Weekly Newsletter | - 08 Aug , 2020 02 Aug nd th 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 (37607): Nifty Outlook (11073): Bank Nifty Outlook (21640): USDINR Outlook (75.01): EURINR Outlook (88.75): Dollar Index Outlook (93.32): During the last week Sensex has made a high of 38617 and given a correction from this level up to 37431. Its immediate support is likely to been seen around 37300 to 37150 for next week. Its immediate resistance is likely to be seen around 37950. If it sustain and closes above this level next resistance is likely to be seen around 38250 for next week. Markets traded with a negative bias for a major part of the day as profit booking weighed in. During the last week Nifty has made a high of 11341 and given a correction from this level up to 11027. Its immediate support is likely to been seen around 11030. If trades or closes below 11120 next support is likely to be seen around 10930. Its immediate resistance is likely to be seen around 11150. If it sustain and closes above this level next resistance is likely to be seen around 11230 to 11270 for next week. During the last week Bank Nifty has made a lower top formation and closed below 20 DEMA of 22010. Its immediate support is likely to been seen around 21350 to 21050 for next week. Its resistance is likely to be seen around 22050 to 22390 for next week. During the last week USDINR has made a higher bottom formation and closed above 100 DEMA of 74.90. Its immediate support is likely to be seen around 74.90. If trades or closes below this level support is likely to be seen around 74.30 to 74.10 for next week. Its resistance is likely o be seen around 75.30 and 75.70 for next week. During the last week EURINR has made a higher bottom formation and closed above 20 DEMA of 86.60. Its immediate support is likely to be seen around 87.50 to 86.70 for next week. Its resistance is likely o be seen around 89.70 and 90.50 for next week. During the last week DX has made a lower top formation and closed below 20 DEMA of 95. Its immediate support is likely to be seen around 93.10 to 92.50 for next week. Its resistance is likely to be seen around 93.90 and 94.70 for next week. Equities Commodities Demat IPOs Research Mutual Currencies Training Algorithmic Mobile Wealth 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 10073.45 42273.87 25638.90 37606.89 Close USDINR 75.01 0.21% EURINR 88.75 2.37% Currency Update CMP Net Change Currency Week -1311.32 2445.41 Month (July) 2490.18 -10007.48 Institutional Activity (Cr.) FII DII Year (2020) -71304.01 77524.05 - - - - - - Date Price Band Primary Market Update Company
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TheWeekThat Was Index Market Outlook Cash Market Data ... 0… · Pivot Levels Next Week Events Technical Recommendations Index Particulars Nifty Sensex 52 Wk High 52 Wk Low 12430.50
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Weekly Newsletter | - 08 Aug , 202002 Augnd th
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 (37607):
Nifty Outlook (11073):
Bank Nifty Outlook (21640):
USDINR Outlook (75.01):
EURINR Outlook (88.75):
Dollar Index Outlook (93.32):
During the last week Sensex has made a high of 38617 and given a correction from this level up to 37431. Its immediate support is likely to been seen around 37300 to 37150 for next week. Its immediate resistance is
likely to be seen around 37950. If it sustain and closes above this level next resistance is likely to be seen around 38250 for next week.
Markets traded with a negative bias for a major part of the day as profit booking weighed in. During the last week Nifty has made a high of 11341 and given a correction from this level up to 11027. Its immediate support
is likely to been seen around 11030. If trades or closes below 11120 next support is likely to be seen around 10930. Its immediate resistance is likely to be seen around 11150. If it sustain and closes above this level next resistance is likely to be
seen around 11230 to 11270 for next week.
During the last week Bank Nifty has made a lower top formation and closed below 20 DEMA of 22010. Its immediate support is likely to been seen around 21350 to 21050 for next week. Its resistance is likely to be
seen around 22050 to 22390 for next week.
During the last week USDINR has made a higher bottom formation and closed above 100 DEMA of 74.90. Its immediate support is likely to be seen around 74.90. If trades or closes below this level support is likely to be
seen around 74.30 to 74.10 for next week. Its resistance is likely o be seen around 75.30 and 75.70 for next week.
During the last week EURINR has made a higher bottom formation and closed above 20 DEMA of 86.60. Its immediate support is likely to be seen around 87.50 to 86.70 for next week. Its resistance is likely o be seen
around 89.70 and 90.50 for next week.
During the last week DX has made a lower top formation and closed below 20 DEMA of 95. Its immediate support is likely to be seen around 93.10 to 92.50 for next week. Its resistance is likely to be seen around
93.90 and 94.70 for next week.
Equities Commodities Demat IPOs ResearchMutualCurrencies Training AlgorithmicMobile Wealth
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
31.07.2020Strategy Resistance Support Technical Comments
Chana Sep 4123
Buy around
support levels
and sell near
resistance
levels
4190/4230 4090/4050
It has made a lower top formation and closed below 200 DEMA of
4180. Traders can sell on rise with SL 4190. Above this level it can go
up to around 4230 to 4270. It can also correct from these levels. It
can also bounce from support levels.
Guar Gum Sep 6139
Buy around
support levels
and sell near
resistance
levels
6230/6370 5920/5730
It has made a high of 6475 and given a correction from this level up
to 6091 and closed below 200 DEMA of 6330. Traders can sell on rise
near resistance levels with SL 6370. Closes above this level it can go
up to around 6490 to 6530. It can also correct from these levels.
Traders can buy on declines with SL 5920. If trades or closes below
this level it can correct up to around 5730. It can also bounce from
this level.
Guar Seed Sep 3857
Buy around
support levels
and sell near
resistance
levels
3930/3990 3790/3690
It has made a lower top formation but closed above 200 DEMA of
3790. Traders can buy on correction near support levels with SL
around 3790. Closes below this level it can correct up to around
3690. It can also bounce from this level. Near resistance levels it can
give some correction.
Jeera Sep 14050
Buy around
support levels
and sell near
resistance
levels
14350/14500 13900/13700
It has made a high of 14850 and given a correction from this level up
to 13965 and closed below 200 DEMA of 14500. Traders can sell on
rise near resistance levels with SL 14350. Closes above this level it
can go up to around 14500. It can also correct from these levels.
Traders can buy on declines with SL 13900.
Agri Commodities
Soyabean Sep 3756
Buy around
support levels
and sell near
resistance
levels
3810/3870 3730/3670
It has made a higher bottom formation and closed at 20 DEMA of
3755. Traders can buy on declines with SL 3720. Closes below this
level it can correct up to around 3590 to 3570. It can also bounce
from this level. It can also correct from resistance levels.
RMSeed Sep 4980Buy on
declines5030/5090 4870/4790
It has made a higher bottom formation and closed above 20 DEMA of
4790. Traders can buy on declines with SL 4870. Below this level it
can correct up to around 4790. It can also bounce from this level. It
can also correct from resistance levels.
Soya Oil Ref. Sep 875Buy on
declines890/910 860/845
It has made a higher bottom formation and closed above 20 DEMA of
845. Traders can buy on declines with SL 860. Below this level it can
correct up to around 845. It can also bounce from this level. It can
also correct from resistance levels.
Cocud(N) Sep 1787
Sell on rise and
buy near
support levels
1890/1990 1750/1720
It has made a lower top formation and closed below 20 DEMA of
1890. Traders can sell on rise with SL 1890. Closes above this level it
can go up to around 1950 to 1990. It can also bounce correct from
these levels. Near support levels it can give some bounce.
Dhania Sep 6428
Buy around
support levels
and sell near
resistance
levels
6550/6790 6320/6230
It has made a high of 6776 and given a correction from this level up
to 6330 and closed above 200 DEMA of 6390. Traders can buy on
correction with SL 6320. Below this level it can correct up to around
6230. It can also bounce from this level. It can also correct from
resistance levels.
TMC Sep 5825
Buy around
support levels
and sell near
resistance
levels
5950/6250 5750/5670
It has made a high of 5970 and given a correction from this level up
to 5792 and closed below 200 DEMA of 5850. Traders can sell on rise
with SL 5950. Closes above this level it can go up to around 6250. It
can also correct from this level. It can also bounce from support
levels.
Mentha oil (MCX) Aug 940
Buy around
support levels
and sell near
resistance
levels
960/990 930/920
It has made a lower top formation and closed below 20 DEMA of 960.
Traders can sell on rise with SL 965. Closes above this level it can go
up to around 990. It can also correct from this level. It can also
bounce from support levels.
CPO (MCX) Aug 735
Buy around
support levels
and sell near
resistance
levels
735/745 720/705
It has made a higher bottom formation and closed above 20 DEMA of
705. Traders can buy on declines with SL 720. Below this level it can
correct up to around 705. It can also bounce from these levels. It can
also correct from resistance levels.
Commodity MonthLTP as on
31.07.2020Strategy Resistance Support Technical Comments
Gold Oct 53445 Buy on decline 53750/54300
53100/
52500/
51900
Gold has given a sharp breakout from 51459 to 53700 and closed above
20 DEMA of 5730. Traders can buy on declines with near SL of 53100. If
trades below this level it can correct up to around 52500 to 51900. It can
also bounce from these levels. Near resistance levels it can give some
correction.
Silver Sep 64985 Buy on decline65700/66500/
67500
64300/
63500/
62100
Silver has made a high of 67560 and given a correction from this level up
to 61800 and given a bounce from this level up to 65679. Traders can buy
on correction near support levels and consider near support levels as SL.
Near resistance levels it can give some correction.
Copper Aug 501
Sell on rise and
buy near
support levels
505/510 495/487
Copper has made a lower top formation and broken trend line support of
503. Traders can sell on rise with near SL of 505. It can also bounce near
support levels.
Aluminum Aug 140.9
Buy around
support levels
and sell near
resistance
levels
142/143 139.50/137
It has made a higher bottom formation and closed above 20 DEMA of
139.50. Traders can buy on declines with SL 139.50. Below this level it can
correct up to around 137.50 to 137. It can also bounce from these levels.
Near resistance levels it can give some correction.
Non - Agri Commodities
Lead Aug 149.2
Buy around
support levels
and sell near
resistance
levels
150/151 147/145
It has made a higher bottom formation and closed above 200 DEMA of
147. Traders can buy on declines with SL 147. Closes below this level it
can correct up to around 145. It can also bounce from this level. Near
resistance levels it can give some correction.
Zinc Aug 184
Buy around
support levels
and sell near
resistance
levels
185/187 182/179
It has made a higher bottom formation and closed above 200 DEMA of
178. Traders can buy on declines with SL 182. Below this level it can
correct up to around 180 to 179. It can also bounce from these levels.
Near resistance levels it can give some correction.
Nickel Aug 1042
Buy around
support levels
and sell near
resistance
levels
1050/1070 1030/1020
It has made a higher bottom formation and closed above 20 DEMA of
1020. Traders can buy on declines with SL 1030. Below this level it can
correct up to around 1020. It can also bounce from this level. Near
resistance levels it can give some correction.
Crude Oil Aug 3024
Buy around
support levels
and sell near
resistance
levels
3070/3150 2950/2910
Crude oil has made a lower top formation and closed below 20 DEMA of
3050. Traders can sell on rise with SL 3070. If it sustain above this level it
can go up to around 3150. It can also correct from this level. It can also
bounce from support levels.
Natural Gas Aug 135
Buy around
support levels
and sell near
resistance
levels
143/147 130/127
It has made a lower top formation and closed below 200 DEMA of 143.
Traders can sell on rise with SL 143. Closes above this level it can go up to
around 147. It can also correct from this level. It can also bounce from