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Commodity’s Trend

GOLD APR : UP

RESISTANCE 2 :28800

RESISTANCE 1 :28550

SUPPORT 1 :28250…………..click here

Nifty Trend

Markets opened the week on a neutral note and showed positive sentiments in the afternoon session after euro area finance ministers agreeing on Greece bailout package. Nifty future was able to close above the crucial mark of 5600 with good volumes. Now, if it maintains above 5600 then 5700 can act as hurdle for it where profit booking is expected. If global factors do not support then weakness may occur below 5550 below which 5500 will hold it and act as support.

TREND: UP

SUPPORT : 5565 & 5500………click here

Commodity’s Trend

GOLD APR : SIDEWAYS

RESISTANCE 2 :28450

RESISTANCE 1 :28270

SUPPORT 1 :28000

SUPPORT 2 :27850

SILVER MAR. : SIDEWAYS

RESISTANCE2 :58400

RESISTANCE1 :57000

SUPPORT1 :55500………..click here

USD/INR

On weekly charts, USDINR took support around 49.7825 last week. If pull back happens then 49.9425 will act as resistance in the coming sessions surpassing which 50.3875 will act as strong resistance for it. Below 49.7825 more weakness is expected to observe in dollar.

EUR/INR

On weekly charts, strong support is seen at 63.85. In the coming sessions 64.5925 can be an immediate support for it. If it is able to maintain above this level then 66.1750 will act as strong resistance in the coming sessions.

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Currency Trend

The Indian rupee ended flat on Friday as gains from foreign fund inflows were negated by strong demand for dollars from oil importers. Importers and oil companies are likely to step up dollar buying. Oil is India’s largest import item and oil refiners are the largest buyers of dollars in the local market. On Friday, oil steadied near $120, for a long-awaited Greek bailout deal and tension between OPEC producer Iran and the West. Traders ruled out near-term sharp volatility in the rupee, and said the unit is likely to remain largely range bound with some upward bias.

Major Currency news:

• Realty, power, auto and banking remained the lead performers.
• Rupee ends flat at 49.27; seen range bound in short term.
• Rupee off highs on oil importer demand………..click here

MCX GOLD, last week traded sideways and faced strong resistance at 28300. On daily charts gold forms a triangle pattern it found strong supports on lower band of triangle. If it break 27950 with supporting volumes than it may find next support around 27700. On upper side above 28400……click here

US crude oil futures have climbed to near five week high at $102.51 per barrel on Wednesday trading on reports that Iran halted shipments to Europe and US inventory declined for the first time in four weeks, data from US Energy Information Administration showed. Crude oil prices have gained 20% in the past year and Bahrain Energy Minister has pointed out that $100 is a remunerative price for oil producing nations. “The high range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. Closes above the reaction high crossing…….click here

Gold prices rose on Friday as optimism that Greece may soon secure an urgently needed bailout buoyed financial markets and helped bullion recover from a one-week low hit in the previous session. Gold, on course for a weekly rise of 0.8 percent, has moved in the range between $1,700 and $1,760 since the beginning of the month, closely tracking the progress and setbacks in Greece’s struggle to obtain a 130-billion euro bailout. Hopes that Greece ………click here

Nifty Weekly

Nifty future rallied last week gaining 3.5% on strong global cues and foreign inflows. After a proper breakout from channel on weekly charts 5700 is now seen as crucial level for it in the coming sessions. If it sustains above this then we expect bullishness to continue till 5800. Any slippage below 5500 can ………click here

Nifty Trend

Markets opened on a positive note where nifty future traded above 5600 in first half of the session where 5620 acted as resistance for it. After opening of European markets nifty slipped below 5600 where it got support around 5560. In this week, 5700 is seen as important level surpassing which this bull rally may reach new highs. It may face resistance in the range of 5630-5700 in intraday sessions while closing below 5550 can be considered a weak signal.

TREND: UP

SUPPORT: 5550 & 5480  ……….Click here