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 -

Tata Moters Positional call for 8 months target 1985

TATA MOTERS is forming a Bull Flag pattern Formation, where its at the lower end of the channel. it has completed the D wave and is showing a sign of entering in wave E and its expected to give a breakout above 1280 confirmation of the uptrend to continue. Stochastic are also trading in over sold zone and is giving a positive intersection where some bounce is expected. immediate resistance at 1130 and 1280, once both the resistance is crossed sharp upsdei move can be expected.
Difference of the Pole which started from 670 testing the level of 1375 and on crossover of 1280 will confirm the higher target.

BHEL bottom out @ 1900

Bhel is showing sign of bottom out at 1880 to 1900 level, in market 2011 also it rebounded from 1900 and prior in 2009 June July also it has made double bottom at 1900.
this indicates sharp upside rally is expected.
on higher side immediately target comes to 2000 to 2200, and sustain above 2200 will move to test 2500 in near term. CMP is 1930 can start accumulating.

Chart attached

Buy June 5800 call @ 13 stop loss not required with the target of 45 - 80 - 130
Buy June 5900 call @ 5 stop not required tgt 30 - 60 - 90

Buy July 5800 Call @ 47 stop @ 30 tgt 80 - 130 - 170

Energy Update

Crude June Sell @ 4565 stop @ 4585 tgt 4540 - 4510 - 4470

Natural Gas June Sell @ 206.7 stop @ 208 tgt 204 - 202

Bullions Update

Gold June Sell @ 22450 Stop @ 22480 tgt 22420 - 22390 - 22350

Silver July Sell @ 57500 Stop @ 57750 tgt 57200 - 56900 below 56900 sustain trading free fall till 56200

Nifty Long term chart fifth wave tgt 7780

Nifty Long term chart
Not expected to trade below 5150 and will move upside with some minor correction on the wave will test 7780