Sunday, 27 October 2013

GOLD AND SILVER COMEX Weekly Analysis (28-Oct-2013)

GOLD COMEX WEEKLY:
We Recommend to long GOLD COMEX above 1360$ for target of 1400$ with Stoploss of 1340$ Alternatively Go Short below 1325$ for Targets of 1300$ with Stoploss of 1345$
Trading Strategy: 
GOLD COMEX has stiff resistance @1355-1360$ levels. Markets Looks to be in Favor of Bulls and it Seems that Gold will breach its Immediate resistance Levels. Next Minor Resistance Level  that GOLD COMEX faces is @1370 and a Next Major Resistance is @1400$ which would also act as an psychological Level for GOLD. Alternatively if Unable to cross Resistance of 1355$ you may see Sell off below 1330$-1325$ and it can Head towards 1300$ mark.
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SILVER COMEX WEEKLY
We Recommend to initiate Long Position above 22.90$ for Target of 23.65$ and also buy at any Correction @22.10$. Stoploss should be maintained below 21.70$.
Trading Strategy: 
SILVER COMEX has formed classical double bottom pattern in a down trend and trading near to immediate Resistance Levels @22.85$ if SILVER COMEX crosses the levels of 22.85$ it may head towards higher levels @23.65$ Alternatively fresh long Position can also be initiated at lower levels around 22.10$.


STOCK FOR WEEK

5 Stock Recommendation For Week.

1. BUY AXIS BANK ON DIPS @1170 SL 1120 TGT 1220

2. BUY BAJAJ AUTO ON DIPS @2060 SL BELOW 2030 TGT 2100

3. SEL HCL TECH BELOW 1135 SL 1145 TGT 1020

4. BUY LIC HOUSING ABOVE 215 SL 210 TGT 225

 5. BUY SESA GOA ABOVE 196 SL 188 TGT 206

NIFTY SPOT (28-OCT-2013)

NIFTY SPOT (28-OCT-2013)

Nifty Index is Trading near to its all time Highs. Bulls are in and Hence Buying at any Major Supports Will be Recommended. Immediate Strong Support @ 6080-6090. Immediate Resistance @6210-6220

Trading Strategy For The Week
1. Buy NIFTY @6080-6090 TGTS 6250/6300
2. Buy NIFTY Above 6220 TGTS 6250/6300