Twitter (TWTR) Weekly Trading Levels for WS 10th March

Twitter has been under pressure the whole of last week as indicated in my previous post. Twitter has formed a classic Bearish Descending triangle pattern on the daily chart. Friday’s move could be a sign of things to come this week.

On the downside we can look at $50 where some sort of buying support can come in. On the upside a break above the Triangle can take to level of $59.50.

Overall tone for the week ahead looks to be Bearish.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Following are the Trading levels for WS 10th March.

Buy above 54.20 Tgt 1 – 55.45, Tgt 2 – 57.35, Tgt 3 – 58.60

Sell below 54.20 Tgt 1 – 52.25, Tgt 2 – 51, Tgt 3 – 49

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Facebook (FB) Weekly trading levels for WS 10th March

This last week, FB tried yet another unsuccessful attempt to breach it’s high. I had mentioned in last week’s post, that FB will try and get close to it’s high and look at closing above it. Clearly some selling pressure is seen at that level.

The Weekly charts does not really show any reversal pattern developing. It looks like a continuation of the existing uptrend.  On the downside FB can touch it’s 20 DMA around $68 where buying is expected to kick in.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Following are the Trading levels for WS 10th March

Buy above 69.40 Tgt 1 – 72.35, Tgt 2 – 75, Tgt 3 – 77.80

Sell below 69.40 Tgt 1 – 66.90, Tgt 2 – 64, Tgt 3 – 61.40

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Gold Weekly Analysis for WS 10th March

With the easing of the Ukraine tension, Gold has cooled off a bit. Some level of profit booking is also seen. Bear in mind though, that the Ukraine crisis is far from over. Another strong move by the Russians and we could see Gold trying to breach $1360 levels.

I have maintained in my previous posts as well that Gold needs to have a strong close above $1360 for it to have the traction to go past $1400 levels. Till such time, I think it will keep playing hide and seek. I do not see the Ukraine tension going off in a hurry so Gold traders will always feel they would have a chance of Gold going up in the short term at least.

The daily chart shows a possible Cup and Handle formation could take place which would be Bullish for Gold. On the Downside, $1300 – $1310 levels would provide good support.

Overall, Gold looks to be under some pressure for this week but mind you, with the Ukraine Crisis still looming large, that can change anytime.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Gold trading levels for this week are as follows

Buy Above 1335 Tgt 1 – 1341, Tgt 2 – 1348, Tgt 3 – 1355

Sell Below 1335 Tgt 1 – 1328, Tgt 2 – 1321, Tgt 3 – 1314

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Bank Nifty Weekly Analysis for WS 10th March

I have decided to include Bank Nifty as well in my Weekly analysis from now on. So here goes…

Bank Nifty has taken a cue from Nifty last week and made a nice up move from 10600 odd levels. It has managed to close above a key level of 11735. Next target would be 12225 where I suspect it would face strong resistance. Positional traders can look at partial profit booking at this level. I for one, would be looking at any Bearish reversal patterns that might develop at this level.

If Bank Nifty does manage to cross this hurdle, it can try to march towards it’s all time high of 13414. I suspect the PSU banks have to come to the party big time for that to happen. The up move till now has been primarily based on the strength shown by the Private Banks.

On the downside, 11170 can provide some support. Look for Bullish reversal patterns around this level.

The Daily and Weekly charts are quite bullish for Bank Nifty for this week.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Bank Nifty trading levels for this week are as follows

Buy Above 11482 Tgt 1 – 12350, Tgt 2 – 12816, Tgt 3 – 13685

Sell Below 11482 Tgt 1 – 11016, Tgt 2 – 10147, Tgt 3 – 9682

Note: All levels are for Bank Nifty Spot. Kindly adjust the same for Futures.

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Nifty Weekly Analysis for WS 10th March

The past week saw Nifty scaling new highs with a lot of experts terming it as a Pre Election rally. The market is closely watching the political developments and every pre election poll shows the NDA getting closer to the magic figure of 272. That is certainly boosting sentiments. The IT and Pharma space is seeing some profit booking happen. Imagine where the Nifty can go to if they too join the party.

The thrust on last Friday has come on good volumes backed by FII buying which is the key point here. Nifty has convincingly cleared a major roadblock at 6355 which it had failed to do so the last 4 times. 5th time lucky I guess. Move towards 6589 and beyond cannot be ruled out. On the lower end 6355 will provide good support level. If it holds and bounces up we can see higher levels in Nifty.

The Daily and Weekly charts are looking very Bullish for Nifty.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Nifty trading levels for this week are as follows

Buy Above 6426 Tgt 1 – 6640, Tgt 2 – 6750, Tgt 3 – 6965

Sell Below 6426 Tgt 1 – 6313, Tgt 2 – 6100, Tgt 3 – 5990

Note: All levels are for Nifty Spot. Kindly adjust the same for Futures.

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Facebook (FB) Weekly Trading levels for WS 3rd March

FB, this past week, has seen some profit booking. The last week closed at the Bull trend line as seen in the chart. FB has formed a Gravestone Doji like pattern on the weekly chart.

On the downside, can take support on the Upper channel line. Break below that will take FB back in the Trading channel. Some support could then be seen at the 50 DMA around $60.

Upside, we cannot rule out another dash at the lifetime high at $71.44.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Following are the Trading levels for WS 3rd March

Buy above 69 Tgt 1 – 70.80, Tgt 2 – 73.15, Tgt 3 – 74.90

Sell below 69 Tgt 1 – 66.75, Tgt 2 – 65, Tgt 3 – 62.70

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!