Sell Copper @176 S/l 178 tgt - 171 - 166
Friday, November 21, 2008
Tuesday, November 11, 2008
S&P Nifty (2938.65 points) (-209.60 pts)
As envisaged, the rise got truncated near the crucial resistance of
3160 points. From the opening, the Bears dominated the day
knocking off 229 points (6%) at last trade. With Heavy weights
slipping, all the Sectoral Indices closed deep in the red. The A/D
ratio was highly negative and the volumes remained almost the
same.
We are seeing an “engulfing bearish” pattern (though not classical)
on the Nifty. The Bears again hit back in the right area (3130-
3160). The downswing gained further momentum when the 3085
points was broken decisively. Unless 3255 points is not crossed
preferably in closing, upside is capped. Again the Nifty is near the
38.2% retracement (2863) of the rise from 2252-3240 points. A close
below it for a couple of days may once again see a lower top lower
bottom with support at 2790-2750 points area.
Intraday, pivot at 2945 points needs to be sustained for any
recovery. Resistance is at 3025, 3084 and 3130 points while crucial
support in declines is at 2848 and 2790 points. The Nifty has given
an alarm after breaking 3000 points. The Bulls have to gear up
quickly otherwise the Bear haunt continues.
NIFTY Intra Week
Volatility 508 pts
S1 2686.75
S2 2451.80
R1 3120.40
R2 3357.15
3160 points. From the opening, the Bears dominated the day
knocking off 229 points (6%) at last trade. With Heavy weights
slipping, all the Sectoral Indices closed deep in the red. The A/D
ratio was highly negative and the volumes remained almost the
same.
We are seeing an “engulfing bearish” pattern (though not classical)
on the Nifty. The Bears again hit back in the right area (3130-
3160). The downswing gained further momentum when the 3085
points was broken decisively. Unless 3255 points is not crossed
preferably in closing, upside is capped. Again the Nifty is near the
38.2% retracement (2863) of the rise from 2252-3240 points. A close
below it for a couple of days may once again see a lower top lower
bottom with support at 2790-2750 points area.
Intraday, pivot at 2945 points needs to be sustained for any
recovery. Resistance is at 3025, 3084 and 3130 points while crucial
support in declines is at 2848 and 2790 points. The Nifty has given
an alarm after breaking 3000 points. The Bulls have to gear up
quickly otherwise the Bear haunt continues.
NIFTY Intra Week
Volatility 508 pts
S1 2686.75
S2 2451.80
R1 3120.40
R2 3357.15
Commodities Call........!
SELL GOLD AT 11600 AND 11650 SL 11710 TGT 11420 11320.............!
SELL COPPER AT 184 - 185 SL 190 TGT 175 ...........!
SELL COPPER AT 184 - 185 SL 190 TGT 175 ...........!
Friday, November 7, 2008
AGRI COMMODITY NEWS
AGRI COMMODITY NEWS
· No case for hike in customs duty on veg oil (BL)
· Spot rubber declines on buyer resistance (BL)
· Pepper futures move up on buying support (BL)
· Tea imports up at 12.68 mkg during Jan-Aug (BL)
· Rise in most crops’ rabi acreage (BL)
· 11 lakh t soyameal contracted for exports (BL)
· Malaysian Palm Oil Stocks may exceed 2 mt (BL)
· Falling global prices may help cut fertiliser subsidy bill (BL)
· Bollgard cotton brings higher yield, incomes (BS)
· Comexe's turnover up 23% in October (BS)
· E-auction of tea is around the corner (ET)
· Rupee falls to 47.94 in early trade (FE)
· Low stocks at storage facilities set to increase demand for red chillies (FE)
· Rice may again climb on low stocks: report (FE)
AA : The Asian Age
BL : Business Line
BS : Business Standard
CM : Capital Market
ET : The Economic Times
FE : Financial Express
HT : The Hindustan Times
IE : The Indian Express
RS : Rashtriya Sahara
TOI : Times of India
· No case for hike in customs duty on veg oil (BL)
· Spot rubber declines on buyer resistance (BL)
· Pepper futures move up on buying support (BL)
· Tea imports up at 12.68 mkg during Jan-Aug (BL)
· Rise in most crops’ rabi acreage (BL)
· 11 lakh t soyameal contracted for exports (BL)
· Malaysian Palm Oil Stocks may exceed 2 mt (BL)
· Falling global prices may help cut fertiliser subsidy bill (BL)
· Bollgard cotton brings higher yield, incomes (BS)
· Comexe's turnover up 23% in October (BS)
· E-auction of tea is around the corner (ET)
· Rupee falls to 47.94 in early trade (FE)
· Low stocks at storage facilities set to increase demand for red chillies (FE)
· Rice may again climb on low stocks: report (FE)
AA : The Asian Age
BL : Business Line
BS : Business Standard
CM : Capital Market
ET : The Economic Times
FE : Financial Express
HT : The Hindustan Times
IE : The Indian Express
RS : Rashtriya Sahara
TOI : Times of India
