Daily View - 9 Oct, Wed

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: - Though sell level 6040 not reached but if short, exit.
Strategy - Sell future on rise near 6060.Sell 6100 call option when future is near 6020

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. Pullback expected.
Open position: -
Strategy: -

3. HANGSENG:
Minor Trend - Up
Nature of trend - cyclic
Cycle Direction - Down
Current price movement- As mentioned, pullback took place yesterday. It may continue 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- A more clear cyclic top has formed and indicators are showing forming of a small trending downwards.
Strategy: Sell on a rise near 80.7

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 1.35

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.
Open position: Long at 1.03
Strategy: Hold

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COMMODITIES:
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1. GOLD (MCX): 29619
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: Long
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. Price is following its up cycle.
Open Position: - Recommended buying level 49000 did not reach but if long, book profit.
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. A short downcycle is expected.
Open Position: -
Strategy: Wait