Daily
Forecast 8 April 2014
Please note that below forecast is based on the closing basis and technical indicators at that time. Market situations may change depending on what level it opens. You are advised to consult your financial adviser or us before taking any positions.
Gold
On 4 Hr chart Gold is looking positive and it may
continue bounce back till 28478, 28530. On daily chart gold is near its
resistance. And can give retracement anywhere between 28478 to 28790 which is
next major resistance.
Weekly chart is still suggesting Keep buying on
every dips above 28700 for the target 29000 and then 29600 with SL 28700.
Tomorrow morning watchout for breakout above 28478 for TGT 28530 and may be 28790 which is
previous high. This can be selling opportunity for retracement till 28400,
28150, 28050 with SL 28850.
Breakout above 28790 can lead gold to new high
neat 29000, 29600.
So please take precautions while selling gold at
28790.
Tomorrow morning buy Gold With SL 28242 TGT
28472, 28530, 28790.
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Silver
Overall for the week Silver will continue its technical
bounce back. Abover 42400 keep buy on dips strategy for TGT 44800, 45000, 45500…Below
46000 keep sell on rise strategy and watch out for a breakout below 42400 level
for TGT 41300 and more down level.
For tomorrow Buying SL 42400 for TGT 43400,
44500, 45500.
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Copper
Copper has next strong resistance at 410 level.
Below 411 Keep sell on rise view for TGT 394, 392. 390 is strong support. Keep
buy on dips view above 390.
For tomorrow watchout for break out above 410 breakout
at 410 may lead towards 414 and then 422.50.
For tomorrow keep buy on dips strategy above 399
with SL 399 for TGT 410, 414, 422.
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Aluminium
Aluminium may continue bounce back. It has taken
support at 107.80 levels
Tomorrow morning Keep buy on dips strategy above
107.80 level with SL 108 for TGT 109.60. Break out above 110.35 can take metal
to new high.
We may see selling opportunity at 110.10 SL
110.50 TGT 109, 108, 106.20
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Lead
Lead may continue its bounce back till
125.20-125.60 levels. At 125.60 which is next resistance, can be selling
opportunity for with SL above 126 for TGT 124.20, 122.10.
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Zinc
Above 118 keep buy on dips view. Zinc can
continue rally till 121.90, 123.50 levels.
Buy near 120 with SL 118 for TGT 121.90, 123.50.
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Nickel
Above 976 keep buy on dips view. Nickel can continue
rally till 1017, 1030 levels.
Buy near 980 with SL 975 for TGT 1017, 1030.
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Crude
Crude below 6130 is weak. Sell on rise with SL
6150 for the TGT 5980. Watchout for
breakout below 6040,
Tomorrow sell between 6060 – 6092 SL 6130 TGT 6040,
5981.
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Natural Gas
NG can technically bounce back till 281, 286, 294
levels. Below 294 NG weak.
For tomorrow week buy on dips view above 265 with
SL 263 for TGT 281, 286, 294.
Sell at 281, 286, 294 SL 296 TGT 253 and breakout
below 253 on a weekly closing basis will take it to 250.20, 248 and below levels…
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