US Markets are closed for Labour Day and there was no significant economic news coming in on the wires. Markets across the world including India were buoyant considering positive jobs data during the non farm payrolls and indications that US would avoid any chances of a double dip recession. Further President Obama indicated efforts towards the middle class and supporting the small and medium businesses.
Coming to the Indian markets things are positive and the Nifty closed 5577 for the day. Well in line with my previous targets 5541 has been broken and we are headed for 5600. I would consider the following levels in mind - 5547- 5567 - 5577 - 5595 - 5607
Any rally above these levels would lead to 5628 and 5645.
Stay green till then !
Monday, September 6, 2010
Wednesday, September 1, 2010
Brent Crude Oil Levels & Targets
So we are back to green, economic data's green again..hopes for recovery and avoiding a double dip recession from this picture. Today's jobless claim's will give further direction or take oil back to the hole. 76.10 is a strong support to watch for today.
On a bull run can expect oil to increase by a dollar upto 77.10 and further more during the day. Mean while short term targets should be 76.58 and 76.83. On the flip side below 76.10 can take it down to 75.50. Further you could refer my blog from yesterday here.
Rushing back to trade...
Till then..tc.
On a bull run can expect oil to increase by a dollar upto 77.10 and further more during the day. Mean while short term targets should be 76.58 and 76.83. On the flip side below 76.10 can take it down to 75.50. Further you could refer my blog from yesterday here.
Rushing back to trade...
Till then..tc.
SnP CNX Nifty Price Targets (Indian Stock Markets)
The Indian Stock market has been on a run, buoyed with confidence and strong economic sentiment. Today was a strong rally supported by commodity and metal stocks, oil stocks too have been booming for now. Dollar took a beating to Euro though a weaker Rupee seems to be a strong reason for incoming flows.
Coming to levels 5467 is a strong support on the bull run further. For today 5488 was an expected top target on the Nifty and achieved positively. If the bull run continues tomorrow or this week, 5503-5513-5531 and 5541 will be the next highs in minds. Our bulls will have to gear up, though part of it depends on the incoming news this evening from the US markets. 5455 and 5450 need to kept in mind for a further downside move.
The RSI though quotes at 86.41 indicating bears may have to come in to rationalize the pricing. The rid may start to get a bit rougher in the days ahead.
Till then happy trading ..!
Disclaimer - These views are personal and may not be considered as assured targets or levels. Do not hold me responsible for any losses. In case of profits a small thank you or appreciation would be highly appreciated.
Coming to levels 5467 is a strong support on the bull run further. For today 5488 was an expected top target on the Nifty and achieved positively. If the bull run continues tomorrow or this week, 5503-5513-5531 and 5541 will be the next highs in minds. Our bulls will have to gear up, though part of it depends on the incoming news this evening from the US markets. 5455 and 5450 need to kept in mind for a further downside move.
The RSI though quotes at 86.41 indicating bears may have to come in to rationalize the pricing. The rid may start to get a bit rougher in the days ahead.
Till then happy trading ..!
Disclaimer - These views are personal and may not be considered as assured targets or levels. Do not hold me responsible for any losses. In case of profits a small thank you or appreciation would be highly appreciated.
Crude Oil - Brent Futures Daily Level
Current Price Target Levels for Brent are quite interesting..oil took a hit yesterday and crashed quite a bit. On a daily chart level has come back to its bottom again interms of retracement. Mass consensus would have been to rally oil further upwards. For now has retraced back in a double bottom mode since last evening.
Brent hit a high of $76.74 and came crashing. For now it reads $75.48. If things are in favour you may consider the following levels upwards today - 75.52 - 75.74-75.86- 76.10.
On the flip side these are the expected levels 75.39-74.72-74.45. Keep in mind +/- 10 ticks as the squeezes and wics.
Meanwhile Construction, Manufacturing and Vehicle Sales will play a major role in deciding the roller coaster rides been experienced since last week. Though Consumer Confidence data yesterday was a bit of a booster but something kept oil hanging for long.
Happy Trading till then !
Disclaimer - These views are personal and may not be considered as assured targets or levels. Do not hold me responsible for any losses. In case of profits a small thank you or appreciation would be highly appreciated.
Brent hit a high of $76.74 and came crashing. For now it reads $75.48. If things are in favour you may consider the following levels upwards today - 75.52 - 75.74-75.86- 76.10.
On the flip side these are the expected levels 75.39-74.72-74.45. Keep in mind +/- 10 ticks as the squeezes and wics.
Meanwhile Construction, Manufacturing and Vehicle Sales will play a major role in deciding the roller coaster rides been experienced since last week. Though Consumer Confidence data yesterday was a bit of a booster but something kept oil hanging for long.
Happy Trading till then !
Disclaimer - These views are personal and may not be considered as assured targets or levels. Do not hold me responsible for any losses. In case of profits a small thank you or appreciation would be highly appreciated.
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