Daily View

COMMODITIES (MCX)

	GOLD	SILVER	COPPER
EOD Price	INR 30204	INR 48653	INR 454.4
Minor Trend
·   Trend Direction	Up	Up	Up
·   Nature	Cyclic	Cyclic	Cyclic
o If Cyclic – cycle direction	Rising	Rising	Rising
·   Current position	Near cycle bottom	Near cycle bottom	Near cycle bottom
·   Expected duration	Uptrend may last 2 w
·   Expected Range
o Downside	29800 - 29600 – 29050 – 29000	45000 – 43000	450 – 445
o Upside	30370 – 31300	49000 – 50700	457-460 – 463 – 467 – 472
·   Threat	Uptrend can weaken below 30540 – 29800 – 29600	Correction may convert to a down trend
TRADING
New Signal	Buy on dips near 30000, SL 29600	-	-
Open Position	-	-	-
Analysis	Price is at cycle bottom which started in July, and if it fails to rise, it will start trending down. Closing above 30250 will indicate good chances of a up cycle. If it closes below 29600, it will indicate further fall.	Price is near cycle bottom and if it fails to rise, it will start trending down. If today it remains above 48500, it will be bullish	Price is near cycle bottom and if it fails to rise, it will start trending down. Below 456, uptrend is under threat

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

Strategy - Hold

2. NIKKEI:

Minor Trend - Consolidating

Nature of trend - cyclic

Cycle Direction - Down

Current price movement- Entered downtrend yesterday

Open position - Short

Strategy: Hold

3. HANGSENG:

Minor Trend - Up

Nature of trend - cyclic

Cycle Direction - Down

Current price movement- Entered downtrend last week

Strategy: Sell signal should be generated on a rise in 1-2 days 

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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- Entered downtrend last week

Strategy: Sell signal may be generated on a spike 

2. EURUSD:

Minor Trend - Up

Nature of trend - cyclic

Cycle Direction - Up

Current price movement- Price is trending up

Strategy: Avoid trading  

3. JPYUSD:

Minor Trend - Up

Nature of trend - cyclic

Cycle Direction - Up

Current price movement- Price is at top of cycle

Strategy: Sell signal may be generated in few days  

4. USDCAD:

Minor Trend - Up

Nature of trend - cyclic

Cycle Direction - Up

Current price movement- Price is at bottom of cycle

Strategy: Wait for a clear signal  

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