VIEW ON MAJOR CURRENCY
EUR/USD: EURO yesterday was quite volatile where during US market after the news of World central bank providing liquidity in the financial market where share reversal in price was seen and where the trading was seen at 1.3330 shapely rose to 1.3530 level and closing was seen at 1.3440 level. Today’s opening was seen at 1.3440 level and taking the higher resistance of 1.3470 is trading at 1.3450 and expect to trade negative in the range of 1.3480 and 1.3320 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 1.3500 and is expected to test 1.3400 – 1.3320 in medium terms. Stochastic which has given a down trend is nearing the lower zone below 30% moving to enter oversold zone indicating further selling to continue in near term.
GBP/USD: British Pound yesterday after opening was seen at 1.5610 tested the lower support level of 1.5520 levels but failed to trade below 1.5480 and traded to test the higher level of 1.5770 and closing was just seen at 1.5700 levels. Today the opening was seen flat around the level of 1.5695 and taking resistance of 1.5720 is trading at 1.5680 level and expected trading range will be 1.5750 – 1.5600. 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 yesterday which opened at 0.9999 levels tested the lower level support at 0.9960 and closing was seen at 1.0277 after testing the higher resistance at 1.0330 levels. Today after flat opening around 1.0277 it fails to cross the higher resistance of 1.0300 and is trading at 1.0210 where immediate support is seen at 1.0150 and if trading is seen below 1.0120 will move to test 1.0060 and 0.9960 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 yesterday which opens near the lower level of 0.7607 tested the support level of 0.7570 and closing was seen at 0.7800 levels just near the resistance level. Today the opening was seen flat at 0.7790 and is trading negative at 0.7780 level and trading in the range for the day where on higher side it’s not crossing 0.7830 and on lower side support is seen at days low of 0.7750 level, further trading below 0.7750 will open the door for 0.7710 to 0.7650 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 0.7750 and selling at rise is advice in near term. Stochastic are showing sign of reversal from the higher zone but yet not given negative intersection where if price trade below support level correction may be seen of recent sharp rally.
USD/JPY: Japanese Yen yesterday closing was seen at 77.6 after testing lower level of 77.23 where it’s trading negative and in range bound move where 78.5 was almost retested. Today opening was seen at 77.6 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 yesterday’s was trading in the range of 1700$ support and resistance was seen at 1720 after testing the level of 1720 t\it tested 1711$ and after the news of Central bank increasing liquidity gold crossed the higher resistance of 1720$ and tested the higher level of 1750$ resistance level. Today opening was seen flat around 1748$ and is trading at 1746$ where the resistance is seen at 1750$ and if it’s holding the resistance of 1750$ and trading below 1745$ will bring to 1735 – 1710$ on lower side. On higher side immediate resistance is seen at 1750$ where if it holding the resistance level will bring the price to move test the lower support of 1710 and 1700$ on lower side and further trading below 1700 will confirm the down trend on market. On lower side it is expected to move further down if support of 1700 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 1745$ will give short profit booking.
Silver: Silver yesterday after opening at 31.92$ tested the lower level of 31$ but failed to trade below 31$ and in the later part of the evening after the news reversal in price was seen and days high was posted at 32.91 and closing was seen near days high at 32.78. Today after the flat opening at 32.80$ it is trading at 32.66$ where on lower side support is taken at 32.5$ and next support is coming at 32$. If sustain trading is seen below 32.5$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ 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 32$ will bring to next support of 30$ in near term.
Brent Crude oil: Brent Crude yesterday after flat opening at 110.8$ fails to trade below 109.5$ and tested the higher level of 112$ and closing was seen at 110.2$ in negative zone. Today after positive opening near 110.55 is nearing the resistance of 111 and is trading at 110.8$ where some more upside is expected and may test 112$ immediately. Crossover above 112$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 110$ will open the door for 108.5 to 106$ on lower side till the time 112$ is holding for the day. Stochastic is trading in the mid zone is trading flat and is expected to move towards the lower zone below 10% where some more selling can be seen in the price in coming days.
Copper: Copper yesterday after gap down opening at 7288 tested the lower support of 7250 and later part of the market sharp reversal in price was seen and it traded at 7955 days high and closing was seen at 7823 level. If sustain trading is seen below 7700 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 7800 and expected trading range will be 7900 to 7500 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic have turned upside nearing overbought zone and is just below 70% zne where further price action if trade above 8000 will bring in overbought zone.
Report By:
xDirect India
EUR/USD: EURO yesterday was quite volatile where during US market after the news of World central bank providing liquidity in the financial market where share reversal in price was seen and where the trading was seen at 1.3330 shapely rose to 1.3530 level and closing was seen at 1.3440 level. Today’s opening was seen at 1.3440 level and taking the higher resistance of 1.3470 is trading at 1.3450 and expect to trade negative in the range of 1.3480 and 1.3320 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 1.3500 and is expected to test 1.3400 – 1.3320 in medium terms. Stochastic which has given a down trend is nearing the lower zone below 30% moving to enter oversold zone indicating further selling to continue in near term.
GBP/USD: British Pound yesterday after opening was seen at 1.5610 tested the lower support level of 1.5520 levels but failed to trade below 1.5480 and traded to test the higher level of 1.5770 and closing was just seen at 1.5700 levels. Today the opening was seen flat around the level of 1.5695 and taking resistance of 1.5720 is trading at 1.5680 level and expected trading range will be 1.5750 – 1.5600. 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 yesterday which opened at 0.9999 levels tested the lower level support at 0.9960 and closing was seen at 1.0277 after testing the higher resistance at 1.0330 levels. Today after flat opening around 1.0277 it fails to cross the higher resistance of 1.0300 and is trading at 1.0210 where immediate support is seen at 1.0150 and if trading is seen below 1.0120 will move to test 1.0060 and 0.9960 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 yesterday which opens near the lower level of 0.7607 tested the support level of 0.7570 and closing was seen at 0.7800 levels just near the resistance level. Today the opening was seen flat at 0.7790 and is trading negative at 0.7780 level and trading in the range for the day where on higher side it’s not crossing 0.7830 and on lower side support is seen at days low of 0.7750 level, further trading below 0.7750 will open the door for 0.7710 to 0.7650 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 0.7750 and selling at rise is advice in near term. Stochastic are showing sign of reversal from the higher zone but yet not given negative intersection where if price trade below support level correction may be seen of recent sharp rally.
USD/JPY: Japanese Yen yesterday closing was seen at 77.6 after testing lower level of 77.23 where it’s trading negative and in range bound move where 78.5 was almost retested. Today opening was seen at 77.6 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.
| Currency pair | Pivot | S3 | S2 | S1 | R1 | R2 | R3 | Trend Index |
| EUR/USD | 1.3450 | 1.3390 | 1.3412 | 1.3430 | 1.3470 | 1.3490 | 1.3510 | Down |
| GBP/USD | 1.5695 | 1.5630 | 1.5650 | 1.5670 | 1.5715 | 1.5735 | 1.5770 | Down |
| AUD/USD | 1.0225 | 1.0095 | 1.0140 | 1.0179 | 1.0265 | 1.0310 | 1.0350 | Down |
| NZD/USD | 0.7780 | 0.7725 | 0.7742 | 0.7765 | 0.7804 | 0.7822 | 0.7844 | Down |
| USD/JPY | 77.62 | 77.30 | 77.39 | 77.53 | 77.76 | 77.85 | 77.99 | Sideway |
VIEW ON MAJOR COMMODITIES
Gold: Gold yesterday’s was trading in the range of 1700$ support and resistance was seen at 1720 after testing the level of 1720 t\it tested 1711$ and after the news of Central bank increasing liquidity gold crossed the higher resistance of 1720$ and tested the higher level of 1750$ resistance level. Today opening was seen flat around 1748$ and is trading at 1746$ where the resistance is seen at 1750$ and if it’s holding the resistance of 1750$ and trading below 1745$ will bring to 1735 – 1710$ on lower side. On higher side immediate resistance is seen at 1750$ where if it holding the resistance level will bring the price to move test the lower support of 1710 and 1700$ on lower side and further trading below 1700 will confirm the down trend on market. On lower side it is expected to move further down if support of 1700 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 1745$ will give short profit booking.
Silver: Silver yesterday after opening at 31.92$ tested the lower level of 31$ but failed to trade below 31$ and in the later part of the evening after the news reversal in price was seen and days high was posted at 32.91 and closing was seen near days high at 32.78. Today after the flat opening at 32.80$ it is trading at 32.66$ where on lower side support is taken at 32.5$ and next support is coming at 32$. If sustain trading is seen below 32.5$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ 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 32$ will bring to next support of 30$ in near term.
Brent Crude oil: Brent Crude yesterday after flat opening at 110.8$ fails to trade below 109.5$ and tested the higher level of 112$ and closing was seen at 110.2$ in negative zone. Today after positive opening near 110.55 is nearing the resistance of 111 and is trading at 110.8$ where some more upside is expected and may test 112$ immediately. Crossover above 112$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 110$ will open the door for 108.5 to 106$ on lower side till the time 112$ is holding for the day. Stochastic is trading in the mid zone is trading flat and is expected to move towards the lower zone below 10% where some more selling can be seen in the price in coming days.
Copper: Copper yesterday after gap down opening at 7288 tested the lower support of 7250 and later part of the market sharp reversal in price was seen and it traded at 7955 days high and closing was seen at 7823 level. If sustain trading is seen below 7700 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 7800 and expected trading range will be 7900 to 7500 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic have turned upside nearing overbought zone and is just below 70% zne where further price action if trade above 8000 will bring in overbought zone.
| Commodity | Pivot | S3 | S2 | S1 | R1 | R2 | R3 | Trend Index |
| Gold | 1746 | 1716 | 1731 | 1738 | 1752 | 1761 | 1776 | Down |
| Silver | 32.67 | 31.87 | 32.27 | 32.43 | 32.83 | 33.07 | 33.47 | Down |
| Crude | 110.78 | 109.78 | 110.28 | 110.57 | 111.07 | 111.28 | 111.78 | Sideway |
| Copper | 7854 | 7510 | 7682 | 7755 | 7926 | 8030 | 8200 | Sideway |
Report By:
xDirect India
• Mukta Arts
ReplyDeleteo Revenue up 42 % at Rs 37 cr
o Net profit of Rs 9.4 cr
o EBITDA at Rs 8.5 cr versus a loss of Rs 0.5 cr
o Margin at 23 % versus -2 %stock market tips