SATCO CAPITAL MARKET LTD. Technical Desk Daily Market Update.
Nse Index Markets are expected to be range bound in near term with high volatility. Best trading strategy would be sell near resistance and buy near support until it gives a clear trend. Intraday Resistance : 4886 / 4901 / 4926 / 4967 Intraday Support : 4835 / 4820 / 4795 / 4755
Bank Nifty Index Range bound on charts ; expect index to be volatile… Intraday Resistance : 9332 / 9372 / 9435 / 9538 Intraday Support : 9205 / 9166 / 9102 / 9000
GOLD Gold is very close to its stiff resistance levels (29293) as near term trend is down best trading strategy would be sell at CMP with a strict stoploss of 29293. Intraday Resistance : 29178 / 29231 / 29293 / 29314 Intraday Support : 29006 / 28953 / 28870 / 28830
SILVER Near term trend is down; therefore strategy still remains the same. Best trading Strategy: Sell on rise…. Intraday Resistance : 54686 / 54868 / 55155 / 55338 Intraday Support : 54098 / 53916 / 53630 / 53190
CRUDE OIL - COMMODITY Trend is down on charts; expect a technical bounce in near term whereas strong support is expected at 4920 & strong resistance is at 5224. Trading Strategy: Buy at dips… Intraday Resistance : 5146 / 5154 / 5166 / 5187 Intraday Support : 5120 / 5112 / 5100 / 5080
USD/INR Trend is up on charts, however slightly over bought on charts, expect a technical correction… Intraday Resistance : 55.58 / 55.70 / 55.89 / 56.20 Intraday Support : 55.20 / 55.08 / 54.89 / 54.58
S&P 500 - AMERICA As expected a technical bounce in near term has been patterned on charts. Best trading strategy would still be buy at dips with a strict stoploss of 1290 as per closing basis…
Monday – Friday Trading Strategy. Sr No. Symbol Action CMP Target Stoploss 1 INDUSIN BANK BUY 305 314 298 2 ABAN 367 378 360 3 OFSS SELL 2397 2326 2430 4 IGL 205 198 208 5 JSWSTEEL 599 618 584
Mon-Fri status M2M Sr No Symbol Action Entry Point CMP P&L Status 1. INDUSIN BANK BUY 305 +9 TARGET ACHIEVED 2. ABAN 367 +11 3. OFSS SELL 2397 2418 - 21 4. IGL 205 206.45 -1.45 5. JSWSTEEL 599 +19