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Nifty ended near support . Will it hold in the coming week ?

August 24, 2015

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UnknownSeptember 23, 2015 at 9:14 AM
Nifty posted a low of 7,539 ( Bounced from 50% Level i.e 7,528)
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Infosys_ Approaching crucial support zone of 2900-2800

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Century Textiles : Bullish Bias in Medium-term

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On analyzing the performance of gold for an extended period, we found that the metal is hovering near the support levels. Gold peaked at around USD 1,920 in 2011. In 2012, the metal failed to post a new high. However, it managed to hold above the low of 2011. Eventually, gold breached the low of 2012 (1,527) and thereafter declined. The metal found support near the 38.2% retracement level. Since then, it has been consolidating. Currently, there is a lack of clear direction. Gold is still in bearish mode on an extended timeframe. On the monthly charts, momentum oscillators are hovering in the negative territory. In the long term, the metal could find support at 1,190. If the metal closes below the mentioned level, it would lead to further decline. Considering the extended timeframe, we believe gold could continue to consolidate in the near term. A clear breakout would determine the direction of the yellow metal in the coming months. As evident from the weekly charts, gold...

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Nifty ended near support . Will it hold in the coming week ?

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