iCharts Discussions

shashangan · Posted: Fri May 31, 2013 9:04 am Post subject:

Tuks,

It may take a pause around 1423. But Just hold on. The trend is not very clear at the moment. Possibly it's up for few more days.

This is again another attempt by lot of players to pull it up for the month end like last month, to close above the immediate resistance 1432 to give it a pull back effect. So leave today. It can be a little volatile.

Mkt should settle down anytime next week & then probably you should get the level to short.

Even Rupee has been weakening badly. It doesn't look like taking a turn for atleast 2-3 months. Min target is 58.60 - 58.70 region. In any case, Rupee possibly also should give a short term correction by next week .

Thanks
Gautham Shashangan

tuks87 · White Belt Joined: 02 Sep 2011 Posts: 13

Yes. I also feel the same. I feel it could retest 1440-1450 $ levels and mcx arnd 28000-28500 and then give one way fall and make a new low.

Rupee depriciation is threat to equity markets as of now since it had a good run frm 5550-6230. I am expecting rupee to make new high of 60-61 rs. and market to atleast correct to 5800-5900.

shashangan · Posted: Fri May 31, 2013 1:35 pm Post subject:

Yes posible tuks,

Usd against Rupee can try 56.40 immediately for now. Let's see where it closes for today.

Next week will give some clear picture for Gold.

Thanks
Gautham Shashangan

shashangan · Posted: Mon Jun 03, 2013 11:06 pm Post subject:

Gold spot may top out between 1424-1430 $ region. You should get 1379 back again as minimum by Friday.

If there is an extension it may try 1440 doubtful to me though.

A move above 1445 $ will slow down the bearishness for sometime.

Rupee looks terrible technically. Anyway I am not very sure, it's due for a correction, but you can expect a correction from around 57.10 if it extends. Overall this move will target around 58.65 I think.

Commodity trading is one of the most dangerous mkt. Play bare minimum, play with patience. Keep 1:5 margin (Trade 1 lot with 5 lot margin buffer) if you want to consistently see your commodity portfolio grow.

Good luck & Happy trading
Gautham Shashangan

tuks87 · White Belt Joined: 02 Sep 2011 Posts: 13

I also feel the same that gold should come below 1400$ amid the bearishness around it. However there are rounds of punthers in the circle with news that gold on mcx would try and hit 28000- 28200 rs on mcx to maintain its parity with comex.

Overall trend is bearish and levels can be hit with remarkable speed to lower lows of around 25000rs. But rupee can play the spoil sport in maintaning the prices if it remains above 56 levels.

As u said sir ITS A DANGEROUS MARKET...

mohitshukla2021 · White Belt Joined: 14 Feb 2012 Posts: 275

Shashangan,

Long time no update on Gold ...it has been quite in International market but in India..it is very strong due to Rupee devaluation .....any near term view Gold !!

shashangan · Posted: Tue Jun 18, 2013 7:32 pm Post subject:

Hey Mohit,

My Gold view remains same. It's closed weak last month too. So if it closes lower again, it's start of the bigger cycle for 1170 overall target which I had mentioned long back.

For now Gold spot is again turning weak. In $ terms it can test 1329 below in coming days followed by 1270 around.

The overall target for Rupee is 63.30 from where mkt will top out & reverse for a pull back

I can be wrong though. Do your own analysis.

Thanks
Gautham Shashangan

mohitshukla2021 · White Belt Joined: 14 Feb 2012 Posts: 275

And Gold is racing towards your target 2guns

shashangan · Posted: Fri Jun 21, 2013 7:55 am Post subject:

Target Achieved.

Mkt still looks weak. I think 1294.40 $ spot could be the level Shorts will again start selling. Expect 1265 - 1262.60 by afternoon possibly, before some intra day consolidation.

Thanks
Gautham Shashangan

http://www.icharts.in/forum/download,id,15313.html (Posted on 25th April - My chart Projection before the Mkt broke)

shashangan · Posted: Fri Jun 21, 2013 12:54 pm Post subject:

Enter short when Gold spot hits between 1304.90 - 1307 $. It may top out around here for min 1265 by late evening.

If it crosses 1333 close it.

Good luck
Gautham Shashangan

info · White Belt Joined: 16 Jul 2011 Posts: 58

can anyone help me out on silver ?

shashangan · Posted: Sun Jun 23, 2013 9:21 pm Post subject:

Silver looks overall bearish for at least 2-3 months.

There could be a correction to 22.10 & max 23.40 around. Sell on every rise & patiently hold with minimum lots. Dont average.

Medium term target for Silver spot is $15.30 & below.

Thanks
Gautham Shashangan

info · White Belt Joined: 16 Jul 2011 Posts: 58

thank you very much.

shashangan · Posted: Mon Aug 26, 2013 7:51 pm Post subject:

You can possibly sell Gold between 1404-07$ area.

1411-13 area can be an extension Target.

Above 1419 Caution. A surge through 1424 will target 1444.

Min Lower Target can be 1375-73 followed by 1364 & 1348-46 area.

Regards,
Gautham Shashangan

shashangan · Posted: Thu Oct 10, 2013 7:04 pm Post subject:

Strictly Intra day -

Long between 1295-93 (Spot) with tight stop 1286 or safe stop 1281

Min Target 1306, followed by 1309, 1313 area. Spot CMP 1295.50 $.

I feel Mkt will be in between 1291-1316 range till tomorrow

Regards,
Gautham Shashangan