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Friday, August 31, 2012

Daily Update(31/8/12)

Today's Scenario:

Looks poised for another up thrust followed by the resumption of the bear trend ,this move should find resistance in the 31-66-31.88 zone if that is breached(lower possibility) we ll report the targets right here. Must find support in the 30-26.29.86 range. Bernanke speech at Jackson Hole today,volatility would rise.Remain CAUTIOUS.
Happy Trading

Monday, August 27, 2012

Daily Update(27/8/12)

Today's Scenario:

Right after the breach of 30.90 prices reached 31.24 and retraced back down.There hasn't been a healthy pullback yet but it should occur sometime this week,maybe on Wednesday or by the end of the week.This bounce must find resistance in the 31.46-31.80.Initial support at 30.46-30.21 and then the 27.76-27.24 zone.
Happy Trading.

Friday, August 24, 2012

Daily Update(24/8/12)

Today's Scenario:

The market bounced just as expected and reached our weekly target zone around 30.46 ending finally at 30.824.Any pullback (which should happen now),would find support within the 29.76-29.24 zone.While on the contrary a breach of 30.96 would result in 31.46-31.80.

Note:The indicators are extremely overbought on multiple time frames signalling a PULLBACK.This does not mean the bounce is over there is more to come till the breakout zone 28.50-28.26 holds.
Happy Trading

Wednesday, August 22, 2012

Daily Update(22/8/12)

Today's Scenario:


With the prices reaching our aforementioned target now it looks ripe for a pullback until 29.70 is breached.The target for the pullback would be 29.16-28.85-28.64.For the bounce to remain healthy and test the 29.86-30.46 zone 27.95-27.54 must hold.
Happy Trading.

Tuesday, August 21, 2012

Daily Update(21/8/12)

Today's Scenario:


The bounce came strong and reached our target zone of  28.72-28.92.Now it could reach 29.31-29.67-29.84,while a break of 27.54 would signal the end of the bounce and resumption of bear trend.Support at 28.58-28.37.
Happy Trading.

Monday, August 20, 2012

MRDXTPEPE25M 

Weekly Update(20/8/12-24/8/12)

Weekly Scenario:


The intermediate term is still down,but bounce potential does exist.The targets for the bounce remain at 29.46-29.89-30.46.Any daily closing below the 27.24-26.97 zone would result in a drop to 25.76-25.32-24.76 cluster zone.
Have a great trading week ahead.

Daily Update(20/8/12)

Today's Scenario:

The bounce is not over yet and must continue until the 27.24-26.97 level holds.Targets for the bounce remain at 28.32-28.48 and then 28.72-28.92.Support at 27.94-27.85.
Happy trading.

Wednesday, August 15, 2012

Daily Update(15/8/12)

Today's Scenario:

As expected the odds reside with the bulls.The market bounced nicely from the mentioned support zone at 27.63-27.45. 26.95-26.80 is an important zone to be held.Support lies at 27.63-27.45-27.24.Initial targets for the bounce reside at 28.32-28.52.
Happy trading.

Tuesday, August 14, 2012

Daily Update(14/8/12)

Today's Scenario:
Sorry guys for no updates since past few days as I was on a trip.As expected the bounce continued to find resistance in the 28.32-28.52 zone.26.95-26.80 is an important zone to be held for the bounce to continue and target higher levels at 28.72-28.92 and further more bullish potential exists.While on the contrary,a break would result in 25.32-24.62 zone .Support for the day lies at 27.63-27.45.
Happy Trading.

Thursday, August 9, 2012

Daily Update(9/8/12)

Today's Scenario:
We are at an important short term price juncture,on any close below the 26.90-26.60 zone,any further bounce attempts would nullify and then target the 25.32-24.62 price zone.Bounce is still intact until the aforementioned price level holds.Resistance for the bounce could be found at 28.32-28.52 and then 28.72-28.92 zone.Any retrace must find support at 27.63-27.45.
Happy Trading.

Wednesday, August 8, 2012

Daily Update(8/8/12)

Today's Scenario:
As expected the bounce ended right in the 27.91-28.26 zone(high registered was 28.235).Now it looks like any retrace must find support in the 27.59-27.44 zone.Overall bounce is still intact until the 26.85-26.60 zone holds.Resistance at 28.30 and finally 28.72-28.92 zone.
Happy trading.

Monday, August 6, 2012

Dow Jones Special Update

Dow's Scenario:
The price action in the coming weeks would decide how dow acts in the coming months.The DJI is at a very critical juncture,until the May 01 2012 high is broken great bearish potential exists which would lead to a fall of 1000(below june 4 low) or even 2000+ points.Resistance should be seen in the 13,256 zone.

Weekly Update(6/8/12-10/8/12)

Weekly Scenario:
The bounce is still in force and could further extend into the 29.46-29.89-30.46 zone on a breach of this zone higher possibilities exist.While on the contrary a break below the 26.60-26.30 zone (on a daily closing basis),the intermediate as well the short term trend would turn down.Weekly Support at 25.10 or even lower at 24.26-22 zone.

Daily Update(6/8/12)

Today's Scenario:
A retrace towards the 27.53-27.34 is on the cards after which it might resume the bounce and target 27.91-28.26 or even 28.50. 26.60 must be held,while on a break of which(on daily closing basis) we might resume the downtrend.
Happy Trading

Friday, August 3, 2012

Daily Update(3/8/12)

Today's Scenario:
With Mr.Bernanke showing no hints towards further easing(Operation Twist) and the ECB chairman not sounding as optimistic as he did in his previous speech,there was nothing much seen in the price action.We maintain our outlook for the bounce to be in force until unless we have a daily close below 26.60.Support lies at 26.80.This bounce should retest 28.07-28.35 zone.
Happy Trading.

Thursday, August 2, 2012

Daily Update(2/08/12)

Today's Scenario:
The bounce should be considered to be in force until the 26.60 level remains intact.Support at 26.80.We should target the 28.48 zone again and then 29.45 zone.Resistance at 27.85-28.07.
Have a great trading day ahead.