Short term trading calls on Billions Metals and Crude

Crude MCX Sell @ 5275 stop @ 5305 target 5220 - 5150 - 5050 level soon in coming days,,,
Brent Crude Sell @ 107.8 stop @ 108.2 tgt 107 - 106 - 104

Gold Sell @ 1610 $ stop @ 1616 tgt 1600 - 1585 - 1655 level soon....
Gold MCX Sell @ 27770 Strop @ 27860 tgt 27550 - 27350 - 27100 level soon...

Copper MCX Sell @ 405 stop @ 407 tgt 395 - 385 - 370
LME Copper Sell @ 7580 Stop @ 7650 tgt 7400 - 7100 - 6800

Silver Sell @ 29.35$ stop @ 29.5 $ tgt 28.84 - 28.2$ - 27.5$
Silver MCX Sell @ 53200 Stop @ 53800 tgt 52200 - 50500 - 49000

Nifty & Rupee Overview for 23rd Dec 2011

Nifty: Nifty yesterday after the negative opening at 4671 failed to 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.


USD/INR: Rupee yesterday after the gap up opening at 52.92 failed to 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.

nifty call for the day

Rajeev: Nifty Sell @ 4762 TGT 4745 4725 4705 Stop Loss 4775 CMP 4762 12/23/2011 9:26