Weekly outlook - 21/12/14

Gold - On weekly chart, Momentum is strong, all the indicators are giving buy signal.
Immediate resistance = $1242. Target - $1975- $1305. support - $1195

http://www.investing.com/technical/commodities-indicators

Gold

Symbol	Value	Action
RSI(14)	48.439	Neutral
STOCH(9,6)	67.321	Buy
STOCHRSI(14)	61.289	Buy
MACD(12,26)	1.520	Buy
ADX(14)	21.474	Neutral
Williams %R	-37.008	Buy

Name	Value	Action
CCI(14)	-32.2176	Neutral
ATR(14)	3.5714	Less Volatility
Highs/Lows(14)	0.0000	Neutral
Ultimate Oscillator	60.336	Buy
ROC	0.188	Buy
Bull/Bear Power(13)	-1.8040	Sell

Buy: 6

Sell: 1

Neutral: 4

Indicators Summary: Strong Buy

Crude - The price is set to move downwards, current support is at $51 i.e. 78% retrace from high of 2011 at $111. prices are in oversold region. TP = $51. SL = $64.

Crude Oil

Time: 12/12 GMT

Symbol	Value	Action
RSI(14)	21.451	Oversold
STOCH(9,6)	31.019	Sell
STOCHRSI(14)	22.097	Oversold
MACD(12,26)	-1.350	Sell
ADX(14)	73.138	Oversold
Williams %R	-99.383	Oversold

Name	Value	Action
CCI(14)	-201.6324	Oversold
ATR(14)	3.1536	High Volatility
Highs/Lows(14)	-6.2907	Sell
Ultimate Oscillator	27.719	Oversold
ROC	-22.025	Sell
Bull/Bear Power(13)	-11.9860	Sell

Buy: 0

Sell: 5

Neutral: 6

Indicators Summary: SELL

Comments

Persistent Systems

Persistent Systems :- The stock has been making upmoves with consolidation at each stage. This indicates the strength of the stock. The stock should be accumulated at these levels for higher targets in coming months. This is long term stock and with strong fundamentals. It has good %age holding across foreign and inhouse funds. SL - 900 , TP - 1200, CMP - 973 (2 Months)

Hexaware Technologies

Hexaware Technologies - (Buy) SL 130, TP - 160, CMP - 135. This is one stock which is trading at low valuation as compared to its peers. PE is 11.9 as compared to 15+ to rest of its peers. I am betting big time on this stock because of 2 reasons:- 1) Low valuation 2) The stock is in SCIF ETF fund (US). SCIF fund is beginning to show up-move and Hexaware is one of the top holdings in the portfolio. And as the risk aversion in US equity kicks in, Hexaware is gonna be the black horse. Also do check out persistent systems. 17/1/2013 : - All Profits should be booked at current levels. The trade is closed as of now.

Nifty Trend - 5/1/14 - 12/1/14

Market Analysis - technical view. Nifty and Bank Nifty charts indicate there is ngeativity in the market. BN should contribute the most in the downfall. Though Nifty has taken support at lower trendline, however this should be broken as soon as BN breaches 11000 levels. Oil & Gas may show some respite but BN should eventually drag the markets down. Target:- BN (SELL) - SL - 11326, Tp - 10890, CMP-11181. Nifty (Sell) - if closes below 6150 for targets of 6030. Bank Nifty Nifty Market Analysis - Short term view. The week saw a sudden surge in volatility as well collapse of the same. However, be cautious as the volatility is above the MVA-10. Gold is nicely poised at 1235 breaking the resistance of 1225. Silver after showing good gains overnight is building the base. USD INR making a comeback to 62.24 levels. Crude and Brent Crude show sharp downfalls. However, the contra trade is dollar index which is trading from 0.5% - 1% gai...

Nifty Predictive Analysis

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