MCX GOLD Tips 1 Kg - Facing strong fibonacci retracement and moving average resistance at current levels. (10th July 2014, Thursday).

• MCX GOLD 1 KG is facing strong fibonacci retracement (61.8% golden ratio) resistance at current levels, stock holds this level from last few days, Gold will favor bull once it closes above and must stays above its resistance, till then gold can come down.
• Daily chart also indicates that stock also facing strong 50 days moving average resistance at current levels. Once starts trading above 50 DMA only then GOLD will favor bulls.
• Weekly chart indicates stock is facing strong 23.6% fibonacci retracement and 10 days moving average resistance at current levels. Closing above that in weekly chart will take gold further up. Close Watch.

Tips On Gold - US Gold facing strong resistance at current levels, trend not clear. (Updated on 09th July 2014 , Wednesday).

• US GOLD facing strong trend line resistance in daily chart between 1320 -1331, Gold will favor bulls once it closes above its trend line resistance till then trend is not clear and can see selling from resistance.
• (Short term trend) - Weekly chart indicates short term trend is not clear upper side will face resistance around 1370, 1395 & 1440. On down side will find support around 1180.
• (Long term trend) - Monthly chart indicates stock to favor bulls once stock starts trading above 20 months moving average. Till then will favor bears.

BANK NIFTY TRADING TIPS - Stuck in a range and facing strong resistance at current levels. (Updated On 11th July 2014, Friday).

• BANK NIFTY FUTURE hourly chart indicates that it is stuck in a range of 15800 - 14650, once it come out of its range with volumes then sharp move is expecting till then intraday trend will be mix for bank nifty. Hourly chart also indicates that bank nifty is trading below 200 hours moving average, that will favor bears.
• Daily chart of bank nifty indicates  that if BANK NIFTY falls from current levels then will find strong 23.6%  fibonacci retracement support around 14400.
• (Short term trend) - Weekly chart indicates that bank nifty facing strong trend line resistance and too facing 261.8%  fibonacci retracement (nearby). If breaks its support in daily and hourly chart then we can see some selling in bank index.
• (Long term trend) - Monthly chart indicates that after making a bullish breakout index is on up move and will find  its 161.8%  fibonacci retracement around 16500 in long run. (as shown above).

CNX PHARMA INDEX Technical Analysis Chart - Index has entered in overbought zone, sign for caution. (Updated On 21st July 2014, Monday).

CNX PHARMA INDEX

• CNX PHARMA INDEX is now trading in overbought zone in daily chart, its a sign for caution which indicates index can correct, careful on resistance zone.
• Weekly chart indicates pharma index in moving in a up channel formation, and now facing resistance at current level.
• Monthly chart indicates stock is now trading around 423.6% fibonacci retracement , closing above this resistance in monthly chart will indicates further up trend. If fails then index can correct.