NIFTY & USD/INR Report 30th December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after the flat opening at 4706 failed to trade above 4725 and on lower side after crossing the level of 4680 it tested the days low at 4663 and closing was also seen near the lower level of 4669. Today as the Asian market is trading positive and as the international market there is low volume just before the year and closure of the books we expect nifty to trading in the range where higher side resistance is seen at 4720 and lower side support is expected at 4660 level. On lower side if sustain trading is seen below 4660 will open the door for 4400 to 4200 in near term, whereas on higher side resistance is seen at 4775 on closing basis. It’s not expected to cross the higher resistance of 4800 and till the time its holding the same selling at rise is advisable, where in medium term 4350 is the target which is 100% expansion of a - b from point c and can also test 3900 which comes to 161.8% in medium term. Stochastic has just nearing the overbought zone and if the resistance is taken at 4800 will turn -ve and will move back to lower zone.

VIEW ON RUPEE

USD/INR: Rupee yesterday closing was seen positive at the level of 53.68 where it tested the higher level of 53.8 and short profit booking at high was seen. Today opening was seen downward around 53.6 per$ where some positive move is expected where on lower side support is seen at 53.5 per$ and on higher side immediate resistance is seen at 54 per$ where till the time support of 53.5 holds buying at dips is advise around 53.6 per$ and will test 54 and above 54 per$ will further move to 54.4 in near term. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in medium terms and long term target of 58 cannot be denied where buying at dips is advice in medium term for positional traders. Stochastic which has given positive intersection near lower zone which indicates price will rise side way to upside and higher target can be tested soon.

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Daily NIFTY & USD/INR Report 29th December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after the gap down opening at 4736 failed to trade above 4750 and on lower side it tested the lower level of 4681 and closing was just seen at 4700 where the 10 DMA was there, with the international market news on Euro zone crises where banks are holding the funds gave sharp correction in market. Today as the Asian market is trading downward and nifty is expected to open around 4670 and will take support 10 DMA at 4660 and if trading is seen below 4660 will bring to lower level of 4610 and 4550 in near term. On lower side if sustain trading is seen below 4550 will open the door for 4400 to 4200 in near term, whereas on higher side resistance is seen at 4775 on closing basis. It’s not expected to cross the higher resistance of 4800 and till the time its holding the same selling at rise is advisable, where in medium term 4350 is the target which is 100% expansion of a- b from point c and can also test 3900 which comes to 161.8% in medium term. Stochastic has just nearing the overbought zone and if the resistance is taken at 4800 will turn -ve and will move back to lower zone.

VIEW ON RUPEE

USD/INR: Rupee yesterday closing was seen positive at the level of 53.6 where it tested the higher level of 53.8 and short profit booking at high was seen. Today opening was seen positive around 53.77 per$ where some positive move is expected where on lower side support is seen at 53.5 per$ and on higher side immediate resistance is seen at 54 per$ where till the time support of 53.5 holds buying at dips is advise around 53.65 per$ and will test 54 and above 54.2 and further will move to 54.4 in near term. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in medium terms and long term target of 58 cannot be denied where buying at dips is advice in medium term for positional traders. Stochastic which has given positive intersection near lower zone which indicates price will rise side way to upside and higher target can be tested soon.

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Daily NIFTY & USD/INR Report 29th December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after the gap down opening at 4736 failed to trade above 4750 and on lower side it tested the lower level of 4681 and closing was just seen at 4700 where the 10 DMA was there, with the international market news on Euro zone crises where banks are holding the funds gave sharp correction in market. Today as the Asian market is trading downward and nifty is expected to open around 4670 and will take support 10 DMA at 4660 and if trading is seen below 4660 will bring to lower level of 4610 and 4550 in near term. On lower side if sustain trading is seen below 4550 will open the door for 4400 to 4200 in near term, whereas on higher side resistance is seen at 4775 on closing basis. It’s not expected to cross the higher resistance of 4800 and till the time its holding the same selling at rise is advisable, where in medium term 4350 is the target which is 100% expansion of a- b from point c and can also test 3900 which comes to 161.8% in medium term. Stochastic has just nearing the overbought zone and if the resistance is taken at 4800 will turn -ve and will move back to lower zone.

VIEW ON RUPEE

USD/INR: Rupee yesterday closing was seen positive at the level of 53.6 where it tested the higher level of 53.8 and short profit booking at high was seen. Today opening was seen positive around 53.77 per$ where some positive move is expected where on lower side support is seen at 53.5 per$ and on higher side immediate resistance is seen at 54 per$ where till the time support of 53.5 holds buying at dips is advise around 53.65 per$ and will test 54 and above 54.2 and further will move to 54.4 in near term. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in medium terms and long term target of 58 cannot be denied where buying at dips is advice in medium term for positional traders. Stochastic which has given positive intersection near lower zone which indicates price will rise side way to upside and higher target can be tested soon.

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NIFTY & USD/INR Report 28th December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after sideway opening at 4774 tested the higher level of 4804 where the 20 DMA resistance was seen at 4815 and on lower side after testing the lower level of 4725 closing was seen around the level of 4756. Today as the Asian market is trading flat to -ve nifty is expected to open around 4740 and will take support 10 DMA at 4702 and if trading is seen below 4702 will bring to lower level of 4640 and 4550 in near term. On lower side if sustain trading is seen below 4700 will open the door for 4660 to 4600 in near term, whereas on higher side resistance is seen at 4775. It’s not expected to cross the higher resistance of 4800 and till the time its holding the same selling at rise is advisable, where in medium term 4350 is the target which is 100% expansion of a- b from point c and can also test 3900 which comes to 161.8% in medium term. Stochastic has just nearing the overbought zone and if the resistance is taken at 4800 will turn -ve and will move back to lower zone.

VIEW ON RUPEE

USD/INR: Rupee yesterday closing was seen positive just above the resistance level of 53 per$ at the level of 53.08 and as expected is moving upside where we expect it to test the level of 53.5 to 53.8 in near term. Today opening was seen sideway around 53.05 per$ where some range bound move is expected where on lower side support is seen at 52.9 per$ and on higher side immediate resistance is seen at 53.4 per$ where till the time support of 52.8 holds buying at dips is advise around 53.05 per$ and will test 53.2 and above 53.2 will move to 53.4 in near term. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in medium terms where buying at dips is advice in medium term for positional traders. Stochastic which has given positive intersection near lower zone which indicates price will rise side way to upside and higher target can be tested soon.

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View on Major Currencies & Commodities 26th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO on Friday on Friday which opened at 1.3050 was trading in the range of 1.3100 as resistance and support is seen at 1.3020 where range bound move as seen. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

GBP/USD: British Pound on Friday which opened at 1.5675 failed to trade above 1.5700 and after testing the lower level of 1.5585 closing was seen near days low at 1.5588 level. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

AUD/USD: Australian Dollar on Fridays after the opening at 1.0129 was trading in the range of 1.0200 as resistance and support was seen at 1.0120 and after the range bound move trading was seen positive at 1.0148 level. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

NZD/USD: Newzeland Dollar on Friday after opening at 0.7743 failed to trade above 0.7760 and on lower side it tested the level of 0.7715 where 0.7700 was support level. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

USD/JPY: Japanese Yen on Friday after opening at 78.16 failed to trade above 78.2 and on lower side support was seen at 78 and closing was just near the support level. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

VIEW ON MAJOR COMMODITIES

Gold: Gold on Friday after taking support of 1600$ as trading in the range whereon higher side it failed to cross 1615$ and support was seen at 1600$ as the International market are having holiday its expected to trading in the range where not much move is expected. Today opening was seen flat around 1605$ and is trading at 1604$ where it’s trading in the range of 1610$ resistance on closing basis and support of 1598$ on closing basis, and either side move on closing basis will confirm the trend. In short term time frame some range bound move is expected where 1620$ is resistance and 1570 will be the support level in medium term. On higher side at 1620$ is crossed will bring to 1640$, where as if its holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1440$ will be tested in medium term. Stochastic has just popped out above the overbought zone where short room is getting generating before the next down side move which is expected if sustain trading below 1600 on closing basis.

Silver: Silver on Friday after opening at 29.06$ support as taken at 29$ and after testing the higher level of 29.42 closing was seen flat around the level of 29.05$. Today after the opening at 29.08$ trading range is expected of 29.2$ resistance and support will be seen at 29$ and sustain trading below the same will give move towards 28.8 – 28.5 immediately, as the support is holding strongly in past few trading session. Whereas further trading below 28$ will bring to 26$ – 24$ in near to medium term. On higher side only on closing basis above 30 - 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 20% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude on Friday after the opening at 107.79$ was trading in the range where on higher side it failed to cross the level of 108.5$ and on lower side support was seen at 107$ and closing was just positive at 107.97$. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic has near he overbought zone where some side wait and watch for the week end is advise.

Copper: Copper after the positive opening at 7455 after taking support of 4730 traded positive and tested the level of 7500 and closing was also seen at days high. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic has near he overbought zone where some side wait and watch for the week end is advise.

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xDirect India

NIFTY & USD/INR Report 26th December, 2011

VIEW ON NIFTY

Nifty: Nifty after the positive opening at 4767 just reverted fromn the higher level of 4770 and on lower side it tested the low of 4695 and closing was seen at the level of 4720 just above the support level of 4700. Today as the Asian market is trading flat to positive with the international market on Holiday mood, nifty is expected to open positive and trading will be seen in the range of 4770 resistance and support will be seen at 4680 and if it fails to cross 4770 and 4800 level selling may be seen from higher level where 4700 can be retested. On lower side if sustain trading is seen below 4740 will open the door for 4680 to 4600 in near term, whereas on higher side resistance is seen at 4780. Its not expected to cross the higher resistance of 4800 and till the time its holding the same selling at rise is advisable, where in medium term 4350 is the target which is 100% expansion of a- b from point c and can also test 3900 which comes to 161.8% in medium term. Stochastic are trading in the mid zone where its still showing upside move where if the price cross 4800 will enter in over bought zone where as if support is broken will become side way for further confirmation of trend.

VIEW ON RUPEE

USD/INR: Rupee on Friday after the opening at 52.7 fails to trade below 52.7 and reversal in price was seen where on higher side it tested the level of 52.99 where 53 was the resistance seen in market, closing was seen at the higher level of 52.97. Today opening was seen sideway around 52.9 per$ where some range bound move is expected where on higher side resistance is seen at 53 per$ and on lower side support is seen at 52.8 per$ where is the support of 52.5 holds buying at dips is advise and will test 53.2 and above 53.2 will move to 53.4 in near term. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in medium terms where buying at dips is advice in medium term for positional traders. Stochastic are nearing the oversold zone with positive intersection where if the price move above 53 will move towards higher zone where some buying may be seen for higher level.

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NIFTY & USD/INR Report 23rd December, 2011

VIEW ON NIFTY
Nifty: Nifty yesterday after the low opening at 4671 couldn't cross the lower support of 4630 and on the higher side it tested the level of 4755 where the closing was also seen at days high. Today as the Asian market is trading positive it’s expected that Nifty will open gap up where this recent rise from the lower level of 4536 will only be the retracement of the fall from the higher level of 5131 to 4536 which is 38.2% of the fall, and if the resistance of 4765 is holding on closing basis I expect it to test the level of 4680 and 4550 before expiry. On lower side if sustain trading is seen below 4720 will open the door for 4550 to 4200 in medium term, whereas on higher side resistance is seen at 4780. Its not expected to cross the higher resistance of 4800 and till the time its holding the same selling at rise is advisable, where in near term 4350 is the target which is 100% expansion of a- b from point c and can also test 3900 which comes to 161.8% in medium term. Stochastic are trading in the mid zone where its still showing upside move where if the price cross 4800 will enter in over bought zone where as if support is broken will become side way for further confirmation of trend.



VIEW ON RUPEE
USD/INR: Rupee yesterday after the gap up opening at 52.92 couldn't  trade above 53 and on lower side it tested the level of 52.66 where most of the trading was range bound and closing was seen near 52.77 levels. Today opening was seen sideway around 52.71 per$ where some range bound move is expected where on higher side resistance is seen at 523 per$ and on lower side support is seen at 52.55 per$ where is the support of 52.5 holds buying at dips is advise and will test 52.9 and above 53 will move to 53.4 in near term. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in medium terms where buying at dips is advice in medium term for positional traders. Stochastic are nearing the oversold zone and is showing sign of positive intersection where if the price move above 52.8 will give positive intersection and will move towards higher zone where some buying may be seen for higher level.

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View on Major Currencies & Commodities 22nd Dec 2011

VIEW ON MAJOR CURRENCIES
EUR/USD: EURO yesterday after the opening at 1.3080 tested the higher level of 1.3197 but selling pressure was seen at higher level around 1.3200 and in the later part of US session correction was seen and on lower side it tested the level of 1.3043 where closing was seen around 1.3043 near days low. Today’s opening was seen flat around 1.3044 level and taking the lower support of 1.3030 is trading at 1.3065 and expect to take resistance of 1.3100 and if the resistance is holding and trading below 1.3030 will bring to lower support of 1.3000 and further trading below 1.3000 ill indicates lower target will open for 1.2960 – 1.2910 level soon. Only crossover above 1.3200 will bring to 1.3300 – 1.3400 levels. Stochastic which has given a down side intersection in the mid zone and if the support is broken will bring back to over sold zone where selling in price may be expected with expected lower target.

GBP/USD: British Pound yesterday after the opening at 1.5660 tested the higher level of 1.5771 but failed to hold the ground above 1.5750 and in the later part of the US session selling pressure was seen in market where it traded below 1.5700 and tested the lower level of 1.5645 and closing was seen at 1.5670 level just above the opening level. Today the opening was seen flat around the level of 1.5670 and taking support of 1.5640 is trading at 1.5690 level and expected trading range will be 1.5750 – 1.5650. Further trading below 1.5650 will continue the down trend where 1.5550 to 1.5450 will be immediate target. On higher side immediate resistance is seen at 1.5750 and crossover above the same will move to test 1.5850 to 1.5950 again. Till the time 1.5750 is holding on closing basis short correction can be expected. Stochastic has just near to the overbought zone where if the resistance is crossed will enter the higher zone and some upside momentum in price can be seen or if support is broken will bring short covering in market.


AUD/USD: Australian Dollar yesterday after the opening was seen at 1.0077 failed to trade below 1.0040 and after crossing the higher resistance of 1.1000 it tested the higher level of 1.0218 where resistance was seen at 1.0200 level and in the later part of the US session selling pressure was seen and closing was seen at 1.0100 just above the opening level. Today after flat opening around 1.0100 it fails to cross higher resistance of 1.0150 and is trading at 1.0100 where immediate resistance is seen at 1.0150 and if trading is seen below 1.0050 will move to test 1.0000 and 0.9940 immediately. On higher side sustain trading above immediate resistance level of 1.0150 will bring to 1.0250 to 1.0400 level. Stochastic which are trading in the mid zone is trading flat and showing sign of giving negative intersection where if price trade below the support level will bring back to over sold zone where further selling may be expected.

NZD/USD: Newzeland Dollar yesterday after the flat opening at 0.7676 traded positive and tested the higher level of 0.7773 and closing was also seen positive at 0.7702 levels. Today the opening was seen sideway at 0.7703 taking resistance of 0.7720 it is trading at 0.7695 levels where on higher side if the resistance is holding and sustain trading below 0.7650 will indicate short term top is placed and will move to test the level of 0.7600 – 0.7550 in near term. We expected some range bound to down side move in market where 0.7750 is resistance and support is seen at 0.7650 and selling at rise is advice in near term. Stochastic has reverted from the over sold zone and is trading around 30% zone where is flat where some range bounce move is expected.

USD/JPY: Japanese Yen in the past few trading session is the range in the range where 78.2 is the resistance and support is seen at 77.6 level, yesterday after opening at 77.88 buying was seen in market where on lower side it tested 77.64 and closing was seen at 78.05 level. Today opening was seen at 78.05 and is trading just above 78 near 78.5 levels where resistance is seen at 78.2 on higher side. Trading range can be seen for the day where 78.2 will be higher side resistance and support is seen at 77.7 on lower side. Stochastic has given negative intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES

Gold: Gold yesterday after side way opening 1615$ tested the higher level of 1641$ in the early US market opening but reversal in price was seen shapely where on lower die it tested the lower support of 1605$ and closing was flat around 1615$ where the formation of the candle is spinning top. Today opening was seen flat around 1615$ and is trading at 1608$ where it’s trading near the support level of 1605$ and 1600$ and till the time higher resistance of 1615$ is holding we expect it to test 1595$ and 1585$ to be tested immediately. In short term time frame some range bound move is expected where 1630$ is resistance and 1570 will be the support level. On higher side at 1635$ is crossed will bring to 1640$, where as if its holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1440$ will be tested. Stochastic has just popped out above the overbought zone where short room is getting generating before the next dow n side move which is expected if sustain trading below 1580 on closing basis.

Silver: Silver yesterday after flat opening at 29.53 tested the higher level of 30.18 but fails to sustain above 30$ and reversal in price was seen and after testing the lower level of 29.11 closing was seen at 29.35 near days low. Today after the opening at 29.25 it has taken the resistance of 29.35 and is trading at 29.11 $ where immediate resistance is seen at 30$ and if fails to cross the higher resistance and sustain trading below 29 $ will bring to 28.6 to 28 $ in near term, where as further trading below 28 will bring to 26 – 24 in near to medium term. On higher side only on closing basis above 30 - 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 20% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude yesterday after the positive opening at 107.12 has taken support @ 106 and reversal was seen in the price where on higher side it tested the level of 108.12 level and closing was seen at 107.74 level. Today after the opening was seen flat around the level of 107.7 tested the level of 107.8 failing to cross the resistance of 108 and is trading around the level of 107.5 days low where its expected to trade below 107 and test 106 and 105 immediately, further trading below 105 will being to 103.5 and 101 in near term. Crossover above 108$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 111$. If sustain trading below 106.5$ will open the door for 104 to 101$ on lower side till the time 108$ is holding for the day. Stochastic has reverted form the lower zone and is trading upside where is trading in the mid zone where if the resistance is holding will trade side way were further trading above 108 will bring to overbought zone and only trading below 106.8 will give indication of some profit booking in market.

Copper: Copper after the positive opening at 7430 was trading in the range where on higher side was not above to cross the level of 733 and on lower side support was taken at 7335 level where 200 points was the range, and closing was seen at 7421 level just near the opening level. Today we look side way trend to continue where on higher side resistance is seen at 7550 and support is seen at 7300 and either side move will further confirm the trend in market, where its expected to trade negative if sustain trading is seen below 7300 with target of 7100 and 6800 in near term. Sustain trading above 7550 will indicates uptrend is still to continue where 7800 can be the higher side target. Stochastic has reverted from the oversold zone just popping above 20% indicating if price inches up above the resistance level then will try to move towards overbought zone in near term.

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NIFTY & USD/INR Report 22nd December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after the positive opening at 4623 failed to cross the lower support of 4600 and on the higher side it tested the level of 4721 where the closing was also seen at days high. Today as the Asian market is trading -ve it’s expected that Nifty will open gap down around 4680 where on lower side will take immediate support of 4650 and sustain below 4650 will bring to 4580 to 4500 in near term, whereas on higher side its not expected to trade above 4750 and till the time its holding 4750 selling will continue in market. On lower side if sustain trading is seen below 4500 will open the door for 4300 to 4100 in medium term, whereas on higher side resistance is seen at 4750. Stochastic has just popped out above over sold zone and is flat at the level where some range bounce move is expected till the time resistance is holding and may look some selling pressure if trading is seen below 4650 and will reenter in oversold zone.

VIEW ON RUPEE

USD/INR: Rupee yesterday after the gap down opening at 52.92  couldn’t trade above 53 and on lower side it tested the level of 52.51 where most of the trading was range bound and closing was seen near 52.67 levels. Today opening was seen positive around 52.92 per$ where it’s still taking resistance of 53 and is trading -ve at 52.82 where trading range for the day will be 52.5 and 53 where as on lower side buying is expected if support holds at 52.5 and crossover above 53 will bring to 53.5 – 54 in near term. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in medium terms where buying at dips is advice in medium term for positional traders. Stochastic which are trading in the mid zone is showing sign of reversal with positive intersecting which indicates if price move above 53 short term bottom is place and can test 45 and 54.5 level and will move beck to enter in over bought zone.

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View on Major Currencies & Commodities 20th Dec 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday after the opening at 1.3035 failed to trade above 1.3050 and on lower side it tested the level of 1.2982 where 1.2980 was the support taken and closing was also seen near the days low at 1.2995 level. Today’s opening was seen at 1.2996 level and taking the higher resistance of 1.3030 is trading at 1.3010 and expect to trade negative in the range of 1.3050 and 1.2900 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3050 and is expected to test 1.2850 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after the opening at 1.5523 was trading in the range where on higher side resistance was seen at 1.5541 and on lower side support was seen at 1.5466 level where closing was seen negative 1.5495 level. Today the opening was seen flat around the level of 1.5496 and taking support of 1.5480 is trading at 1.5540 level and expected trading range will be 1.5580 – 1.5450. Further trading below 1.5450 will continue the down trend where 1.5400 to 1.5350 will be immediate target. On higher side immediate resistance is seen at 1.5580 and crossover above the same will move to test 1.5650 to 1.5750 again. Till the time 1.5580 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday after the opening was seen at 0.9920 failed to trade positive and tested the lower level of 0.9880 and closing was also seen near the lower level of 0.9894 level. Today after positive opening around 0.9893 it fails to cross higher resistance of 1.0000 and is trading at 0.9940 where immediate resistance is seen at 0.9950 and if trading is seen below 0.9900 will move to test 0.9840 and 0.9800 immediately. On higher side sustain trading above immediate resistance level of 0.9980 will bring to 1.0100 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday after the opening at 0.7634 traded negative and tested the lower level of 0.7940 and closing was also seen negative at 0.7548 levels. Today the opening was seen sideway at 0.7549 taking support of 0.7500 it is trading at 0.7585 levels where on higher side resistance is seen at 0.7650 and till the time its holding the same selling at rise is expected and will test 0.7440 to 0.7350 in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.7350 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.97 after testing lower level of 77.62 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES

Gold: Gold yesterday was trading in the tight range where on higher side it failed to sustain above 1608$ where 1610$ was the resistance and on lower side it took a support of 1583 where 1580 was support level. Today opening was seen positive around 1593$ and is trading at 1598$ where it’s trading near the resistance level of 1605$ and till the time 1605$ is holding we expect it to test 1580$ and 1540$ to be tested immediately. In short term time frame some range bound move is expected where 1620$ is resistance and 1570 will be the support level. On higher side at 1605$ is crossed will bring to 1620$, where as if its holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1470$ will be tested. Stochastic has just popped out above the overbought zone where short room is getting generating before the next down side move which is expected if sustain trading below 1580 on closing basis.

Silver: Silver yesterday after positive opening at 29.72 failed to cross the higher resistance of 30$ and tested the lower level of 28.66 where closing was seen at days low of 28.74 level. Today after the opening at 28.75 it has taken the previous days low as support of 28.66 and is trading at 28.98 $ where immediate resistance is seen at 29$ and if fails to cross the higher resistance and sustain trading below 28.8 will bring to 28 $ in near term, where as further trading below 28 will bring to 26 – 24 in near to medium term. On higher side only on closing basis above 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 20% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude yesterday after the opening was seen at 102.8 has taken support @ 102.2 and reversal was seen in the price where on higher side it tested the level of 104.55 level and closing was seen at 103.45 level. Today after he opening was seen gap up around the level of 104.1 tested the level of 104.44 failing to cross the previous days high and is trading around the level of 103.9 days low where its expected to trade and over to test 103.2 and 102.5 immediately, further trading below 102.5 will being to 100.5 and 98 in near term. Crossover above 105$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 111$. If sustain trading below 102.5$ will open the door for 101 to 98$ on lower side till the time 105$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 15% where some more down side can be seen in the price in coming days.

Copper: Copper after the gap down opening at 7230 was trading in the range where on lower side support was seen at 7200 and on higher side resistance was seen at 7300 where closing was flat at 7250 level. Today we look side way to negative trend to continue where will test 7200 level soon and only if the resistance of 7400 break will continue the uptrend where it will test 7150 – 7050 level immediately. Stochastic has turned negative and is just drifted below oversold zone where it is just below 20% zone where further price action will bring it towards oversold zone.

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xDirect India

Nifty & USD/INR Reprt 20th December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after the gap down opening at 4590 tested the lower level of 4559 and after range bound move closing was seen at 4612 after testing the higher level of 4631 where the gap was filtered. Today as the Asian market is trading sideways and it’s expected that Nifty will open sideway where on lower side will take immediate support of 4550 and sustain below 4550 will bring to 4480 to 4350 in near term, whereas on higher side its not expected to trade above 4650 and till the time its holding 4650 selling will continue in market. Today’s trading range will be 4650 resistance and support of 4450 and trading below 4580 will bring to 4500 – 4450 intraday. On lower side if sustain trading is seen below 4450 will open the door for 4300 to 4100 in medium term, whereas on higher side resistance is seen at 4650. Stochastic has drifted below overbought zone and is trading towards lower zone where further selling in the price is expected in near to medium term.

VIEW ON RUPEE

USD/INR: Rupee yesterday after the gap down opening at 52.91 failed to trade below the same and on higher side it tested the level of 53.36 where most of the trading was range bound and closing was seen near 53.07 levels. Today opening was seen positive around 53.17 per$ where it trades above 53.1 will test 53.5 to 54 in near term. For short term rupee is expected to trade in the lower range of 52.8 per$ support and on higher side immediate resistance is seen at 54.5 and some consolidation move is expected. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in near term where buying at dips is advice in medium term positional traders. Stochastic has reverted from the higher zone with-ve  intersection and is trading at 70% zone with downward intersection where selling can be expected in near term.

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xDirect India

View on Major Currencies & Commodities 19th Dec, 2011

VIEW ON MAJOR CURRENCY


EUR/USD: EURO on Friday was trading I the range of 1.2995 lower supports and on higher side resistance was seen at 1.3085 and closing was flat to positive at 1.3035 level. Today’s opening was seen at 1.3030 level and taking the higher resistance of 1.3050 is trading at 1.3000 and expect to trade negative in the range of 1.3050 and 1.2800 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3150 and is expected to test 1.2800 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound on Friday was trading in the range of 1.5480 lower side support and resistance was seen at 1.5555 level. Today the opening was seen flat around the level of 1.5225 and taking support of 1.5460 is trading at 1.5490 level and expected trading range will be 1.5550 – 1.5400. Further trading below 1.5450 will continue the down trend where 1.5400 to 1.5350 will be immediate target. On higher side immediate resistance is seen at 1.5550 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5550 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUS/USD: Australian Dollar on Friday which open at 0.9980 failed totrade below 0.9890 and after testing the higher level of 1.0025 clsoing was seen at 0.9965 level. Today after positive opening around 0.9986 it fails to cross higher resistance of 1.0000 and is trading at 0.9920 where immediate resistance is seen at 0.9950 and if trading is seen below 0.9900 will move to test 0.9840 and 0.9800 immediately. On higher side sustain trading above immediate resistance level of 0.9980 will bring to 1.0100 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar on Friday opening at 0.7527 failed to trade below 0.7500 and after testing the higher level of 0.7650 closing was seen at 0.7600 level. Today the opening was seen positive at 0.7635 taking support of 0.7570 it is trading at 0.7595 level where on higher side resistance is seen at 0.7650 and till the time its holding the same selling at rise is expected and will test 0.7440 to 0.7350 in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.73500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.97 after testing lower level of 77.62 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES


Gold: Gold on Friday after the opening at 1605 failed to trade below1570$ and reversal in price was seen and after testing the days high of 1601$ closing was seen at 1597$ which was just below the resistance level of 1600$. Today opening was seen positive around 1602$ and is trading at 1588$ where it’s trading near the support level of 1580$ and till the time 1600$ is holding we expect it to test 1550$ and 1540$ to be tested immediately. On higher side at 1600$ where if it holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1470$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.

Silver: Silver on Friday which opened at 29.25$ tested the lower level of 29.08 where it failed to cross the lower level of 29 and reversal in price were seen where it tested the higher level of 29.89 and closing was also seen at 29.62$ just facing resistance at 30$. Today after the flat opening at 28.9$ it is trading at 28.5$ where on lower side support is taken at 28 $ and next support is coming at 26$. If sustain trading is seen below 28$ will test the lower level of 26$ to 24$ immediately, where as only crossover above 31$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 20% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude on Friday where the positive opening was seen at 104.23$ from the previous closing of 103.2$ after testing the fresh low of 102.4$ reversal in price were seen and closing was seen at 103.74 after testing the days high of 104.52$. Today after gap down opening at 102.87 failed to cross the higher resistance of 103 and is trading at 102.6 $ where below 102.4$ is support if broken further down side move can be expected. Crossover above 105$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 111$. If sustain trading below 102.5$ will open the door for 101 to 98$ on lower side till the time 105$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after the gap up opening at 7307 tested the higher resistance of 7400 and closing was seen flat around the level of 7300 where on lower side support was seen at 7260 level. Today we look side way to negative trend to continue where will test 7250 level soon and only if the resistance of 7400 break will continue the uptrend where it will test 7150 – 7450 level immediately. Today expected to give opening near to 7250 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 20% zone where further price action will bring it towards oversold zone.

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xDirect India

Nifty & USD/INR Reprt 19th December, 2011

VIEW ON NIFTY

Nifty: Nifty on Friday after testing the level of 4836 days high failed the cross the higher level of 4850 and on lower side it tested the level of 4623 which was 200 points low form the days high, where the sharp selling was seen at the last two hrs. Today as the Asian market is trading sideways to downside and it’s expected that Nifty will open -ve where on lower side will take immediate support of 4500 and sustain below 4500 will bring to 4400 to 4300 in near term, whereas on higher side its not expected to trade above 4650 and till the time its holding 4650 selling will continue in market. Today’s trading range will be 4650 resistance and support of 4450 and trading below 4580 will bring to 4500 – 4450 intraday. On lower side if sustain trading is seen below 4450 will open the door for 4300 to 4100 in medium term, whereas on higher side resistance is seen at 4650. Stochastic has drifted below overbought zone and is trading towards lower zone where further selling in the price is expected in near to medium term.



VIEW ON RUPEE

USD/INR: Rupee on Friday after the gap down opening at 53.2 per$ from the previous closing of 53.82 tested the lower level of 52.28 and closing was seen near the level of 52.8 per$. With the same RBI intervention as expected it test the level of 52.2 once and is expected reversal where again its trading above 53 where trading will move and test 53.5 – 54 again. Today opening was seen positive around 52.8 per$ where it trades above 53.1 will test 53.5 to 54 in near term. For short term rupee is expected to trade in the lower range of 52.5per$ support and on higher side immediate resistance is seen at 54.5 and some consolidation move is expected. Stochastic has reverted from the higher zone with -ve  intersection and is trading at 70% zone with -ve intersection where selling can be expected in near term.

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xDirect India

Nifty & USD/INR Reprt 16th December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after the gap down opening at 4715 tested the lower support of 4665 and failing to cross the lower level of 4650 reversal in price was seen where on higher side it tested the level of 4780 and closing was seen at 4763 level. Today as the Asian market is trading sideway to positive and it’s expected that Nifty will open positive where on lower side will take immediate support of 4725 and sustain below 4725 will bring to 4680 to 4620 in near term, whereas on higher side its not expected to trade above 4820 and till the time its holding 4820 selling will continue in market. Today’s trading range will be 4820 resistance and support of 4660 and trading below 4770 will bring to 4720 – 4660 intraday. On lower side if sustain trading is seen below 4600 will open the door for 4510 to 4400 in medium term, whereas on higher side resistance is seen at 4800. Stochastic has drifted below overbought zone and is trading towards lower zone where further selling in the price is expected in near to medium term.

VIEW ON RUPEE

USD/INR: Rupee yesterday which open gap up near all time high of 54.4 tested the level of 54.5 as expected the higher was posted and closing was seen at 53.8per$ at day’s low where some RBI intervention was seen in market just below 55 per$ mark. With the same RBI intervention it’s expected to test the level of 52 once and below 51.5 per$ can be tested before fresh trend to commenced where trading range will be 51.5 to 53 for short term. Today opening is expected downward around 53 per$ where it trades below 53 will test 52.5 to 52 in near term. For short term rupee is expected to trade in the lower range of 51per$ support and on higher side immediate resistance is seen at 54.5 and some consolidation move is expected. Stochastic has reverted from the higher zone with -ve intersection and is trading at 70% zone with -ve intersection where selling can be expected in near term.

Report By
xDirect India

View on Major Currencies & Commodities 15th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday after the opening was seen at 1.3030 failed to trade above 1.3050 and after crossing the lower support of 1.3000 it gave further selling where on lower side it tested the level of 1.2950 just testing support of 1.2950 and closing was seen at 1.2980 at days low. Today’s opening was seen at 1.2980 level and taking the lower support of 1.2950 is trading at 1.3010 and expect to trade negative in the range of 1.3050 and 1.2800 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3150 and is expected to test 1.2800 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.
GBP/USD: British Pound yesterday after the opening at 1.5480 failed to trade above 1.5550 and later part of trading session it tested the lower level of 1.5400 and closing was seen at 1.5465 level. Today the opening was seen flat around the level of 1.5465 and taking support of 1.5420 is trading at 1.5490 level and expected trading range will be 1.5550 – 1.5400. Further trading below 1.5450 will continue the down trend where 1.5400 to 1.5350 will be immediate target. On higher side immediate resistance is seen at 1.5550 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5550 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday after the opening at 1.0014 level failed to sustain above 1.0050 level and closing was seen at 0.9908 where days low was posted at 0.9880 previous days low was seen. Today after flat opening around 0.9910 it fails to cross the lower support of 0.9860 and is trading at 0.9910 where immediate resistance is seen at 0.9950 and if trading is seen below 0.9900 will move to test 0.9840 and 0.9800 immediately. On higher side sustain trading above immediate resistance level of 0.9980 will bring to 1.0100 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday after the opening at 0.7565 failed to trade above 0.7600 and after crossing the lower support of 0.7550 it tested the lower level of 0.7480 support and closing was seen at 0.7502 level. Today the opening was seen flat at 0.7502 taking support of 0.7460 it is trading at 0.7495 level where on higher side resistance is seen at 0.7550 and till the time its holding the same selling at rise is expected and will test 0.7440 to 0.7350 in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.73500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.97 after testing lower level of 77.62 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.


VIEW ON MAJOR COMMODITIES


Gold: Gold yesterday after the opening at 1666$ failed to trade above 1630$ and after crossing the support level of 1625$ it tested the level of 1563$ and closing was also seen near the lower level of 1574$. Today opening was seen flat around 1577$ and is trading at 1575$ where its trading near the support level of 1562$ and till the time 1600$ is holding we expect it to test 1550$ and 1540$ to be tested immediately. On higher side at 1600$ where if it holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1470$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.

Silver: Silver yesterday after opening at 30.75$ continued to down trend where on higher side it resistance was seen at 31$ and after crossing the level of 30.5 it moved and tested the lower level of 28.5$ and closing was just above the support level of 28$ around 28.7$. Today after the flat opening at 28.9$ it is trading at 28.5$ where on lower side support is taken at 28 $ and next support is coming at 26$. If sustain trading is seen below 28$ will test the lower level of 26$ to 24$ immediately, where as only crossover above 31$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 10% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude yesterday after sideway opening at 108.5 $ and failed to cross the higher resistance of 109$ and trading was seen negative where on lower side it tested the lower level of 104$ and closing was also seen at 104$. Today after gap up opening at 105 failed to cross the higher resistance of 105.5 and is trading at 105.35$ where below 105$ is support if broken further down side move can be expected. Crossover above 107$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 111$. If sustain trading below 105$ will open the door for 102 to 98$ on lower side till the time 107$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after the gap down opening at 7485 traded below the support level of 7500 and tested the low of 7130 and closing was just seen near 7200 level where immediate support is seen at 6700. If sustain trading is seen below 7100 on closing basis will open the door for 6900 and 6300 level soon. Today we look side way to negative trend to continue where will test 7100 level soon and only if the resistance of 7300 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7500 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 20% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

Nifty & USD/INR Reprt 15th December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after the gap down opening at 4793 tested the previous days high at 484 and reverted form the higher level and the low was posted at 4748 and closing was also seen near the days low. Today as the Asian market is trading negative and it’s expected that Nifty will open downward where on lower side will take immediate support of 4700 and sustain below 4700 will bring to 4550 to 4500 in near term, whereas on higher side its not expected to trade above 4800 and till the time its holding 4800 selling will continue in market. Today’s trading range will be 4750 resistance and support of 4620 and trading below 4700 will bring to 4660 – 4620 intraday. On lower side if sustain trading is seen below 4600 will open the door for 4510 to 4400 in medium term, whereas on higher side resistance is seen at 4800. Stochastic has drifted below overbought zone and is trading towards lower zone where further selling in the price is expected in near to medium term.

VIEW ON RUPEE

USD/INR: Rupee yesterday which open gap up at 53.7 per$ traded positive and tested the high of 54.09per$ but after slight correction at higher level closing was seen at 53.91per$, still above the support level of 53.5per$. Today opening is expected positive around 54.1 per$ where it failed to cross the lower level of 53.8 per$ and is expected to trading at 54.2 per$ to 54.6 per$ intraday and is nearing the resistance of 54.3per$. If sustain trading is seen above 54per$ will bring to higher level of 54.5per$ to 55 per$ which will be just the extension target of the rise what we have been seen in past days. Where on lower side it’s not expected to trade below 53.5 per$ on closing basis and any dip will be buying opportunity where on higher side if sustain trading above 54per$ will spark the higher target of 55 per$ to 56 per$ in near term. Stochastic has reverted from the lower zone with positive intersection and is trading at 60% zone with positive intersection where buying can be seen in near term.

Report By
xDirect India

View on Major Currencies & Commodities 14th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday after the opening was seen at 1.3170 failed to trade above 1.3200 and after crossing the lower support of 1.3160 it gave further selling where on lower side it tested the level of 1.3008 just testing support of 1.3000 and closing was seen at 1.3033 at days low. Today’s opening was seen at 1.3033 level and taking the lower support of 1.3000 is trading at 1.3045 and expect to trade negative in the range of 1.3100 and 1.2900 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3250 and is expected to test 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after the opening at 1.5580 failed to trade above 1.5650 and later part of trading session it tested the lower level of 1.5445 and closing was seen at 1.5480 level. Today the opening was seen flat around the level of 1.5480 and taking support of 1.5450 is trading at 1.5490 level and expected trading range will be 1.5550 – 1.5400. Further trading below 1.5450 will continue the down trend where 1.5400 to 1.5350 will be immediate target. On higher side immediate resistance is seen at 1.5550 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5550 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday after the opening at 1.0070 level failed to sustain above 1.0200 level and closing was seen at 1.0015 where days low was posted at 0.9977 previous days low was seen. Today after flat opening around 1.0015 it fails to cross the lower support of 0.9980 and is trading at 1.0025 where immediate resistance is seen at 1.0080 and if trading is seen below 1.0010 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0250 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday after the opening at 0.7625 failed to trade above 0.7670 and after crossing the lower support of 0.7600 it tested the lower level of 0.7550 support and closing was seen at 0.7566 level. Today the opening was seen flat at 0.7565 taking support of 0.7530 it is trading at 0.7565 level where on higher side resistance is seen at 0.7600 and till the time its holding the same selling at rise is expected and will test 0.7480 to 0.7400 in near term. We expected some range bound to down side move in market where 0.7700 is resistance and support is seen at 0.7500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.97 after testing lower level of 77.62 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES

Gold: Gold yesterday after the opening at 1666$ failed to trade above 1680$ and after crossing the support level of 1655$ it tested the level of 1622$ and closing was also seen near the lower level of 1620$. Today opening was seen flat around 1630$ and is trading at 1637$ where its trading below the support level of 1625$ and till the time 1655$ is holding we expect it to test 1600$ and 1580$ to be tested immediately. On higher side at 1655$ where if it holding the resistance level will bring the price to move test the lower support of 1605$ on lower side and further trading below 1600$ will continue the down trend on market where 1550$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.

Silver: Silver yesterday after opening at 31.2$ continued to down trend where on higher side it resistance was seen at 32$ and after crossing the level of 31 it moved and tested the lower level of 30.4$ and closing was just above the support level of 30.5$ around 30.7$. Today after the flat opening at 30.75$ it is trading at 30.9$ where on lower side support is taken at 30.5 $ and next support is coming at 30$. If sustain trading is seen below 31$ will test the lower level of 30.4$ to 30$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude yesterday after sideway opening at 107.11$ and failed to cross the lower support of 107$ and trading was seen positive where on lower side it tested the higher level of 111$ and closing was also seen at 109.4$. Today after gap down opening at 108.5 failed to cross the higher resistance of 109.5 and is trading at 108.7$ where below 108.5$ is support if broken further down side move can be expected. Crossover above 110$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 107$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after the Flat opening at 7580 @ traded below the support level of 7550 and tested the low of 7500 and closing was just seen near 7533 level where immediate support is seen at 7500. If sustain trading is seen below 7500 on closing basis will open the door for 7400 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 7700 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7500 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

Nifty & USD/INR Reprt 14th December, 2011

VIEW ON NIFTY
Nifty: Nifty yesterday after the gap down opening at 4753 tested the lower support of 4735 and did not sustain to trade below 4720 support and in the last half an hour of trading it rose by 100 points giving closing at 4834 at days high. Today as the Asian market is trading negative and it’s expected that Nifty will open on a downtrend where on lower side will take immediate support of 4700 and sustain below 4700 will bring to 4550 to 4500 in near term, whereas on higher side its not expected to trade above 4850 and till the time its holding 4850 selling will continue in market. Today’s trading range will be 4800 resistance and support of 4700 and trading below 4700 will bring to 4660 – 4620 intraday. On lower side if sustain trading is seen below 4600 will open the door for 4510 to 4400 in medium term, whereas on higher side resistance is seen at 4800. Stochastic has drifted below overbought zone and is trading towards lower zone where further selling in the price is expected in near to medium term.

VIEW ON RUPEE

USD/INR: Rupee yesterday which open gap up at 53.2 per$ traded positive and tested the high of53.68per$ but after slight correction at higher level closing was seen at 53.41per$, still above the support level of 53.2per$. Today opening is expected positive around 53.55per$ where it failed to cross the lower level of 53.2 per$ and is expected to trading at 53.7 per$ to 54per$ intraday and is nearing the resistance of 54per$. If sustain trading is seen above 54per$ will bring to higher level of 54.5per$ to 55 per$ which will be just the extension target of the rise what we have been seen in past days. Where on lower side it’s not expected to trade below 53.2 per$ on closing basis and any dip will be buying opportunity where on higher side if sustain trading above 54per$ will spark the higher target of 55 per$ to 56 per$ in near term. Stochastic has reverted from the lower zone with positive intersection and is trading at 60% zone with positive intersection where buying can be seen in near term.


Report By
xDirect India

View on Major Currencies & Commodities 13th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday after the opening was seen at 1.3360 failed to trade above 1.3380 and after crossing the lower support of 1.3300 it gave further selling where on lower side it tested the level of 1.3162 just testing the previous bottom of 1.3150 and closing was seen at 1.3167 at days low. Today’s opening was seen at 1.3170 level and taking the lower support of 1.3150 is trading at 1.3192 and expect to trade negative in the range of 1.3250 and 1.3050 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3250 and is expected to test 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after the opening at 1.5640 failed to trade above 1.5650 and later part of trading session it tested the lower level of 1.5535 and closing was seen at 1.5577 level. Today the opening was seen flat around the level of 1.5575 and taking support of 1.5550 is trading at 1.5620 level and expected trading range will be 1.5680 – 1.5500. Further trading below 1.5550 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5665 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5665 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday after the opening at 1.0200 level failed to sustain above 1.0200 level and closing was seen at 1.0070 where days low was posted at 1.0050 previous days low was seen. Today after flat opening around 1.0070 it fails to cross the lower support of 1.0020 and is trading at 1.0090 where immediate resistance is seen at 1.0150 and if trading is seen below 1.0060 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0250 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday after the opening at 0.7745 failed to trade above 0.7750 and after crossing the lower support of 0.7700 it tested the lower level of 0.7600 support and closing was seen at 0.7626 level. Today the opening was seen flat at 0.7627 taking support of 0.7600 it is trading at 0.7645 level where on higher side resistance is seen at 0.7700 and till te time its holding the same selling at rise is expected and will test 0.7550 to 0.7400 in near term. We expected some range bound to down side move in market where 0.7700 is resistance and support is seen at 0.7500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 7709 after testing lower level of 77.54 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES
Gold: Gold yesterday after the opening at 1713$ failed to trade above 1720$ and after crossing the support level of 1703 – 1700 $ it tested the level of 1656$ and closing was also seen near the lower level of 1665$. Today opening was seen flat around 1665$ and is trading at 1652$ where its trading below the support level of 1655$ and till the time 1680$ is holding we expect it to test 1620$ and 1605$ to be tested immediately. On higher side at 1675$ where if it holding the resistance level will bring the price to move test the lower support of 1605$ on lower side and further trading below 1600$ will continue the down trend on market where 1550$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.

Silver: Silver yesterday after opening at 32.2$ continued to down trend where on higher side it resistance was seen at 32.5$ and after crossing the level of 32.4 it moved and tested the lower level of 30.85$ and closing was just above the support level of 31$ around 31.27$. Today after the flat opening at 31.25$ it is trading at 31.03$ where on lower side support is taken at 31 $ and next support is coming at 30$. If sustain trading is seen below 31$ will test the lower level of 30.4$ to 30$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude yesterday after the gap down opening at 108.4$ and failed to cross the higher resistance of 108.8$ and trading was seen negative where on lower side it tested the lower support of 107$ and closing was also seen at days low of 107.4$. Today after gap down opening at 107.3 failed to cross the higher resistance of 107.5 and is trading negative at days low at 107.2$ where below 107$ is support if broken further down side move can be expected. Crossover above 109$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 107$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after the gap down opening at 7630 @ traded below the support level of 7300 and tested the low of 7523 and closing was just seen near 7574 level where immediate support is seen at 7500. If sustain trading is seen below 7500 on closing basis will open the door for 7400 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 7700 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7500 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

Nifty & USD/INR Report 13th December, 2011

VIEW ON NIFTY

Nifty: Nifty yesterday after the gap up opening at 4901 failed to sustain at higher level above 4900 and after correction below 4870 it drifted further down where on lower side it tested the lower level of 4760 and closing was also seen near the days low at 4766 level. Today as the Asian market is trading negative and it’s expected that Nifty will open negative where on lower side will take immediate support of 4700 and sustain below 4700 will bring to 4550 to 4500 in near term, whereas on higher side its not expected to trade above 4800 and till the time its holding 4800 selling will continue in market. Today’s trading range will be 4800 resistance and support of 4700 and trading below 4700 will bring to 4660 – 4620 intraday. On lower side if sustain trading is seen below 4600 will open the door for 4510 to 4400 in medium term, whereas on higher side resistance is seen at 4800. Stochastic has drifted below overbought zone and is trading towards lower zone where further selling in the price is expected in near to medium term.

VIEW ON RUPEE

USD/INR: Rupee yesterday which open at the level of 52.25 per$ failed to trade below 52.2 and traded side way to upsdei for the day and breached the higher resistance of 52.8 and closing was seen above 53 per$ which was the near term highe on closing basis. Today opening is seen positive around 53.2per$ where it failed to cross the lower level of 53 per$ and is trading at 53.36$ nearing the resistance of 53.4per$. If sustain trading is seen above 53.4 will bring to higher level of 53.8per$ to 54.5 per$ which will be just the extension target of the rise what we have been seen in past days. Where on lower side it’s not expected to trade below 52.8 per$ on closing basis and any dip will be buying opportunity where on higher side if sustain trading above 53.4per$ will spark the higher target of 53.8 per$ to 54.5 per$ in near term. Stochastic has reverted from the lower zone with positive intersection and is trading at 60% zone with positive intersection where buying can be seen in near term.

Report By
xDirect India

View on Major Currencies & Commodities 12th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO on Friday closing was seen at 1.3360 days low where on higher side it failed to cross the level of 1.3385 and was facing resistance at 1.3400 level. Today’s opening was seen at 1.3360 level and taking the higher resistance of 1.3380 is trading at 1.3342 and expect to trade negative in the range of 1.3380 and 1.3200 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above to cross 1.3400 and is expected to test 1.3200 – 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound on Friday yesterday after opening was seen at 1.5655 traded negative and tested the lower level of 1.5630 and closing was seen at days low just near the support level of 1.5600 and in past few trading session we are looking in range bounce move with multiple support of 1.5580 on closing basis. Today the opening was seen flat around the level of 1.5645 and taking support of 1.5600 is trading at 1.5630 level and expected trading range will be 1.5750 – 1.5450. Further trading below 1.5600 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5725 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5725 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar on Friday closing was seen at 1.0166 where on higher side resistance was faced at 1.0200 level and on lower side support was seen at 1.0150 level. Today after flat opening around 1.0166 it fails to cross the lower support of 1.0150 and is trading at 1.0180 where immediate resistance is seen at 1.0200 and if trading is seen below 1.0150 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0300 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar on Friday after testing the lower support of 0.7635 reversals in price was seen where closing was seen at the higher level of 0.7750 levels. Today the opening was seen flat at 0.7750 and is trading negative at 0.77250 levels and trading in the range for the day where on higher side it’s not crossing 0.7780 and on lower side support is seen at days low of 0.7700 level, further trading below 0.7700 will open the door for 0.7640 to 0.7550 level in near term. We expected some range bound to down side move in market where 0.7850 is resistance and support is seen at 0.7630 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.71 after testing lower level of 77.6 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.72 and is trading just above 77.65 near 77.7 levels where support is seen at 77.2 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.2 on lower side. Stochastic has given negative intersection where side way move in price can be expected.


VIEW ON MAJOR COMMODITIES
Gold: Gold on Friday which gave a closing near 1710$ tested the lower support of 1703$ where failed to cross the lower level of 1700$ and we have been waiting for 1680 as the support is broken. Today opening was seen flat around 1713$ and is trading at 1692$ where its trading below the support level of 1700$ and till the time 1700$ and 1705$ is holding we expect it to test 1680$ and 1660$ to be tested immediately. On higher side immediate resistance is seen at 1725$ where if it holding the resistance level will bring the price to move test the lower support of 1680 and 1660$ on lower side and further trading below 1660 will continue the down trend on market where 1625 will be tested. On lower side it is expected to move further down if support of 1600 is broken and will test the lower support of 1640 to 1600$ support level in medium term. Stochastic which are trading in the mid zone is trading flat with positive intersection indicates if the resistance is holding and support are broken below 1700$ will continue to profit booking.

Silver: Silver on Friday where the lower support was taken at 31.3$ closing was seen near the days high of 32.3$ where it has been continuing it trading range of 33$ resistance and 31$ support., Today after the flat opening at 32.2$ it is trading at 31.57$ where on lower side support is taken at 31.4$ and next support is coming at 31$. If sustain trading is seen below 31.4$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude on Friday closing was seen at 108.7$ where on lower side support was taken at 108.3$. on higher side immediate resistance is seen at 109$ and till the time this resistance is holding we expect it to trade below 108$ and will move to test 106 – 102$ on lower side. Today after gap down opening at 1044 failed to cross the higher resistance of 109 and is trading negative at days low at 108.15$ where below 108$ is support if broken further down side move can be expected. Crossover above 109$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 108$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper on Friday failed to cross the lower support of 7600 and reverted from 7616 and on higher side closing was seen at 7793 just below the resistance of 7800 level and its expected trading range will be 7900 resistance and support of 7600 where either side move will further confirm the trend in market. If sustain trading is seen below 7650 on closing basis will open the door for 7500 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 8000 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7600 and expected trading range will be 7700 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.

Report By
xDirect India