amiransari

amiransari

This recent rally in gold seems to be coming to a halt as loss of momentum can be seen through divergence in RSI index, so it might be time to exit longs or book partial profits, one can take short position around 1242-1245 with a good risk reward, and once support at 1220 gets broken we might some good downside move till 1185 level.

amiransari

Current DXY level is of much important as the line nearby which it is trading held key importance in recent past and it seems like that DXY may face strong resistance over here and go down, whereas if it succefully breaks it may act as good support to enter for the next long side trade.

amiransari

Seems that converging price range or rising wedge kind of pattern is coming to an end & SPX500 may face strong resistance and may fall upto blue channel support line(Yellow) roughly upto 2200 levels, whereas the similar kind of behavior may also occur in other markets and emerging markets. And the other scenario is that it may break the channel support line(RED)...

amiransari

Idea can be shorted at CMP 71.70 with SL of 72.90 for the target of 67.70

amiransari

nifty's correlation with eems and constituent indices, nifty has strong correlation with EEM, KSCI (kospi), TWII (Taiwan).