Thursday, August 19, 2010

MCX COPPER TECHNICAL OUTLOOK

Date: 19 August 2010

MCX COPPER TECHNICAL OUTLOOK

TECHNICAL OVERVIEW:
Looking at the daily chart the counter has given short-term continuation bullish flag break above resistance of 347.00 signals that the previous advance has resumed. We expect bull trend to follow in MCX Copper in the near term.

COPPER DAILY CHART:



Observations:

After a 12 days consolidation in a sideways to down flag formation (small rectangle pattern that slopes against the previous trend), MCX Copper breached the resistance of 347.00.

• The RSI (14/9) is trading above 60 and has potential to move up further, with support by the trend line. Stochastic Oscillator too has given a positive cross over which is likely to support the upside momentum.

• Last but not the least; Directional Index too has given rising distance in +DI and -DI, indicating the positive momentum in the prices.


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POSITIONAL CALL (14-28 Days) : BUY COPPER MCX 345-347 ZONE FOR THE TARGET 1 359.00 & TARGET2 365.00 WITH SL OF 338, CMP 346.50

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Report By: Pradeep Karnani
Research Analyst

Mobile: 09966028055

***************************************************************
FOR PRIVATE CIRCULATION ONLY
DISCLAIMER: Stock & Commodity trading is a high-risk movement. The above recommendations are based on Technical Analysis. Any major fundamental news or market sentiment can make these levels irrelevant or unsuccessful. The targets and time frame for the same mentioned above are indicative and may vary depending upon the market situation. Receivers are urged to exercise their own judgment in trading. Any action you choose to take in the markets is totally your own responsibility. We (TRUE INFOTEC) will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the commodities mentioned herein the writers may or may not be trading in the securities mentioned.

TRUE INFOTEC: 101, VICTORY SATYANARAYANA, OLD BOWNPALLI, HYDERABAD-500011
TEL: 040-40271150, 9966028055 EMAIL:
info@trueinfotec.in http://www.trueinfotec.in/

S & p NIFTY TECHNICAL OUTLOOK TGT 2nd Achived

Date: 19 August 2010

S & P NIFTY TECHNICAL OUTLOOK TGT 2nd Achived

TECHNICAL OVERVIEW:

POSITIONAL CALL: S & P NIFTY BUY 5325-5345 ZONE FOR THE TARGET 1 5421 AND TARGET2 5515 WITH SL OF 5250, CMP 5351.00 (09 JULY 2010)


TRUE INFOTEC: OUR TECHNICAL BUY CALL OF S & P NIFTY ON 09 JULY 10, TARGET 2nd 5515.00 ACHIVED CMP 5520.20 (19 AUG10)


S & P NIFTY DAILY CHART:


For full report please visit: http://trueinfotec.blogspot.com

-------------------------------------------------------------------------------------
Report By: Pradeep Karnani
Research Analyst

Mobile: 09966028055
-------------------------------------------------------------------------------------
FOR PRIVATE CIRCULATION ONLY
DISCLAIMER:
Stock & Commodity trading is a high-risk movement. The above recommendations are based on Technical Analysis. Any major fundamental news or market sentiment can make these levels irrelevant or unsuccessful. The targets and time frame for the same mentioned above are indicative and may vary depending upon the market situation. Receivers are urged to exercise their own judgment in trading. Any action you choose to take in the markets is totally your own responsibility. We (TRUE INFOTEC) will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. This information is neither an offer to sell nor solicitation to buy any of the commodities mentioned herein the writers may or may not be trading in the securities mentioned.

TRUE INFOTEC: 101, VICTORY SATYANARAYANA, OLD BOWNPALLI, HYDERABAD-500011
TEL: 040-40271150, 9966028055 EMAIL: info@trueinfotec.in
www.trueinfotec.in