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Support at 28700 and Resistance at 28900
Break and sustain below 28700 will take to 28620---28550 and then to 28400 mark. More and more downside panic will see only close below 28700 mark else it could test its resistance level of 28900 again
Break and sustain above 28900 with volume will see further upside rally till 29050 and then to 29450---29600 mark
Traders can trade with levels only
Support at 36200---35900 and Resistance at 37000
Close above 37000 will take to 37300---37450 and then to 38000 mark else it could test its support level of 36200---35900 again
Three consecutive closes + weekly close below 35900 will see free fall in Silver
Trade with levels only
Sell below 66.35 Target 66.00-65.80. Stop loss above 66.70 (LTP 66.50)
Important factor/data from India
RBI first bi-monthly monetary policy statement 2016-17 on 5 April 2016
Dollar/Rupee extended its recent bearish trend for fifth consecutive week and settled at 66.502 compare to previous week close of 67.16 as exporter undertook selling activities on fears that greenback may weaken further after the Federal Reserve Chairperson, Janet Yellen continued to sound cautious of downward risks to the world's largest economy and said the central Bank would raise its policy rates gradually.
Since 8 March USDINR has been following the Bearish Gartley pattern on weekly chart, and recently it broke the crucial support of 66.90 which is coincide with 127% Fibonacci Retracement of CD point.
Short term trend continues to look bearish following to above pattern and a break below 66.35 may show correction towards 66.05-65.80 that will coincide with 161.8% Fibonacci Retracement.
Below 2500 …Crude Crashed to kiss 2461..Will it kiss 2400 ?
Yes , CRUDE MCX……………………Below 2500 level , CRASHED VERTICALLY to kiss 2461 !
(Those who shorted again at 2585 level………………………….Again Minted Money in TONS )