Whole week the market have shown roller coaster rides & confusing the retail trader to take the right decision. You all have to admit that everything this year has been the opposite of what all the retail traders expected. In coming days also, the manipulators will try to maintain this kind of movement in markets. So you can expect some wild swings to shake out the bulls and squeeze the bears to happen before the final very sharp movement takes place. Remember, the manipulators don’t want to have to pay out any money to the option holders.....both calls and puts. Manipulators have the ability to keep markets up for as long as they want to & can crash anytime they want. They are in the driver’s seat right now, and it’s going to crash only when they are ready. Looking at the present market conditions, the intermediate term shows upside capped. We can’t say it’s going to be easy for bears, but again...anything is possible. So hang in there bears, we really don’t think we are going up too much further. Bears can njoy a party in coming month!!!!
This week, as long as the 4935 level, is not crossed bulls will take some rest & bears will attack decisively to drag down the markets. On the downside journey, support exists at 4665, and once this level is breached then expect sharp slide to 4592-4530-4410 levels. As we have told that 4840 is a resistance level, & if this level is crossed then bulls can inch higher upto 4880-4935-5014 levels, but the range 4972-5014 will be a resistance zone for short term & if markets reverts back from there, then we expect that area to stop the rally and then continue the selling. We are in a period now where the best thing to do is to book profits in long positions in resistance range (resistance zone can also be used to create fresh positional shorts) and buy again in support zone and not try to swing trade in and out of the market, as you might not get another good re-entry spot for shorts again. If we bounce any at all, then all upside above 4935-5014 is now going to be resistance, and would be another good shorting spot. Any further bull action will only come only if markets are able to consecutively close above 4935 level. Best way to trade in these kind of markets is to follow the levels strictly, instead of speculating on the basis of expiry, day closing etc etc. Just think from manipulators point of view, think of it like this, if you tank the market (when no one is expecting it), then you can rally it later, when everyone is looking for a crash to occur.....and steal the masses money of course. Those who have wisdom, can read it & take their own decision for making money & not getting fooled by the big fishes of this share market ocean.
COMMODITY ALERT
•Silver having good support at 58345 (below this we can see panic selling for 2-7%), so use all declines to buy it for medium term . On upside it has resistance at 67590, once this level is crossed & sustained then we can see it moving to 72000++ levels.
•Copper having support at 413 & resistance at 417. Decisive crossover above 417 it will fly high for targets 421-424-429+.
•Gold traders keep eyes on support range 25274, if the lower level is not breached decisively & able to cross resistance 27080 on closing basis, then we can see higher levels of 27520-27965-28280+ . For gold, positional traders can keep watch on 25274 level as a good support, break below this will favor bears for a while but medium term bullish only.
As said by us last month, we are bullish on Silver & Gold in medium term time frame. Both these commodities have shown spike rise in recent weeks & will continue to show unexpected price levels in coming months with bumpy roller coaster rides in short term.
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Stocks for the week
- Gujrat Gas Company
- Hindustan Oil Exploration
- Reliance Communication
- Shree Ganesh Jewellery
- Celestial Biolabs
- Amrutanjan Health
- Tulip telecom
- Infosys
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