MY GOLDEN QUOTE TO ALL TRADERS

TRADE WITH TREND
DON'T CHALLENGE THE MARKETS
RESPECT THE MARKETS
IT WILL ALWAYS GIVES YOU PROFITS IF YOU DO SO
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RAJESH.SALADI™ Call us @ 09573399376 Contact @ srknifty@yahoo.com in yahoo srknifty@gmail.com in gtalk srknifty in skype

GOLDEN TIP FOR BEGINNERS

WHEN A INDEX OR SCRIP OPEN ,LOW ARE SAME AND HIGHER THAN PREVIOUS CLOSE {REMEMBER MUST BE HIGHER THAN PREVIOUS CLOSE} , THEN DON'T SHORT THAT SCRIP WHERE AS IN OTHER WORDS , YOU CAN TRY LONG IN THAT COUNTER

&

WHEN A INDEX OR SCRIP OPEN,HIGH ARE SAME AND LOWER THAN PREVIOUS CLOSE {REMEMBER MUST BE LOWER THAN PREVIOUS CLOSE} THEN DON'T GO LONG IN THAT SCRIP WHERE AS IN OTHER WORDS , YOU CAN TRY SHORT IN THAT COUNTER

DISCLOSURE:- THIS IS MY PRACTICAL OBSERVATION IN MY TRADING JOURNEY AND I PUT THIS AS A THEORY FOR MY OWN TRADES , THIS IS NOT ANY ONE'S , OR NOT WRITTEN IN ANY TECHNICAL BOOKS
SOME COPY CATS COPYING THIS
TOTAL SENTENCE TO THEIR BLOGS OR WEBSITES

SO, IT IS YOUR RISK IF U DO ACTIONS ON THIS THEORY

Sunday, January 5, 2014

MCX GOLD WEEKLY VIEW FOR THE WEEK 6.1.14 - 10.1.14



Outlook for GOLD for next week: -
 


Major Trend indicators: - MACD & TRIX broken zero line, ADX @ 19.31 {below 20}, Parabolic SAR @ 28093.4, check the chart
  




Momentum oscillators: - RSI @ 50.82, STOC @ 35.79 & WILLIAMS%R @ -16.36 {trending zone}, Check the chart
 





Volume Indicators: - MFI @ 30.81, Volume oscillator @-1.39, NVI @ 337.94 which is below to avg 338.31 & PVI @ 150.23 which is above avg 148.33 check the chart
  





Volatility Indicators: - ATR @ 419.33 & Gold Heading towards upper band is @ 29589.9 & middle band @ 28814.9 {Gold cmp 29159}, check the chart
 





Negative & Positive outs puts: - Gold {panic 28720} cmp 29159 which is above 20 ema @ 28925.59 but below 50 ema @ 29366.93, 100 ema @ 29461.41 & 200 ema @ 29317.21.
  





Conclusion: - Above 28825.33 {cmp 29159} it will find resistance @ 29575.67 for next week, once it crossed next rise to 29992.33 - 30742.67
Whereas Below 28825.33 it will find support @ 28408.67, if it breaks on closing basis, next 27658.33 - 27241.67 for next week
Overall trend turned bullish in Daily charts from 2.1.14 and Accumulation happening in weekly charts, but bearish from 6.12.13


thanks,
regards,
Rajesh Saladi 
NSE certified Technical Analyst


 

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