Nifty Intraday trading call 12th oct 2011

Rajeev: Nifty Buy @ 5005 TGT 5025 5045 5065 Stop Loss 4990 CMP 5005 ##

Forex outlook for the day 11th Oct 2011

EURUSD buy @ 1.3640 stop @ 1.3600 tgt 1.3680 - 1.3710 - 1.3740

only below 1.3600 will bring to 1.3550 - 1.3510 level

GBPUSD Buy @ 1.5640 stop @ 1.5600 tgt 1.5690 - 1.5740

sustain trading below 1.5580 will hamper bullish out look

AUDUSD buy @ 0.9960 stop @ 0.9900 tgt 1.0060 - 1.0150

closing below 0.9900 will give correction till 0.9800 which is unlikely

Nifty after the September expiry which was seen at 4943 where the trading range is getting narrow within the range, where on higher side resistance is seen at 5150 and support of 4820 is seen on lower side. Today with the negative Asian market its expected gap down opening and if sustain trading is seen below 4760 will move towards the lower level of 4710 to 4640 which is immediate support. Nifty is forming Symmetrical Triangle Pattern and is expected to give down side bread out. Yesterday it traded below the trend line but closing was just above the support level of 4760. If sustain trading is seen below 4760 and 4700 level will confirm the down trend. Difference of the triangle comes to 500 points and breakdown below 4760 will bring to 4250 level immediately. Stochastic has given negative intersection need the mid zone indicating down side move in price can be expected and it may move towards the oversold zone were further round of selloff can be expected in near term.

INDIAN Market over view 5th Oct 2011

Nifty CMP is 4790 resistance @# 4840 can move and test 4755 - 4720 - 4680 level in near term.

USDINR CMP is 49.4 MCX-SX expected to test 49.8 level : RBI intervention is seen at 49.9 - 50 level .. expect to test 52 shortly till the time 48.2 holds on closing basis.

Bullion's Outlook 5th Oct 2011

Gold CMP is 1620$ :: resistance is seen at 1630 and if fails to cross the same will move to test the level of 1610 - 1602 - 1590 level on lower side.

Silver CMP is29.5$ :: Resistance is seen at 30$ and till the time its trading below the same resistance level its expected to test 29 - 28.6 - 28 $ on lower side.

we maintain bearish view on both crossover above resistance level will only hamper the bearish outlook for short term.

Nifty out look for short term

Nifty after reverting from higher level of 5170 is taking support of 4800 sustain trading below 4800 will bring to 4660 - 4500 - 4350 level on lower side.. resistance of 4950 should hold on closing basis.

GBPUSD outlook for Short term 3rd Oct 2011

GBPUSD CMP is 1.5420 : GBPUSD is expect to continue the down trend in market where on lower side immediate support is seen at 1.5300 and if sustain trading is seen below 1.5300 will bring to 1.5180 - 1.5050 level on lower side, resistance of 1.5600 is seen on closing basis. we maintain bearish outlook for short term.