Nifty - Ready to break out !

Golden correction in GOLD !

Gold mini December contract daily chart @ 3.55pm.

Today Gold mini corrected heavily hitting the low of Rs.17372.00 at 1:15pm in December contract. It will be making bearish engulfing candle if it does not recover at the end of the day, or if recovers it can make a hanging man. In both case, it will be a sign of correction in strong uptrend. Can take support at 20DMA.

INDIAN OVERSEAS BANK - can give good upmove !

Buy IOB with stop loss below 113.20. If you are lucky, and does not hit the stoploss, book where ever you like as shown in the chart.

NIFTY - TODAY'S OUTLOOK.

NIFTY - SUPPORT - 4856, RES- 5024. EXIT LONGS IF TRADES BELOW 4856 FOR MORE THAN 30MIN. EXIT SHORTS IF TRADES ABOVE 5024 FOR 30MIN. PIVOT - 4940.

Indian Rupee to gain more strength against US $

Indian Rupee can strengthen against US $. ( Or US $ loosing strength world wide). If this happens, it can help bulls in Indian Stock Market. Indian Stock Markets to remain volatile?

Nifty - monthly chart with Andrew Pitchfork.

One of the possibility : Markets may go for W shaped recovery. Time will tell. I will be pleased if any learned person will share the views.

Trading Call.

On demand from some friends, I will post some trading calls as and when I find them appropriate. Do not compromise with the stop loss.

NAGARCONST

Buy in the range of 151.10 to 155.30.

Stop Loss – below 149.00.

Intra day target – 162.00.

Nifty EOD chart with fib and parallel lines.