NIFTY View For Month of DEC-2020

Nifty (Spot/ Cash) Trading at the Higher end of the Rising Wedge. As marked with Red and Green Arrows in the chart below.

 We can see some profit booking in Nifty From here. From here we may see some correction in the market. Bullish if closes above 13200 in the spot, If closes above 13200 we may see rally upto 13500. Till then Stay on the short side with SL 13200 for targets of 12800.

 

CHANA NCDEX Short Term Views

 #CHANA NCDEX (23-Sept-2020)

🟢In the month of August 2017 Touched High of 6428 and in month of June 2018 Touched Low of 3245 Correction of 3183 Points

🟢 When Fibonacci Series (Read on Google to Read more for Fibonacci Series) is placed on from High to low (6428 to 3245)  

🟢 See from the attached Chart CHANA Has crossed 61.8% Fibonacci levels @ 5212 (Short Term Support)

🟢 Fibonacci 50% Level @ 4836.5 will act as strong Support for CHANA from here.

🟢 Now the levels for upside up to 78.6% i.e. @ 5746 is open. Once Sustains above 5212 for 1-2 Weeks We can see Another leg of rally from here.

🟢 Note that Best buying levels for long term i.e. 3-6 Months are 4836.50-4900.

Nifty Short Term View (22-Sept-2020)

 NIFTY ON 22-SEPT-2020 On the short term basis Trading at support Levels, Till Nifty Future Hold levels of 11090, One Can See some buying in the Market and Nifty Fut Can Head Towards 11250-11300 Levels. 

Once Nifty Future Closes below 11080 We may see sharp correction in the Index future, So As per the Technical Chart Structure Today low 11103 may act as make or break levels. Keep A close watch on the Index moves.

This Post is for Educational purpose, Kindly consult to your Financial adviser before taking any buy or sell decision.

GRASIM INDUSTRIES WEEKLY BREAKOUT

Grasim Industries on the weekly chart closed above Falling Channel Pattern resistance, Stock is likely to head towards higher levels in the next few trading sessions. One can initiate long position in Grasim with Stop loss of 650 on closing basis. We can Expect Targets of 850-900

This post is for educational purpose, consult to your financial adviser before taking any buy or sell decision.

Will SILVER Head towards Higher Levels from 50500 levels ??

SILVER MCX

SILVER MCX has seen Fresh Breakout above 49300, sharp up move has been seen in the SILVER MCX once it broke 49300 on the last Friday Trading session,

Now these levels around 49300-49500 will act as support for the SILVER, on the upside Resistance is seen around 51500 levels, Fresh up move will be seen only once SILVER MCX sustains above 51500 levels.

Strategy: Go Long in SILVER MCX Around Support Levels 49300- 49400 Levels on correction for the Targets of 51500- 53500 with the stoploss placed below 48300

SILVER COMEX

SILVER COMEX has support Zone of 17.55$ to 17.45$ As marked with the Zone in the Chart and on the Upside 18.50$ is the Resistance zone.

As the Trend is Up we may also see Silver Breaking the Upside Resistance of 18.50$ once Sustains and closes above 18.50$ we may see further upside in the SILVER COMEX

GOLD MCX JUNE 2020 PREDICTION

GOLD MCX

GOLD MCX trading around resistance levels of 46950 and if GOLD MCX sustains above 46950 we may see upside in the GOLD MCX and It can again head towards levels of 48000- 50000 in the coming days.

If GOLD MCX do not sustains above levels of 46950- 47050 We may see Gold MCX again heading towards channel support levels of 45600-45500. 

Strategy to Play: So right now we are trading at make or break levels which should be played on the long side with small stoploss and once Stoploss is hit one can reverse the position to short.

GOLD COMEX

GOLD COMEX is trading in Rising Wedge Technical Pattern (Marked with Blue Lines in the chart Above) Support Zone for the GOLD COMEX is 1725- 1735$ Per Ounce.

One can Buy with Targets of 1772 $ and Stop loss Below 1710$.

You Can Use These Levels to Play GOLD MCX MINI (Take you Own Decision and Analyse you Risk Capacity Before Entering into position)