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CNX NIFTY: Finally CNX Nifty came out from a range and given a highest close of 8322.20 with huge breakout. CNX Nifty has given monthly bullish reversal at 7950, also breaking its resistance levels of 8105/8121 (as we mentioned last week).
After three months of consolidation finally CNX Niftys Bull Run again came on uptrend.

For the coming week we advice to stay with the trend and enjoy the Bull Run. Strategy should be buy on dips around 8150/8100.
We can see a target of 8700 in near term. Long term support is at 7700 levels.

CNXNIFTY (Weekly Chart)

Gold (Monthly Line Chart)

GOLD - Week on week Gold is giving a negative close from its recent high of 1280. Though trend is negative we are seeing Gold to bottom out in near term. As lots of jokes like Sensex is higher than Gold is also flowing around in markets.
Technically Gold has a long term trend line support near 1165/1160 levels on monthly closing basis.

- Even Silver also giving week on week negative close from the levels of 18.65. As of now main trend is negative in Silver and lots of jokes/stories are flowing around in market like, merger of Silver & Aluminium at COMEX, but We at NTD says that worst is over in Silver.

We are seeing Silver to bottom out in near term & we need bullish weekly or monthly reversal for same.     


Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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