View on Gold for this winter!

Daily Gold Chart

Since September 2011 gold has been in a down trend from 1921$/Ounce to 1523$/Ounce. Since then it has been in a sideways correction phase for the last two months. Our view is to sell gold around 1750$ to 1774$ and we expect final panic rally targeting up to 1600$.


On the other side if gold breaks above 1805$, we expect an upside rally targeting up to 1840$ and 1921$.

We maintain our long term trend as Bullish targeting 2350$ as long as areas of 1520$ is protected.

Sell Exide Industries!

Exide Industries Ltd Weekly Chart

Exide Industries Ltd Screener

The stock was in an uptrend since April’ 09 until November’ 10. Since November’ 10 it has formed a double top around 180 & double bottom around 110 levels. Hence, we recommend short selling on a downside break of 108.  

Support	91	80	71	61	47.5
Resistance	117	121	130	140	150
Recommendation	Based on the chart & explanation above, we recommend selling in Exide industries below 108 and take profit at various levels (93, 70.5 & 57). Maintain a stop loss above 130 to protect losses.

If you have any queries, we are just a phone call away.

Best regards,

Dreamz Consultancy

+ 91 98845 27725

+ 91 98413 27014

dc.finserv@gmail.com

 

Bata India Update!

Bata India Weekly Chart

Bata India Screener

Support	572	520	468	401	337
Resistance	629	650	670	686	712
Recommendation	Based on the charts and explanations above, our opinion is selling Bata India around 610 to 645 and take profit in stages at 561, 519 and 471 and stop loss above 741 might be appropriate.

 

Nifty Update!

Nifty Screener

Support:      4720, 4560, 4460, 4380, 4300
Resistance:  4885, 4985, 5065, 5145, 5260

Recommendation:  Based on the charts and explanations above, our opinion selling nifty below 4720 and take profit in stages at 4560, 4380 and 4200 and stop loss with daily closing above 4980 might be appropriate.