Market updates for January 18, 2012

Do u remember what I mentioned on 11 January on this blog?

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As mentioned Gold US made a high of $1639.75.

Nifty also display the splendid move and tried to test our ultimate resistance of 4872.

Here onwards, Nifty seems to test 5000 mark within two weeks.

Also as mentioned McDowell displayed good upside momentum today. One can hold the stock with the stoploss of 515 now for a target of 600 within a week.

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This is what my posting was on 11 January.

What happened on 11th January?

INRUSD made a high of 54.30 on 15th December.


The following sessions there on confirmed the top of the currency for mid term.


On 10th January, the downwards slope was confirmed.


I have been always saying that never ignore the momentum in Currency.


Be it Gold or Guar, Nifty or Sensex ultimately the impact would be seen.


I will not be surprised if Nifty touches 5170 till the expiry of January Derivatives series on NSE.

The outlook for 18th January




Nifty has displayed strong upside for a week.


The RSI is above 70.


So, tomorrow, a gap-up opening is most probable.

Tomorrow, I recommend to sell Nifty Future at 5032 - 38 range.


On higher side, Nifty Future can touch 5062 - 65 also.


But, One can hold the position for a target of 4976 & 4923.






Today morning, I initiated a buy on Silver at 52550 for a target of 53400.

As of now, Silver made a high of 53874.




Now, I will post the updates on 23rd January, Monday.


Until, wish you happy trading.

Sheetalpuri Goswami

e-mail: goswamisheetalpuri5@gmail.com

M: +919879028295

C: 079-40328915