Gold In Bearish Trend(Technical Overview For The Month Of June-2014)

GOLD IN $ TERM

GOLD CLOSED THE MONTH  OF MAY ON 30-5-2014  AT  1246.

Range for the month of May-2014 was:--1315.80---1242.20


SUPPORT:-1230.80 / 1202.30 / 1181.40 / 1179.40 / 1155 / 1084.80 / 1037 / 985.

RESISTANCE:-1268.40 / 1277.40 / 1288 / 1306 / 1316 / 1331.40.



(Figures in bold letters are very important)

Gold is in huge down trend and moved in 73.60 point range in the month of May-2014 and closed the month near the lowest point ,so for the month of June-14 -1242.20 is the support level,if it breaks this level then key support exists at 1202.30 &1179.40  going below 1179.40 it will trigger fresh major downfall  and that can take gold below 1000 mark..Going up the range of 1288-1310 is very tough ,it has to stay above 1288 for a reasonable period of time to indicate that it has made the base and can give an up side rally,chances of which are looking very slim.The steady trend is down but it can give short up rally from time to time.

REMARKS:-Long term trend is bearish ,since it has closed the month at the lowest point it may give a short pull back rally .Those who want to take advantage of the pull back rally can go long with a stop loss of 1240.For investor I would suggest avoid investment in gold and for traders instead of trying long call they should try short call at appropriate level with an adequate stop loss because the trend is down and one should always move with the trend.DO NOT TRADE WITHOUT STOP LOSS

NOTE:-

1.PRICE STATED HERE IS OF SPOT MARKET.

        2.RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

        3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL PROTECTION. 

 Contact me for strategic guidance to enter and exit the trade

Trading Call For 2-6-2014

Get Out Of The Stock(30-5-14)

LAKSHMI ENERGY & FOODS LTD  CMP- Rs.22.30 on 30-5-2014


I recommended the stock to buy  but the company's  financial result for 2013-14 which came out this evening only was very bad, therefore I suggest to get out of the stock.The stock is still good technically.

 Contact me for strategic guidance to enter and exit the trade

CNX-Bank Index Overview For The Week Starting From-2-6-2014

CNX BANK INDEX CLOSED AT  14793.40 ON 30-5-14

Range for the week ended on 30-5-14 was:-15568.05—14709.30

 Range for the month of May-14 ended on was:- 15742.05 -12773.05

SUPPORT:-   14468.10 / 14301.30 / 14240 / 14063

RESISTANCE :- 14857.50 / 14934.95 / 15108 / 15363 / 15742.05 / 15956 / 16560

Index moved in the range of  858.75 points during the week and closed at 14793.40 near the lower range for the week ended on 30-5-14.The technical parameter are showing sign of weakness and the index is making lower top and lower bottom and broken recent closing bottom of  15084 &14952.10  and also running below short term DMA, which indicates that the down correction has possibly set in and may continue for few days ,so now if it break down the level of 14709  and stays below that then it can drag down the index to these level 14468 / 14301 / 14086 / 13695. If it happens then I expect the index to bounce back from the level of 13800-14100.To regain the momentum now it has to close above the short term DMA which is placed at 15090 for  2-6-14 and recent closing top of 15173.35 made on 28.5.2014,the chances of  which are looking bleak, therefore aggressive trader can  go for short trade in the index below 14709.30 with a stop loss of  14750  for the mentioned level or targets .                                                   .                                          

REMARKS:-Long term trend is up, since the index is in correction mode so I suggest to avoid long trade in it as of now. Please use support and resistance level as entry and exit points and also as trailing stop loss in favorable trade. Volatility could be there so trade cautiously and DO NOT TRADE WITHOUT STOP LOSS

 NOTE:-

1.       PRICE STATED HERE IS OF SPOT  MARKET

2.        RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

3.       IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL PROTECTION. 

Contact me for strategic guidance to enter and exit the trade

Nifty Overview For The Week Starting From-2-6-2014

NIFTY CLOSED AT 7229.95   ON 30-5-14

Range for the week ended on 30-5-14 was:-7504 -7118.45

Range for the month of May-14 ended on was:-7563.50—6638.55

SUPPORT:-7296 / 7245 / 7206.70 / 7193 / 7118.45 / 7067.15 / 7020.05 / 6991 / 6869 / 6740 / 6665 / 6650 / 6638.55

RESISTANCE:-  7253/7273 / 7354 / 7450 / 7504/ 7563.50 /  7617 / 7788 / 7988 / 8057

Nifty  moved in the range of 385.55 points during the week and closed the week at 7229.95 which is 111.50  points above the days low of 7118.45 made today itself, this move of today exhibits weakness in the index .Furthermore the technical parameter are showing sign of weakness and the index is making lower top and lower bottom and broken recent closing bottom of  7318  and also running below short term DMA, which indicates that the down correction has possibly set in and may continue for few days and now if it break down the level of 7193 and stays below that then it can drag down the index to these level 7118.45/ 7020/6990 6869/ 6740/6650. If it happens then I expect the index to bounce back from the level of 6900--7000.To regain the momentum now it has to close above the short term DMA which is placed at 7292 for 2-6-14 and recent closing tops of 7329.65 & 7367.10,the chances of  which are looking bleak.                                                                                           

REMARKS:-Long term trend is up, since the nifty is in correction mode so I suggest to avoid long trade in it as of now. Please use support and resistance level as entry and exit points and also as trailing stop loss in favorable trade. Volatility could be there so trade cautiously and DO NOT TRADE WITHOUT STOP LOSS

 NOTE:-

1. PRICE STATED HERE IS OF SPOT MARKET.

2. RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

3. IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL   PROTECTION. 

 Contact me for strategic guidance to enter and exit the trade