CHANA JULY : SIDEWAYS

RESISTANCE 2 : 4160
RESISTANCE 1 : 4130
SUPPORT 1 : 4065
SUPPORT 2 : 4030

JEERA JULY : SIDEWAYS

RESISTANCE 2 : 13430
RESISTANCE 1 : 13300
SUPPORT 1 : 13100
SUPPORT 2 : 12930

SOYABEAN JULY : SIDEWAYS
RESISTANCE 2 : 3475
RESISTANCE 1 : 3430
SUPPORT 1 : 3345
SUPPORT 2 : 3300

PEPPER JULY : UP

RESISTANCE 2 : 41250
RESISTANCE 1 : 40900
SUPPORT 1 : 40400
SUPPORT 2 : 40000

 

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Markets opened on a firm note but could not hold on higher levels rather lost its five day bull run and closed in red territory. Nifty Future strongly resisted near upper band of downward channel pattern on daily charts while it settled below 200 day SMA. Now, it is facing a crucial level of 5100 sustaining above which it can be again said in the strong zone and next resistance is seen around 5150. While, if nifty further weakens in its opening session then 4990-4940 is seen as support zone.


TREND: SIDEWAYS


SUPPORT : 4990 & 4940 RESISTANCE: 5100 & 5150

 

Major Market News –

Sensex snaps 5-day winning streak on S&P warning.
Shriram Transport to raise Rs 2000cr via NCD issues in FY13.
Suzlon in advanced talks to raise upto $300m refinance loan.
BPCL announces new gas discovery offshore Mozambique.
Dhampur Sugar board approves merger of JK Sugar with company.

 

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GBPINR –

GBPINR on its daily charts resisted at the trend line coming from previous highs. For the coming session, if it is able to cross the level of 86.8750 then it looks bullish above this level.

 

USDINR –

USDINR on its intraday charts has made upper consolidation at 55.9400 levels.

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GOLD AUG : UP

RESISTANCE 2 : 30000
RESISTANCE 1 : 29870
SUPPORT 1 : 29570
SUPPORT 2 : 28400

SILVER JULY. : SIDEWAYS

RESISTANCE2 : 55750
RESISTANCE1 : 55200
SUPPORT1 : 54150
SUPPORT2 : 53550

COPPER JUNE. : SIDEWAYS

RESISTANCE2 : 417
RESISTANCE1 : 414
SUPPORT1 : 408
SUPPORT2 : 406

CRUDE JUNE. : DOWN

RESISTANCE2 : 4770
RESISTANCE1 : 4700
SUPPORT1 : 4600
SUPPORT2 : 4560

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CHANA JULY : DOWN

RESISTANCE 2 : 4200
RESISTANCE 1 : 4150
SUPPORT 1 : 4090
SUPPORT 2 : 4060

JEERA JULY : SIDEWAYS

RESISTANCE 2 : 13300
RESISTANCE 1 : 13170
SUPPORT 1 : 12930
SUPPORT 2 : 12750

SOYABEAN JULY : SIDEWAYS

RESISTANCE 2 : 3430
RESISTANCE 1 : 3400
SUPPORT 1 : 3340
SUPPORT 2 : 3300

PEPPER JULY : UP

RESISTANCE 2 : 40800
RESISTANCE 1 : 40450
SUPPORT 1 : 39750
SUPPORT 2 : 39300

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EURINR –
EURINR on its hourly charts consolidated around the level of 69.1700 and is expected to break this range and hence looks bearish below this level.    

GBPINR –
GBPINR on its hourly charts has made a upper consolidation above the level of 86.0000. Thus, it looks bullish above this level.

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The rupee weakened on Friday on worsening global risk sentiment, but posted its first weekly gain against the dollar in more than two months as the local currency recovers from oversold conditions. The rupee has recovered since hitting last month a string of record lows. Widespread expectations the RBI will cut interest rates on June 18 are helping spark some hope for the faltering domestic economy, though the rupee will likely remain beholden to global risk factors in the near-term.

Major Market News –
Rupee rebounds, snaps 9-week losing run.
Euro slides as euro zone risks escalate.
Dollar rises on worries about global economy.
Sterling stumbles vs buoyant dollar, outperforms euro.
Yuan posts lowest close since Dec 2011 after rate cut.

USDINR –

USDINR is taking strong support near to 55.0000 mark. On daily charts, triangle pattern is formed and if it is able to give a breakout on higher side then it is seen bullish above the level of 56.0000. However, if it breaks the crucial support of 55.0000 then it may drag towards the next support of 54.3000 in the coming week.    

EURINR –
EURINR has taken resistance from the trend line coming from previous highs. It has moved in the range of 69.7800-69.1700 and breakout on the lower side is expected. If it breaks the level of 68.7025 then bear sentiments may drag it towards lower side and it may trade in the range of 68.0000-67.3500.

INTERNATIONAL UPDATES –

Euro Snaps Six-Week Drop As Spain May Receive Support.
Pound Strengthens As BOE Keeps Stimulus On Hold.
Spanish Bonds Rise For First Time In A Month On Bailout.

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Stock tips, Commodity tips

MCX Copper last week showed sideways movement found support of 397 below this it looks more bearish and may find next support around 386. For upward movement it have to sustain above 415 then only we expect some correction in it. As on daily chart it form a reversal pattern but not work on it, that showed more bearishness in it.
S T R A T E G Y
Better strategy in the MCX COPPER will be sell below 394, with the stop loss of 403 for the targets of 385.
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Crude Oil last week showed sideways movement found support around 4520 and resistance of 4775. Now if breaks this range bound movement then only we decide the trend for it. According to daily charts it looks weak and may break support of 4520 below this next support is seen around 4420. Above 4775 next hurdle is around 4860.
S T R A T E G Y
Better strategy in MCX CRUDEOIL is to sell below 4520 for the targets of 4425-4300. With stop loss of 4700.
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MCX SILVER last week gave breakout of triangle pattern on upper side but unable to sustain on higher levels and found support of 53500 on lower side. Now 54800 is act as immediate resistance for it only above this we expect some bullish movements in it. On daily chart silver forms a upward channel pattern where 53300 is act as support for it below this next support is seen around 52800.
S T R A T E G Y
Better strategy in the MCX SILVER at this point of time is to buy above 55000. For the target of 56500-57000, with stop loss of 53500.
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