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Monday, December 5, 2011

GARGUM / GARSEED TREND , LEVEL & TRADING STRATEGY FOR THE WEEK : 05/12/2011

GARGUM

BEST BUY & SUPP @ 16142 ACTUAL RESIS & BEST SHORT LEVEL 16688 A BREAK ABOVE 16886 UPSIDE TGT 18472/18998 ; HOWEVER A CRACK BELOW 15665 DOWNSIDE TGT IS 14378/13832

GARSEED

BEST BUY & SUPP @ 5149 ACTUAL RESIS & BEST SHORT LEVEL 5290 A BREAK ABOVE 5445 UPSIDE TGT 5746/5889; HOWEVER A CRACK BELOW 4982 DOWNSIDE TGT IS 4692/4552

Daily trend

is above the support channel , but tht doesn’t mean it has still more steam left for further upside … rather there will be some bullish streak momentum but end of the day traders should keep in mind the weekly trend .

Weekly trend

After a strong rally previous week , we may witness some profit booking to happen here…The CCI has already given a clear indication of downside , Slow Sco facing resistance , so that may also put some downwards pressure in the mid week

Trading strategy

 Though the COMMODITY CHANNEL INDEX Has initiated a sell..Its better for traders to wait , watch & then make use of a rise to build sell positions accordingly

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