Positional Call in Base Metals 25th Aug 2011

Positional Call in Base Metals

Positional Copper Buy @ 408 Stop @ 402 target 420 - 435 (LME @ 8800)

Positional Lead Buy @ 109.5 stop @ 107.5 target @ 114 - 118 - 125 (LME @ 2300)

Positional Nickel Buy @ 965 stop @ 950 target @ 990 - 1030 - 1060 (LME @ 20700)

Positional Zinc Buy @ 100.5 Stop @ 98 target @ 104 - 108 - 115 (LME @ 2150)

Bullions Update

Gold Sell @ CMP of 1800$ target of 1740$ - 1680 $ and 1620$

Silver Sell @ CMP of 39.5$ target of 38$ - 37$ and 34$

Base Metal : Copper Update Symmetrical Triangle Formation

Continue with the previous post on Copper ::
Copper CMP is 8735, is showing sign of forming Symmetrical Triangle Pattern and is reverting from the rising trend line after testing the same at 8700. If this rising trend line is holding then will enter in wave E which will rise to test the higher falling trend line, which is expect to test at 9750 - 9800 around and once this higher trend line is crossed then will give a breakout. Expected target after the breakout above the level of 9800 will be the difference of the height of the triangle i.e. wave A which comes to 2100 points from breakout. Calculating the target from breakout point of 9800 comes to 11900* on higher side in Medium to long term. Minor correction can be expected on the upside rally.

Base Metal : Copper Update Symmetrical Triangle Formation

Copper CMP is 8735, is showing sign of forming Symmetrical Triangle Pattern and is reverting from the rising trend line after testing the same at 8700. If this rising trend ling is holding then will enter in wave E which will rise to test the higher falling trend line, which is expect to test at 9750 - 9800 around and once this higher trend line is crossed then will give a breakout. Expected target after the breakout above the level of 9800 will be the difference of the height of the triangle i.e. wave A which comes to 2100 points from breakout. Calculating the target from breakout point of 9800 comes to 11900* on higher side in Medium to long term. Minor correction can be expected on the upside rally.

Nifty Long Term View 17th Aug 2011

Nifty after testing the level of 2951 has been moving upside and has tested the high of 6343 which was near to the all time high of the market. after testing the level of 6343 it has move downside with the lower top and lower bottom formation which has also formed Bullish Pennant. Recently it has tested the lower falling trend line at 4975 which was just below 5000 psychological level, closing was above 5000 there after. IF the lower falling trend line is holding on closing basis then its expected to move in wave E which will move to test the higher falling trend line. It may test the resistance level of 5500 - 5550 area where some resistance can be faced.

Crossover of the resistance level will confirm the breakout. In immediate term i am looking Nifty to test 5550 level from current level of 5060, where the support of 4950 is advise on lower side.

Comment : Buying Nifty @ 5060 with target of 5200 - 5380 - 5550 where the stop of 4950 advise on closing basis.

Energy update Crude 16th Aug 2011

Comex Crude Sell @ 87.3$ - 87.5$ Stop @ 88$ Target of 86.5 - 85.5

MCX

8/16/2011 10:37 Captain Aug Crude Sell @ 3945 Stop Loss 3970 TGT 3920 3890 3850 CMP 3945

Bullion Update 16th Aug 2011

Comex Gold Sell @ 1765 Stop @ 1770 Target @ 1755 - 1740

Comex Silver Sell @ 39.68 Stop @ 69.8 Target @ 39.5 - 39.3 - 39.1


8/16/2011 10:08 Captain Oct Gold Sell @ 25900 Stop Loss 25930 TGT 29870 25840 25810 CMP 25900 -
8/16/2011 10:08 Captain Sep Silver Sell @ 59450 Stop Loss 59700 TGT 59200 58900 58600 CMP 59450 -