Weekly Newsletter | - 01 Aug , 2020 26 Jul th st nitial ublic ffering I P O Market Outlook The Week That Was Key indices recorded weekly gains for a fifth straight week on positive global stocks. The S&P BSE Sensex closed above 38,000, while the Nifty50 settled a tad below 11,200. Reliance Industries performance boosted the benchmark indices. Global markets were buoyed by a slew of positive news on the coronavirus vaccine and fiscal stimulus fronts. In the week ended on Friday, 24 July 2020, the Sensex jumped 1,108.76 points or 3% to settle at 38,128.90. The Nifty 50 index advanced 292.45 points or 2.68% to settle at 11,194.15. The BSE Mid-Cap index rose 171.80 or 1.27% to settle at 13,702.55. The BSE Small-Cap index gained 184.02 points or 1.44% to settle at 12,966.55. Key domestic barometers ended near the day's high on Monday, 20 July 2020 extending gains for the fourth straight session. The Nifty managed to close above the psychological 11,000 mark. Encouraging Q1 earnings from index pivotals countered the impact of the surge in domestic coronavirus cases. The barometer S&P BSE Sensex rose 398.85 points or 1.08% at 37,418.99. The Nifty 50 index gained 120.50 points or 1.11% at 11,022.20. Key equity benchmarks ended with strong gains on Tuesday, 21 July 2020 rising for the fifth straight session. Global shares advanced as European Union (EU) leaders agreed on a 750 billion euros package aimed at funding post-pandemic relief efforts in the region. Hopes for a coronavirus vaccine also lifted risk appetite. The first set of results from early-stage clinical trials of the Oxford University COVID-19 vaccine candidate show the vaccine is safe and induces an immune reaction. The barometer S&P BSE Sensex jumped 511.34 points or 1.37% at 37,930.33. The Nifty 50 index rose 140.05 points or 1.27% at 11,162.25. Domestic stocks ended lower after a volatile session on Wednesday, 22 July 2020. The barometer S&P BSE Sensex lost 58.81 points or 0.16% at 37,871.52. The Nifty 50 index shed 29.65 points or 0.27% at 11,132.60. Indices ended near the day's high on Thursday, 23 July 2020. The barometer index, the S&P BSE Sensex, rose 268.95 points or 0.71% at 38,140.47. The Nifty 50 index climbed 82.85 points or 0.74% at 11,215.45. Key indices ended near the flat line on Friday, 24 July 2020. The barometer index, the S&P BSE Sensex dropped 11.57 points or 0.03% at 38,128.90. The Nifty 50 index lost 21.30 points or 0.19% at 11,194.15. Sentiment was impacted by negative global cues amid rising coronavirus cases and ongoing US-China tensions. Market regulator Securities and Exchange Board of India (Sebi) on Monday, 20 July 2020 released framework to enable verification of upfront collection of margins from clients in cash and derivatives segments. The new framework will come into effect from 1 December 2020 and will be implemented in a phased manner. From 1 September 2021, investors and traders will have to pay all the margins upfront to the broker before the trade. Currently, the rule of bringing in the entire upfront margins is only applicable to traders in derivatives. Total COVID-19 confirmed cases worldwide stood at 1,55,12,282 far with 6,33,425 deaths. India reported 4,40,135 active cases of COVID-19 infection and 30,601 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. . On global front, Japan's exports dived 26.2% in June from a year earlier. Imports fell 14.4%, compared with expectations of a 16.8% decline. China kept its benchmark lending rate steady for the third straight month on Monday. The one-year loan prime rate was kept unchanged at 3.85%, while the five-year remained at 4.65%. In the latest deterioration in Sino-U.S. ties, the United States ordered China to close its consulate in Houston, saying it was “to protect American intellectual property and Americans' private information.” China strongly condemned the move, and it was reportedly considering shutting the U.S. consulate in Wuhan in retaliation. Beijing vowed to close the US consulate in the southwestern city of Chengdu. The move comes after the US ordered the closure of a Chinese consulate in Houston, citing fraud and espionage, highlighting rising tensions between the global superpowers. Technical View Sensex Outlook (38128): Nifty Outlook (11194): Bank Nifty Outlook (22662): USDINR Outlook (74.85): EURINR Outlook (86.69): Dollar Index Outlook (94.38): During the last week Sensex has given a breakout from 37185 to 38225 and given a consolidation at higher level. Its immediate support is likely to been seen around 37750. If trades or closes below 37750 next support is likely to be seen around 37450 to 36950. Its immediate resistance is likely to be seen around 38250. If it sustain and closes above this level next resistance is likely to be seen around 38950 to 39100 for next weekk. Markets traded with a negative bias for a major part of the day as profit booking weighed in. However, the indices witnessed recovery in the closing hour of the trade. During the last week Nifty has given a breakout from 10749 to 11240 and given a consolidation at higher level. Its immediate support is likely to been seen around 11120. If trades or closes below 11120 next support is likely to be seen around 11020 to 10950. Its immediate resistance is likely to be seen around 11250. If it sustain and closes above this level next resistance is likely to be seen around 11450 for next week.. During the last week Bank Nifty has made a high of 23211 and given a sharp correction up to 22417 and closed above 100 DEMA of 22420. Its immediate support is likely to been seen around 22450 to 22100 for next week. Its resistance is likely to be seen around 22950 to 23200 for next week. Duringthe last week USDINR has made a lower top formation and closed below 20 DEMA of 75.10. Its immediate support is likely to be seen around 74.50 to 74.10 for next week. Its resistance is likely o be seen around 75.20 and 75.50 for next week. During the last week EURINR has made a higher bottom formation and closed above 20 DEMA of 85.60. Its immediate support is likely to be seen around 86.10 to 85.50 for next week. Its resistance is likely o be seen around 86.90 and 87.50 for next week. During the last week DX has made a lower top formation and closed below 20 DEMA of 96. Its immediate support is likely to be seen around 93.90 to 93.5 for next week. Its resistance is likely to be seen around 95.30 and 95.90 for next week. Equities Commodities Demat IPOs Research Mutual Funds Currencies Training Algorithmic Trading Mobile Trading Wealth Management South Korea's central bank released advanced estimates of the country's gross domestic product for the three months that ended in June. Growth declined 3.3% for the quarter compared with the prior three months that ended in March and was down 2.9% from last year, Bank of Korea said. While private consumption rose 1.4% as people spent more on durable goods, exports dropped 16.6% due to declines in motor vehicles as well as coal and petroleum products. Pfizer and BioNTech reported early positive data on a joint coronavirus vaccine Monday and another candidate from Oxford University and AstraZeneca also showed a positive immune response in an early trial. In US, the Labor Department data showed 1.416 million Americans filed for first-time benefits for the week ending 18 July 2020, a rise of 109,000. It was the 18th straight week in which initial claims totaled more than 1 million, and it snapped a 15-week streak of declining initial claims. In Europe, European Union (EU) leaders reached a deal on a 750 billion euro ($857 billion) recovery fund to help the region recover from the coronavirus crisis. EU heads of state had been locked in talks since Friday morning. Early Tuesday morning, however, the leaders reached a breakthrough agreement. Investor sentiment was also supported by a slew of positive news on the coronavirus vaccine front Trading could be volatile in the forthcoming week as traders roll over positions in the F&O segment from the near month July series to August series. The July 2020 F&O contracts expire on Thursday, 30 July 2020. April-June 2020 quarterly earnings, cues from global markets, macroeconomic data, progress of monsoon, movement of rupee against the dollar, Brent crude oil price movement and investments by foreign portfolio investors (FPI) and domestic institutional investors (DII) will be watched. Among key results, ICICI Bank will declare its April-June quarterly result on 25 July 2020. Bharti Infratel, Kotak Mahindra Bank and Tech Mahindra will announce its April-June their quarterly results on 27 July 2020. UltraTech Cement will declare its April-June quarterly result on 28 July 2020. Bharti Airtel, Dr Reddy's Laboratories, Glaxosmithkline Pharmaceuticals and Maruti Suzuki India will unveil their April-June quarterly results on 29 July 2020. HDFC and Reliance Industries will announce their April-June quarterly results on 30 July 2020. Indian Oil Corporation and State Bank of India will declare their April-June quarterly results on 31 July 2020. On macroeconomic front, India's infrastructure output data for June will be unveiled on 31 July 2020. The spread of coronavirus and its impact on the local and global economy will be closely watched. Total COVID-19 confirmed cases worldwide stood at 1,55,12,282 far with 6,33,425 deaths. India reported 4,40,135 active cases of COVID-19 infection and 30,601 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India. Overseas, China will announce NBS Manufacturing PMI for July on 31 July 2020. Japan will announce preliminary industrial production data for June on 31 July 2020. The US Federal Reserve will announce its interest rate on 29 July 2020. In Europe, the Euro Area inflation rate for July will be announced on 31 July 2020. Week Ahead Market Outlook Cash Market Data Market Indicator Primary Mkt. Updates Pivot Levels Next Week Events Technical Recommendations Index Particulars Nifty Sensex 52 Wk High 52 Wk Low 12430.50 7511.10 10194.15 42273.87 25638.90 38128.90 Close USDINR 74.85 -0.27% EURINR 86.69 1.07% Currency Update CMP Net Change Currency Week 7791.8 -5323.01 Month (July) 3801.50 -7562.47 Institutional Activity (Cr.) FII DII Year (2020) -69992.69 79969.46 - - - - - - Date Price Band Primary Market Update Company
18
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nitial Weekly Newsletter | - 01 Aug , 202026 Jul P O · 2020. 7. 26. · Pivot Levels Next Week Events Technical Recommendations Index Particulars Nifty Sensex 52 Wk High 52 Wk Low
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Weekly Newsletter | - 01 Aug , 202026 Julth st
nitial
ublic
ffering
I
P
O
Market Outlook
The Week That Was
Key indices recorded weekly gains for a fifth straight week on positive global stocks. The S&P
BSE Sensex closed above 38,000, while the Nifty50 settled a tad below 11,200. Reliance
Industries performance boosted the benchmark indices. Global markets were buoyed by a
slew of positive news on the coronavirus vaccine and fiscal stimulus fronts.
In the week ended on Friday, 24 July 2020, the Sensex jumped 1,108.76 points or 3% to settle
at 38,128.90. The Nifty 50 index advanced 292.45 points or 2.68% to settle at 11,194.15.
The BSE Mid-Cap index rose 171.80 or 1.27% to settle at 13,702.55. The BSE Small-Cap index
gained 184.02 points or 1.44% to settle at 12,966.55.
Key domestic barometers ended near the day's high on Monday, 20 July 2020 extending gains
for the fourth straight session. The Nifty managed to close above the psychological 11,000
mark. Encouraging Q1 earnings from index pivotals countered the impact of the surge in
domestic coronavirus cases. The barometer S&P BSE Sensex rose 398.85 points or 1.08% at
37,418.99. The Nifty 50 index gained 120.50 points or 1.11% at 11,022.20.
Key equity benchmarks ended with strong gains on Tuesday, 21 July 2020 rising for the fifth
straight session. Global shares advanced as European Union (EU) leaders agreed on a 750
billion euros package aimed at funding post-pandemic relief efforts in the region. Hopes for a
coronavirus vaccine also lifted risk appetite. The first set of results from early-stage clinical
trials of the Oxford University COVID-19 vaccine candidate show the vaccine is safe and
induces an immune reaction. The barometer S&P BSE Sensex jumped 511.34 points or 1.37%
at 37,930.33. The Nifty 50 index rose 140.05 points or 1.27% at 11,162.25.
Domestic stocks ended lower after a volatile session on Wednesday, 22 July 2020. The
barometer S&P BSE Sensex lost 58.81 points or 0.16% at 37,871.52. The Nifty 50 index shed
29.65 points or 0.27% at 11,132.60.
Indices ended near the day's high on Thursday, 23 July 2020. The barometer index, the S&P
BSE Sensex, rose 268.95 points or 0.71% at 38,140.47. The Nifty 50 index climbed 82.85 points
or 0.74% at 11,215.45.
Key indices ended near the flat line on Friday, 24 July 2020. The barometer index, the S&P BSE
Sensex dropped 11.57 points or 0.03% at 38,128.90. The Nifty 50 index lost 21.30 points or
0.19% at 11,194.15. Sentiment was impacted by negative global cues amid rising coronavirus
cases and ongoing US-China tensions.
Market regulator Securities and Exchange Board of India (Sebi) on Monday, 20 July 2020
released framework to enable verification of upfront collection of margins from clients in cash
and derivatives segments. The new framework will come into effect from 1 December 2020
and will be implemented in a phased manner. From 1 September 2021, investors and traders
will have to pay all the margins upfront to the broker before the trade. Currently, the rule of
bringing in the entire upfront margins is only applicable to traders in derivatives.
Total COVID-19 confirmed cases worldwide stood at 1,55,12,282 far with 6,33,425 deaths.
India reported 4,40,135 active cases of COVID-19 infection and 30,601 deaths, according to
the data from the Ministry of Health and Family Welfare, Government of India. .
On global front, Japan's exports dived 26.2% in June from a year earlier. Imports fell 14.4%,
compared with expectations of a 16.8% decline.
China kept its benchmark lending rate steady for the third straight month on Monday. The
one-year loan prime rate was kept unchanged at 3.85%, while the five-year remained at 4.65%.
In the latest deterioration in Sino-U.S. ties, the United States ordered China to close its
consulate in Houston, saying it was “to protect American intellectual property and Americans'
private information.” China strongly condemned the move, and it was reportedly considering
shutting the U.S. consulate in Wuhan in retaliation.
Beijing vowed to close the US consulate in the southwestern city of Chengdu. The move
comes after the US ordered the closure of a Chinese consulate in Houston, citing fraud and
espionage, highlighting rising tensions between the global superpowers.
Tech
nic
al
Vie
w
Sensex Outlook (38128):
Nifty Outlook (11194):
Bank Nifty Outlook (22662):
USDINR Outlook (74.85):
EURINR Outlook (86.69):
Dollar Index Outlook (94.38):
During the last week Sensex has given a breakout from 37185 to 38225 and given a consolidation at higher level. Its immediate support is likely to been seen around 37750. If trades or closes below 37750 next support
is likely to be seen around 37450 to 36950. Its immediate resistance is likely to be seen around 38250. If it sustain and closes above this level next resistance is likely to be seen around 38950 to 39100 for next weekk.
Markets traded with a negative bias for a major part of the day as profit booking weighed in. However, the indices witnessed recovery in the closing hour of the trade. During the last week Nifty has given a breakout from
10749 to 11240 and given a consolidation at higher level. Its immediate support is likely to been seen around 11120. If trades or closes below 11120 next support is likely to be seen around 11020 to 10950. Its immediate resistance is likely to be
seen around 11250. If it sustain and closes above this level next resistance is likely to be seen around 11450 for next week..
During the last week Bank Nifty has made a high of 23211 and given a sharp correction up to 22417 and closed above 100 DEMA of 22420. Its immediate support is likely to been seen around 22450 to 22100 for next
week. Its resistance is likely to be seen around 22950 to 23200 for next week.
Duringthe last week USDINR has made a lower top formation and closed below 20 DEMA of 75.10. Its immediate support is likely to be seen around 74.50 to 74.10 for next week. Its resistance is likely o be seen around
75.20 and 75.50 for next week.
During the last week EURINR has made a higher bottom formation and closed above 20 DEMA of 85.60. Its immediate support is likely to be seen around 86.10 to 85.50 for next week. Its resistance is likely o be seen
around 86.90 and 87.50 for next week.
During the last week DX has made a lower top formation and closed below 20 DEMA of 96. Its immediate support is likely to be seen around 93.90 to 93.5 for next week. Its resistance is likely to be seen around
95.30 and 95.90 for next week.
Equities Commodities Demat IPOs ResearchMutual
Funds
Currencies Training Algorithmic
TradingMobile
Trading
Wealth
Management
South Korea's central bank released advanced estimates of the country's gross domestic
product for the three months that ended in June. Growth declined 3.3% for the quarter
compared with the prior three months that ended in March and was down 2.9% from last year,
Bank of Korea said. While private consumption rose 1.4% as people spent more on durable
goods, exports dropped 16.6% due to declines in motor vehicles as well as coal and petroleum
products.
Pfizer and BioNTech reported early positive data on a joint coronavirus vaccine Monday and
another candidate from Oxford University and AstraZeneca also showed a positive immune
response in an early trial.
In US, the Labor Department data showed 1.416 million Americans filed for first-time benefits
for the week ending 18 July 2020, a rise of 109,000. It was the 18th straight week in which
initial claims totaled more than 1 million, and it snapped a 15-week streak of declining initial
claims.
In Europe, European Union (EU) leaders reached a deal on a 750 billion euro ($857 billion)
recovery fund to help the region recover from the coronavirus crisis. EU heads of state had
been locked in talks since Friday morning. Early Tuesday morning, however, the leaders
reached a breakthrough agreement. Investor sentiment was also supported by a slew of
positive news on the coronavirus vaccine front
Trading could be volatile in the forthcoming week as traders roll over positions in the F&O
segment from the near month July series to August series. The July 2020 F&O contracts expire
on Thursday, 30 July 2020.
April-June 2020 quarterly earnings, cues from global markets, macroeconomic data, progress
of monsoon, movement of rupee against the dollar, Brent crude oil price movement and
investments by foreign portfolio investors (FPI) and domestic institutional investors (DII) will
be watched.
Among key results, ICICI Bank will declare its April-June quarterly result on 25 July 2020.
Bharti Infratel, Kotak Mahindra Bank and Tech Mahindra will announce its April-June their
quarterly results on 27 July 2020.
UltraTech Cement will declare its April-June quarterly result on 28 July 2020.
Bharti Airtel, Dr Reddy's Laboratories, Glaxosmithkline Pharmaceuticals and Maruti Suzuki
India will unveil their April-June quarterly results on 29 July 2020.
HDFC and Reliance Industries will announce their April-June quarterly results on 30 July 2020.
Indian Oil Corporation and State Bank of India will declare their April-June quarterly results on
31 July 2020.
On macroeconomic front, India's infrastructure output data for June will be unveiled on 31
July 2020.
The spread of coronavirus and its impact on the local and global economy will be closely
watched. Total COVID-19 confirmed cases worldwide stood at 1,55,12,282 far with 6,33,425
deaths. India reported 4,40,135 active cases of COVID-19 infection and 30,601 deaths,
according to the data from the Ministry of Health and Family Welfare, Government of India.
Overseas, China will announce NBS Manufacturing PMI for July on 31 July 2020.
Japan will announce preliminary industrial production data for June on 31 July 2020.
The US Federal Reserve will announce its interest rate on 29 July 2020.
In Europe, the Euro Area inflation rate for July will be announced on 31 July 2020.
This Document has been prepared by Tradeswift Broking Pvt. Ltd., for use by the recipient only and not for circulation. The information and opinions contained in the document
have been complied from sources believed to be reliable. Tradeswift Broking Pvt. Ltd., does not warrant its accuracy, completeness and correctness.This report is for your guidance
only. Tradeswift Broking Pvt. Ltd. Or any of its director/employee/signatories or any other person will not be responsible for any trade done based on the report mentioned above.
Tradeswift Broking Pvt. Ltd has no personal trading interest in any of the scrips detailed above. Trading in commodities is facilitated through associate companies : Tradeswift
Commodities Private Limited (NCDEX) and Tradeswift Derivatives Private Limited (MCX)
Commodity MonthLTP as on
24.07.2020Strategy Resistance Support Technical Comments
Chana Sep 4140
Buy around
support levels
and sell near
resistance
levels
4190/4230 4110/4050
It has made a lower top formation and closed below 200 DEMA of
4190. Traders can sell on rise with SL 4190. Above this level it can go
up to around 4230. It can also correct from these levels. It can also
bounce from support levels.
Guar Gum Sep 6128
Buy around
support levels
and sell near
resistance
levels
6230/6370 5920/5750
It has made a high of 6389 and given a correction from this level up
to 6086 and closed below 200 DEMA of 6330. Traders can sell on rise
near resistance levels with SL 6370. Traders can buy on declines with
SL 5920. If trades or closes below this level it can correct up to
around 5750. It can also bounce from this level.
Guar Seed Sep 3848
Buy around
support levels
and sell near
resistance
levels
3930/3990 3790/3750
It has made a high of 3987 and given a correction from this level up
to 3803 and closed above 200 DEMA of 3790. Traders can sell on rise
near resistance levels with SL 3990. Traders can buy on declines with
SL 3790. If trades or closes below this level it can correct up to
around 3750 to 3690. It can also bounce from this level.
Jeera Sep 14315
Buy around
support levels
and sell near
resistance
levels
14550/14750 14150/13950
It has made a high of 14850 and given a correction from this level up
to 14250 and closed below 200 DEMA of 14530. Traders can sell on
rise near resistance levels with SL 14550. Closes above this level it
can go up to around 14750. It can also correct from these levels.
Traders can buy on declines with SL 13900.
Agri Commodities
Soyabean Sep 3780
Buy around
support levels
and sell near
resistance
levels
3810/3870 3730/3670
It has made a higher bottom formation and closed above 20 DEMA of
3760. Traders can buy on declines with SL 3730. Below this level it
can correct up to around 3670. It can also bounce from this level. It
can also correct from resistance levels.
RMSeed Sep 4797
Buy around
support levels
and sell near
resistance
levels
4870/4950 4720/4630
It has made a higher bottom formation and closed above 20 DEMA of
4720. Traders can buy on declines with SL 4720. Below this level it
can correct up to around 4630. It can also bounce from this level. It
can also correct from resistance levels.
Soya Oil Ref. Sep 859
Buy around
support levels
and sell near
resistance
levels
865/875 845/830
It has made a higher bottom formation and closed above 20 DEMA of
835. Traders can buy on declines with SL 845. Below this level it can
correct up to around 835 to 830. It can also bounce from this level. It
can also correct from resistance levels.
Cocud(N) Sep 1767
Sell on rise and
buy near
support levels
1890/1950 1720/1650
It has made a lower top formation and closed below 20 DEMA of
1950. Traders can sell on rise with SL 1890. Closes above this level it
can go up to around 2050. Near support levels it can give some
bounce.
Dhania Sep 6630
Buy around
support levels
and sell near
resistance
levels
6850/7050 6510/6350
It has made a higher bottom formation and closed at 20 DEMA of
6350. Traders can buy on declines with SL 6510. Below this level it
can correct up to around 6350 . It can also bounce from this level. It
can also correct from resistance levels. Traders can sell on bounce
with SL 6850.
TMC Sep 5911
Buy around
support levels
and sell near
resistance
levels
6190/6250 5850/5750
It has made a higher bottom formation and closed above 200 DEMA
of 5850. Traders can buy on declines with SL 5850. Below this level it
can correct up to around 5750. It can also bounce from this level. It
can also correct from resistance levels.
Mentha oil (MCX) Aug 945
Buy around
support levels
and sell near
resistance
levels
960/980 930/920
It has made a lower top formation and closed below 20 DEMA of 980.
Traders can sell on rise with SL 960. Closes above this level it can go
up to around 980. It can also correct from this level. It can also
bounce from support levels.
CPO (MCX) Aug 728
Buy around
support levels
and sell near
resistance
levels
735/745 710/690
It has made a higher bottom formation and closed above 20 DEMA of
692. Traders can buy on declines with SL 710. Below this level it can
correct up to around 690. It can also bounce from these levels. It can
also correct from resistance levels.
Commodity MonthLTP as on
24.07.2020Strategy Resistance Support Technical Comments
Gold Aug 51035 Buy on decline51200/51500/
51900
50550/
50100
Gold has given a sharp breakout from 49300 to 51184 and closed above
20 DEMA of 49170. Traders can buy on declines with near SL of 50550. If
trades below this level it can correct up to around 50100 to 49750. It can
also bounce from these levels. Near resistance levels it can give some
correction.
Silver Sep 61223 Buy on decline61900/62300/
62900
59100/
57500
Silver has given a sharp breakout from 53100 to 62400 and closed above
20 DEMA of 54100. Traders can buy on declines with near SL of 60500. If
trades below this level it can correct up to around 59100 to 57500. It can
also bounce from these levels. Near resistance levels it can give some
correction.
Copper Aug 502
Buy around
support levels
and sell near
resistance
levels
507/510 497/491
Copper has made a higher bottom formation and closed above 20 DEMA
of 487. Traders can buy on declines with near SL of 497. If trades below
this level it can correct up to around 491 to 487. It can also bounce from
these levels. Near resistance levels it can give some correction.
Aluminum Aug 139.5
Buy around
support levels
and sell near
resistance
levels
141/143 137.90/137
It has made a higher bottom formation and closed above 200 DEMA of
137.90. Traders can buy on declines with SL 137. Near resistance levels it
can give some correction.
Non - Agri Commodities
Lead Aug 147
Buy around
support levels
and sell near
resistance
levels
149/151 145.50/145
It has made a higher bottom formation and closed above 20 DEMA of
145.50. Traders can buy on declines with SL 145. Near resistance levels it
can give some correction.
Zinc Aug 175
Buy around
support levels
and sell near
resistance
levels
177/179 173/170
It has made a higher bottom formation and closed above 20 DEMA of
170.9. Traders can buy on declines with SL 170. Near resistance levels it
can give some correction. Traders can also sell on bounce near resistance
levels and consider near resistance levels as SL.
Nickel Aug 1029
Buy around
support levels
and sell near
resistance
levels
1050/1070 1010/990
It has made a higher bottom formation and closed above 20 DEMA of
1010. Traders can buy on declines with SL 1010. Near resistance levels it
can give some correction.
Crude Oil Aug 3072
Buy around
support levels
and sell near
resistance
levels
3170/3250/
3350
3050/2950/
2850
Crude oil has made a lower top formation but closed above 200 DEMA of
3050. Traders can buy on declines with SL 3050. Below this level it can
correct up to around 2950 to 2850. It can also bounce from these level.
Traders can also sell on bounce near resistance levels and consider near
resistance level as SL.
Natural Gas Aug 139
Buy around
support levels
and sell near
resistance
levels
143/150 135/130
It has made a higher bottom formation and closed above 20 DEMA of
135. Traders can buy on declines with SL 135. Below this level it can
correct up to around 130. It can also bounce from this level. It can also