BUDGET - BULLION -USD/INR & NIFTY
INDIAN Common Budget will give fresh direction to USD/INR, expected to remain strong. Create position accordingly. Major Support at 45.90 and resistance at 47.20. Gold will be trading on INR move and major policy change in Import duty. NIFTY have strong support at 4770 then 4650. Major resistance is seen at 4930 & 5050.
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Friday, February 26, 2010
Wednesday, February 24, 2010
TRADE RECOMMENDATION
MCX Crude Oil March –Buy at 3655 Target 3685 & 3715 SL 3632
MCX Nickel Feb – Buy at 922-20 Target 932 & 945 SL 914
USD/INR is looking strong for they day. Can buy spot in range of 46.40 Target 46.65 & 46.9 SL 46.22
Nifty Intraday looking strong. Overall Buy on a dips. Buy in range of 4852 Target 4895 & 4930 SL 4819
MCX Nickel Feb – Buy at 922-20 Target 932 & 945 SL 914
USD/INR is looking strong for they day. Can buy spot in range of 46.40 Target 46.65 & 46.9 SL 46.22
Nifty Intraday looking strong. Overall Buy on a dips. Buy in range of 4852 Target 4895 & 4930 SL 4819
Monday, February 22, 2010
Gold may average below $1,000/oz in 2010
Gold may average below $1,000/oz in 2010, and possibly as low as $950/oz, Although there remains huge uncertainty concerning the economic and financial markets, we feel the balance of probabilities favors an eventual resolution of economic imbalances, such that investor interest in gold and silver will gradually begin to unwind,
a steady economic recovery would lead to rising asset values and undermine demand for store-of-value assets with low yields such as gold. Adds, rising gold output, the IMF's plan to sell gold and much lower levels of producer hedge buybacks all make the fundamental outlook bearish.
a steady economic recovery would lead to rising asset values and undermine demand for store-of-value assets with low yields such as gold. Adds, rising gold output, the IMF's plan to sell gold and much lower levels of producer hedge buybacks all make the fundamental outlook bearish.
TRADE RECOMMENDATION
MCX Gold April – Buy at 16835 Target 16900 & 16940 SL 16780
MCX Nickel Feb –Buy at 943 Target 958 & 970 SL 932
Nifty Intraday looking strong. Overall Buy on a dips. Buy in range of 4885 Target 4925 & 4945 SL 4859
USD/INR is looking weak for they day. Can sell spot in range of 46.22 Target 46.00 & 45.85 SL 46.42
MCX Nickel Feb –Buy at 943 Target 958 & 970 SL 932
Nifty Intraday looking strong. Overall Buy on a dips. Buy in range of 4885 Target 4925 & 4945 SL 4859
USD/INR is looking weak for they day. Can sell spot in range of 46.22 Target 46.00 & 45.85 SL 46.42
Thursday, February 18, 2010
TRADE RECOMMENDATION
MCX Gold April –Sell at 16590 Target 16520 & 16480 SL 16635
MCX Copper Feb – Sell at 326.5-27 Target 323 & 321 SL 329.8
Nifty Intraday looking strong. Overall Buy on a dips. Buy in range of 4885 Target 4925 & 4945 SL 4859
USD/INR is looking weak for they day. Can sell spot in range of 46.22 Target 46.00 & 45.85 SL 46.42
MCX Copper Feb – Sell at 326.5-27 Target 323 & 321 SL 329.8
Nifty Intraday looking strong. Overall Buy on a dips. Buy in range of 4885 Target 4925 & 4945 SL 4859
USD/INR is looking weak for they day. Can sell spot in range of 46.22 Target 46.00 & 45.85 SL 46.42
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