be achieved or maybe in the next fall after the pull back. For today 52000 - 52600 are the important levels

MCX Crude1
TREND : For today 4325 and 4385 are the important levels. Avoid signals in crude
SIGNAL: Avoid signals.

Tatamotors - Book profits and sit in cash

Technical Views - Equities 15th June 2011

NIFTY
TREND : Trades above 5530 will be a confirmation of the breakout of the wedge and the target for the same is 100 points. So based on this fact we might touch 5615-20 which is the major resistance for Nifty. For today 5485 - 5530 is the range
SIGNAL : Use buy and sell signals of TDI - BS. Above 5530 take only buy signals

BANKNIFTY
TREND : Banknifty is showing much more signs of bullishness if it sustains above 10850. A big bullish move is in the making so lets wait and we will advise you as we get some confirmations on the charts. For today 10770 - 10850 are the levels
SIGNAL : Use buy and sell signals of TDI - BS for the day

TATA MOTORS
TREND : Book profits at 985 and sit in cash. Target achieved.
SIGNAL : Trade the breakout

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Tuesday, June 14, 2011

Everything is down but bounce expected... Play with caution

Technical Views - Commodities 14th June 2011

MCX GOLD1
TREND : 100 points on gold, If you could not make them please blame yourself. For today 22325 will act as support and 22475 as resistance. On break of 22325 we can touch 22150
SIGNAL : Use Sell Signals of TDI BS.

MCX SILVER1
TREND : 52210 last hope for bulls, below that we will touch 50900. The consolidation has broken down and there will be some more momentum. On the contrary we can go long only and only if silver trades above 53175.
SIGNAL: Use both Buy and Sell signals.

MCX Crude1
TREND : We are heading towards 4300 but a bounce back till 4400 cannot be ruled out. 4350 - 4400 are the levels for today.
SIGNAL: Use both Buy and Sell signals.

Tatamotors - Waiting to breakout ....

Technical Views - Equities 14th June 2011

NIFTY
TREND : Small profits is all we are getting these days. But this declining wedge is going to break on the upperside only, The only variable is the time and before we do not get a clear confirmation there is no point to jump into the trades. 5435 - 5520 are the levels for today
SIGNAL : Use buy and sell signals of TDI - BS. Above 5520 take only buy signals

BANKNIFTY
TREND : Play with small quantities and small targets, wait for a confirmation to take positions. For today 10820 will remain as resistance and 10600 as support.
SIGNAL : Use buy and sell signals of TDI - BS for the day

TATA MOTORS
TREND : Tatamotors has been consolidating 1006 - 1026. The breakout of this range will give a swing profit of 20 points either side. Must trade rating for this scrip
SIGNAL : Trade the breakout

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Monday, June 13, 2011

Wait for the breakout to find the new direction

Technical Views - Commodities 13th June 2011

MCX GOLD1
TREND : We have started witnessing volatility in the movement of gold prices. 22475 and 22620 are the levels where this consolidation will break and we will witness a one side movement
SIGNAL : Use Buy Sell Signals of TDI BS.

MCX SILVER1
TREND : On similar lines of Gold, Silver is also consolidating and the range for the same is 54150 - 56150. the trading plan for today is to buy on signals near the support and sell on signals near the resistance. We will also trade the breakout.
SIGNAL: Use both Buy and Sell signals.

MCX Crude1
TREND : Below 4500 we made some money. For today 4420 - 4450 are the minor support and resistance and 4390 - 4500 are the major levels.
SIGNAL: Use both Buy and Sell signals.

Wait and Watch for clear signs of the next move

Technical Views - Equities 13th June 2011

NIFTY
TREND : We broke the lower broader range of 5470 but at the end of the day entered the range again. It seems the markets are too confused on the direction. Till clear signs emerge on the charts lets wait and watch. For today support is at 5470 and ressitance 5520
SIGNAL : Use buy and sell signals of TDI - BS.

BANKNIFTY
TREND : We could make some money in banknifty. For today 10700 will remain as resistance and 10600 as support.
SIGNAL : Use buy and sell signals of TDI - BS for the day

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Friday, June 10, 2011

Some Bullish Moves in the making......

Technical Views - Commodities 10th June 2011

MCX GOLD1
TREND : For today support comes at 22500, and resistance at 22650. Gold is trying to consolidate at these levels. So our trading strategy will be to book small profits and exit on small SL also. Major moves only above 22800 or below 22500. (at 22550 we got stopped out twice so we feel the better breakdown level has been shifted to 22500
SIGNAL : Use Buy Sell Signals of TDI BS.

MCX SILVER1
TREND : A cross of 55400 has given us a sign of a move till 59000 in the making. Though the confirmations are yet to come which we will communicate through this blog. But yes we have seen the first signs of a 3000 point rise from here. For today 56950 is a good resistance and you can use the same as SL to buy or sell depending upon the signal. At the lower end 54800 is the support
SIGNAL: Use both Buy and Sell signals.

MCX Crude1
TREND : We went down and we went up, but not a single trade was done. the range for today is 4500 - 4580. Bias has turned bullish
SIGNAL: Avoid signals for the day

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ONGC - book profits today and get out.

Technical Views - Equities 10th June 2011

Sorry for not posting yesterday.

NIFTY
TREND : Its really good that nifty is consolidating before its next move. The broader range of the consolidation is 5470 - 5610. For today the range is 5490 - 5550. We
SIGNAL : Use buy and sell signals of TDI - BS. Above 5610 use only buy signals

BANKNIFTY
TREND : For today 10720 - 10925 are the support and resistance. Only trade the breakout..
SIGNAL : Use buy and sell signals of TDI - BS for the day

STOCK PICK ONGC
TREND : Bang on Target. Close your positions around 265. We have made are money from Ongc and will be out of it today. Lets wait for the next scrip
SIGNAL:cover shorts and stay out

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Wednesday, June 8, 2011

Consolidation is what we expect today

Technical Views - Commodities 8th June 2011

MCX GOLD1
TREND : For today support comes at 22550, and resistance at 22800. Gold is trying to consolidate at these levels. So our trading strategy will be to book small profits and exit on small SL also. Major moves only above 22800 or below 22550.
SIGNAL : Use Buy Sell Signals of TDI BS.

MCX SILVER1
TREND : Profits in both directions. For today again the support is at 54800 and resistance at 55850. avoid signals between this range
SIGNAL : Avoid signals for the day

MCX Crude1
TREND : 4450 is the resistance and support at 4380. Bias is bearish, but avoid signals until something clear is visible on the charts
SIGNAL: Avoid signals for the day

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No clear signals for today in NIfty ..........

Technical Views - Equities 8th June 2011

NIFTY
TREND : No big moves but one side up helped us make some money. For today 5520 will act as support and 5610 as resistance. Look to buy closer to 5520 and sell around 5590 with 5610 as SL
SIGNAL : Use buy and sell signals of TDI - BS. Above 5610 use only buy signals

BANKNIFTY
TREND : Stopped out in BankNifty yesterday, For today sell below 10825 and for longs we can buy with 10800 as SL for a target of 11000
SIGNAL : Use buy and sell signals of TDI - BS for the day

STOCK PICK ONGC
TREND : We are still short on ONGC with a SL of 281. Long side trades only above 281.
SIGNAL:Use sell signals only. Buy signals should be used to cover your shorts. Do not go long for today

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Tuesday, June 7, 2011

Silver Down, Gold Down, Crude no clear signals......

Technical Views - Commodities 7th June 2011

MCX GOLD1
TREND : The gap in price of 2 trading months resulted in the channel breakout. Since this is not a normal price rise, we will not use it as a breakout and wait for new patterns to develop. For today 22800 will act as resistance and 22650 as support
SIGNAL : Use Buy Sell Signals of TDI BS.

MCX SILVER1
TREND : We made some money in silver by going long. For today longs can be created only above 55800 or closer to 54500-700 when a buy signal comes on the charts. Shorts can be created with a SL of 55800 only.
SIGNAL : Use buy and sell signals of TDI BS for the day

MCX Crude1
TREND : Against our expectations Crude was very volatile and we lost some money in it. For today 4430 is support and 4500 is resistance.
SIGNAL: Use Buy and sell signals of TDI BS

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