Daily View - 8 Oct, Tue

BRIEF ANALYSIS FOR POSITIONAL TRADING
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EQUITIES
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1. NIFTY:
Minor Trend - Up
Nature of Trend - Cyclic
Cycle Direction - Up
Expected upside till - 2nd week of Oct
Current price movement- Upward move is weakning
Open position - Short (Future sold at 5975) was closed yesterday near market closing at 5938.
Strategy - Sell future on rise near 6040.

2. NIKKEI:
Minor Trend - Consolidating since May 2013
Nature of trend - cyclic
Current Cycle Direction - Down
Current price movement- price approaching near a short term cycle bottom in a bigger down cycle.
Open position: -
Strategy: -

3. HANGSENG:
Minor Trend - Up
Nature of trend - cyclic
Cycle Direction - Down
Current price movement- down cycle, pullback may happen today
Strategy: Sell signal should be generated on a rise

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CURRENCIES:
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1. DOLLAR INDEX:
Minor Trend - Down
Nature of trend - cyclic
Cycle Direction - Down
Current price movement- There is a pullback which may take it to 80.8-81.2-82
Strategy:

2. EURUSD:
Minor Trend - Up
Nature of trend - cyclic
Cycle Direction - Up
Current price movement- Price is trending up, but correction is in place which may last 1-3 days.
Strategy: Buy on dips near 1.348

3. JPYUSD:
Minor Trend - Up
Nature of trend - cyclic
Cycle Direction - Up
Current price movement- Price is trending up and is about to come up from within a triangle. An upward breakout may take it to 1.065 and above. It was mentioned yesterday that "Price can also breakout above 1.032 without coming down", and that has happened.
Strategy: Buy on dips near 1.03

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COMMODITIES:
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1. GOLD (MCX): 29486
Minor Trend - Up
Nature of trend - cyclic
Cycle Direction - Up
Current price movement- Price is near cycle bottom. if it fails to rise, it will start trending down. Closing above 29500 will indicate good chances of an up cycle. If it closes below 29200, it will indicate further fall. Right now it is almost at bottom of an intermediate cycle.
Open Position: Buy was recommended near market close yesterday
Strategy: Hold

2. SILVER (MCX):
Minor Trend - Up
Nature of trend - cyclic
Cycle Direction - Up
Current price movement- Price is near cycle bottom and if it fails to rise, it will start trending down. We mentioned yesterday that "If today it remains above 48500, it will be bullish." - and it was above that level and went up by about 3%!. Price is following now its up cycle.
Open Position: -
Strategy: Buy on dips near 49000

3. COPPER (MCX):
Minor Trend - Up
Nature of trend - cyclic
Cycle Direction - Up
Current price movement- Price is near cycle bottom and if it fails to rise, it will start trending down. It is very much near a cycle bottom.
Open Position: -
Strategy: Pullback expected. Safe to buy on dips near 450. Keep SL 448