comex copper Weekly & Daily Chart

Shooting star formation In weekly chart the market will fall upto 339 levels after tht some bounce will be there upto 360 once it breaks 339 levels next target will be 260

In Daily Chart Elliot Wave

As per wave counting the 5th wave at 407 (rally from 317) or the intermediate bull has ended and trading at the abc corrective
trend of the intermediate cycle.
Breakup of the Intermediate Trend
317 to 353- 1st Impulse Wave
336 to 389- 3rd Impulse Wave
371 to 407- 5th Impulse Wave

353 to 336– 2nd Corrective Wave
389 to 371 4th Corrective waves

The market seems trading in the a-b-c structure and presently is at the “a” wave of the corrective trend.

The market is expected to be under pressure with immediate support at 380 (Trend line Support) and break below the same may push rates lower towards the support pegged at 352 (Trend line support & 38.2% retracement of 272 to 407 )

Strong Recommendation(Comex copper HGZ0 Futures)

Sell @ 390 Stp @ 407 tgt 339

MCX Copper Players (nov)

Sell@389 Stop @395 Tgt @370



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Nifty Weekly & Daily Charts

Bearish Engulfing formation in Weekly chart and Strong trendline supportin weekly & Daily charts @5800. Once Nifty Close below 6000 Two concsecutive days in daily chart it will Fall upto 5800 and Nov Expiry close @5900 to 5950 levels and upper side resistance 5270 and 5340 and 6420

In weekly Chart Rsi Strong Suppot @ 52

In Daily chart Rsi Support @48 once It break means Next Strong support @30

Strong Recommendation(nov Futures)

Sell @ 6145 Stp @ 6200 tgt 5800

Option Players (nov)

Buy 6000PE@45 to 50 levels Stop @15 Tgt @250

Srong buy dec futures @ 5835 Stop @5750 tgt 6150

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Gold Weekly Chart XAU/USD

Gold Weekly Chart

Last week market moves from 1389 and it reached high 1423$ afer tht gold fell upto 1368$

Short term
Shooting star formation In weekly chart the market will fall upto 1318 (38.2 retracement of 1155 to 1425 $ Strong Support in Weekly & Daily Chart) levels after tht some bounce will be there upto 1345 once it breaks 1318$ levels next target will be 1260(61.8 retracement of 1155 to 1425 $ Trend line Support in Weekly & Daily Chart & 200 moving average in daily Chart)

Strong Recommendation( Gold XAU/USD)

Sell @ 1370 Stp @ 1400 tgt 1318 and 1260

MCX Gold Players (Dec)

Sell MCX Decmebr GOLD between 20150 TO 20200 with strict stop-loss above 20490 Targeting initially 19800 and then 19400

Long term players & Physical buyers wait for 1260$ good buying level after tht market will move 1500$ in jan2011