VIEWThere is no proper trade in bank nifty accept scalping for a couple of days now. I will short only when 15 min candle closes below the 29529 spot. For a long trade, I feel let this expiry get over then the only big move is possible.
Tradelevel
GOLD - Bulls and bears facing each other aggressively now !! Refer the charts for detailed analysis ;
Gold closing price is on interesting note, but odds are still more in favor of bull run as the bears failed miserably at the end to break the channel.
Levels which are important for the next week is ;
Gold is still a buy on dips until it not breaches 2014-2011 level which currently closed at 2035 mark, Go for long keeping 2011 as stop loss level & 2110 as a weekly target.
Below 2011 if breaks, bears will take the price movement in their control and aggressively profit booking can be seen which will drag down the gold to 1940 level.
Cheers...Happy trading....All the best
Traders if you liked the analysis or have an opinion, write in the comment section.
Thanks !!
GBPJPY Short Trade - PIPS CAPTURED GBPJPY was generous and paid us for our time/analysis and patience. Stop Profit move now below BE. 30% of the short left to ride.
