Is Rupee forming Bump and Run Reversal??

September 18, 2018

EURUSD techinical Outlook: Break of 1.1750 can take it to 1.2050

EURUSD has been consolidating between 1.1530-1.1720 levels since August and as seen on the chart an Inverted head and Shoulder formation could be seen with neckline resistance at 1.1750

September 18, 2018

USD/INR-71.80 Target Met , Mid term correction to 70.50 possible

We met our target of 71.80 by first week of September much ahead of our November Target. So far we have been consistently advising on the rupee weakness from the time rupee has breached 64.50 levels. It’s been a one side move for Rupee from 63.60 levels to recent all-time high of 72.91, a staggering 14% depreciation so far.

August 18, 2018

USD/INR-69.70 target met , revised target 71.80 by Mid November

We met our target in Rupee to test 69.70 by August. Transcript of our last mail is pasted below for new readers. Scroll down to read earlier views.

August 09, 2018

GBP Outlook: 1.2850 target met, correction possible

In line with our earlier view sent on 2nd August ahead of the BOE meeting , we met our target of GBP of 1.2830-1.2850 levels which was supported by the channel support line as seen on the chart.

Nitesh Sharma
August 02, 2018

BOE( Bank of England ) Monetary policy review and GBP outlook

The Bank of England’s eagerly-anticipated monetary policy announcement is due today.

Nitesh Sharma
July 23, 2018

USDJPY medium term outlook: Target 118.50

As seen on the weekly USDJPY chart , the pair resumed its uptrend after breaking 111 trend line resistance which has held well for last 3 years.

Nitesh Sharma
July 23, 2018

Rupee uptrend intact till 69.70

It’s my third mail on the rupee pair , first sent on 15th march where we forecasted for 66.50 when spot was 65, then in May where we forecasted for 68.50 when spot was 67.60 and now in July we raise our forecast to 69.50-69.70 by August-September before a likely reversal( New readers may scroll below to read previous forecast).

Nitesh Sharma
July 09, 2018

Commodity Technical Outlook: Copper/Lead/Zinc

Copper has fallen more than 12% in just couple of weeks. As seen on the chart support at 425-427 is quite strong and it’s expected to hold in the near term with chances of bounce back from here till 448-453 levels from where we would expect the selling to resume again for a deeper fall.

Nitesh Sharma
June 18, 2018

EUR/USD Plunges on Dovish ECB

Last week has been quite an eventful week for the currencies.First we had the Euro in its free fall after ECB and chief Draghi’s remarks on post policy meeting press conference and secondly the ongoing trade war between the US and China dominated the news headlines sidelining important FED FOMC meet .

Nitesh Sharma
June 02, 2018

NIFTY Forecast- Target 9800 by September 2018

In continuation to our last NIFTY outlook sent on April 7 , Nifty made a bounce back to 10929 levels as a corrective rally and a follow through fall is what we are expecting from coming months inspite of robust Jan –march GDP quarterly and some good corporate results.

Nitesh Sharma
May 18, 2018

USDINR Outlook uptrend to 68.20

Refer to our HI outlook on USDINR where we had forecasted for a weaker rupee in HI. The movement has been quicker than we expected and rupee has been trading now at 67.80.

Nitesh Sharma
May 16, 2018

Lead to target 172 in coming months

As we can see on the below mentioned daily chart Lead futures were holding the price between 150 to 157 mark for some time and the movement was restricted within the rectangle pattern as seen on the chart.

Nitesh Sharma
Apr 07, 2018

NIFTY set to decline to 9075 in FY 18-19

Correction from January 2018 in Nifty should not have been a surprise to anybody if anyone was following the long term channel set from 2009 when NIFTY was at 2300 and it rallied to 11171 in January 2018.

Nitesh Sharma
Mar 15, 2018

Rupee Outlook H1 2018

While Indian rupee ended 2017 on high appreciating from 67.95 to 63.55 which reversed 6 years of consecutive years of fall but so far in 2018 rupee saw a depreciation of closer to 3% in this quarter to trade near 65 now.

Nitesh Sharma
Mar 07, 2018

Silver to shine again outforming all metals-1 year target at Rs 48000 per KG

Silver over last many years has lost its shine and has been gradually losing its value from more than 73600 in 2011 to today around 39000 today .It has lost its shine against gold as well.

Nitesh Sharma
Jan 22, 2018

Nickel Long term Outlook

Nickel is a high-luster, silver-white metal whose valuable applications have made it a significant and widely used material in the world today. Once extracted, nickel is primarily used as a refined metal, with two-thirds of global output being put towards the production of stainless steel.

Nitesh Sharma
Feb 26, 2018

Mentha Outlook: Brief rally to 1420 expected this week

In our last outlook we were looking for upside momentum in mentha price to pick up till the time 1480 support was intact which was a trend line support.

Nitesh Sharma
Feb 07, 2018

Sell MCX crude at 4110 with SL at 4140 and TP at 4020

Crude is trading in a downward sloping channel as seen on the chart with lower high and higher low and its expected to touch 4020 in couple of days till the time 4135 on the upside is intact.Sell MCX crude at 4110 with SL at 4140 and TP at 4020

Nitesh Sharma
Feb 03, 2018

Nickel Outlook-Some consolidation between 825-925 for next few weeks.

In continuation to our last mail on Nickel long term outlook, Nickel prices had a good run up last week and infact all the commodities with global dollar weakness.

Nitesh Sharma
Feb 03, 2018

USD/INR outlook-Range shift to 63.70-64.60 for this month

USDINR posted its biggest weekly decline in 12 weeks against the dollar, as domestic sentiment took a beating following the next fiscal year’s federal budget that was announced on Thursday.

Nitesh Sharma
Jan 20, 2018

Zinc MCX -Moving in a channel, support at 217

In continuation of our last zinc outlook , prices broke past 208 crucial resistance and immediately met our target of 215 levels as seen on the chart.

Nitesh Sharma
Dec 21, 2017

Zinc MCX -Consolidating in downward Wedge Formation

In line with our previous report , selling pressure has been revived around 206 levels in Zinc MCX.

Nitesh Sharma
Dec 06, 2017

USD/INR outlook-Bounce back to 64.80 levels in next couple of weeks and consolidation

It was a welcome surprise for everyone when Moody raised India's sovereign rating to Baa2 from Baa3 -- the lowest investment grade.

Nitesh Sharma
Dec 06, 2017

Zinc LME- Enters bearish outlook in near term

In our previous mail we had hinted for a breakout in zinc prices ( new reader may scroll down) and as expected it broken out of 3100-3200 mark .

Nitesh Sharma
Nov 21, 2017

Zinc LME- Looks to break out of 1.3100-1.3185 region in next few days

In line with our expectation the Zinc LME future prices bounced back from 1.31 levels and consolidated for this week between 1.3100-1.3200( made a high of 1.3187 this week) something which we shared in earlier mail.

Nitesh Sharma
Nov 16, 2017

Zinc LME- Channel support line hold LME future price at 3100

A slowdown in the world’s biggest consumer of most commodities is reviving fears over a glut in raw materials which lead to fall in all the prices of commodity on Monday and Tuesday.

Nitesh Sharma
Nov 14, 2017

USD/INR outlook-Look to test 65.75-65.85 again by coming week

A slowdown in the world’s biggest consumer of most commodities is reviving fears over a glut in raw materials which lead to fall in all the prices of commodity on Monday and Tuesday.

Nitesh Sharma
Oct 26, 2017

USD/INR outlook-Testing crucial support 64.65-64.70, expected to bounce back again

Rupee continues to consolidate between the broader range of 64.75-65.75 levels in line with what we had shared at the end of our September end rupee outlook.

Nitesh Sharma
Oct 26, 2017

Zinc LME- Testing crucial resistance of 3230-3250 mark

As seen on the chart Zinc future prices tested crucial resistance levels of 3230-3260 levels today and it’s expected to hold at this level to confirm some more consolidation can be seen between 3030-3260 levels else a break of 3260 will be needed to confirm the trend is still up.

Nitesh Sharma
Oct 06, 2017

Mentha Oil Outlook- Break of 1205-1210 opens door for 1240-1280 region

Nitesh Sharma
Sept 29, 2017

Mentha Oil Outlook- Retest of 1200 likely

We exited short built around 1185 to book profit at 1145 and entered long position again at 1160 levels for a target of 1195 levels to be expected in next few days.

Nitesh Sharma
Sept 29, 2017

Zinc LME- Upside momemtum have built up for 3200-3225

We exited short built around 1185 to book profit at 1145 and entered long position again at 1160 levels for a target of 1195 levels to be expected in next few days.

Nitesh Sharma
Sept 29, 2017

USD/INR outlook-Time for some consolidation in the near term

IN government came to respite in favour of Rupee , after Subhash Garg, the economic affairs secretary yesterday clarified after the market hours that the government will stick to its budgeted fiscal borrowing.

Nitesh Sharma
Sept 26, 2017

USD/INR outlook-64.70 target met

In our last rupee outlook sent during first week of September ( scroll down to read previous report),we had warned our readers and clients from weakness coming in the rupee with potential target of 64.65-64.70 mark against which we already saw a high of 64.78 today and now trading at 64.65 courtesy to RBI, strong intervention seen at 64.78-64.82.

Nitesh Sharma
Sept 25, 2017

Dollar Index- Dollar to recover in coming weeks towards 94

Dollar was supposed to be a star performer last week after the more hawkish than expected FOMC announcements.

Nitesh Sharma
Sept 21, 2017

Euro under Head and Shoulder formation-Likely short term reversal in place?

Dollar was supposed to be a star performer last week after the more hawkish than expected FOMC announcements.

Nitesh Sharma
Sept 21, 2017

Mentha Oil Outlook- Breaks out of consolidation of 1185-1205...good correction can been seen towards 1042 level first

In continuation of our previous mail on mentha, it was tightly consolidating on a upward sloping wedge formation between lower lows and lower highs and as we have been advising our clients to be careful on any breakout of either side of 1185 on downside or 1210 on the upside , it will be followed by a sharper volatility.

Nitesh Sharma
Sept 18, 2017

Zinc LME Outlook: 2970-2990 target met, bounced back from our support/buy zone

Quite precisely Zinc prices bounced back from our critical support zone of 2970-2990 levels( marked in yellow in previous chart).

Nitesh Sharma
Sept 11, 2017

Zinc LME Outlook: Consolidation time before resuming the uptrend

In our last report sent in June for the zinc outlook we has shared how zinc has bottomed out between 156-160 and 165 is broken the first target will be 175 followed by 190 and then 200 which we have repeatedly shared with our clients ( new readers may scroll down to read) .

Nitesh Sharma
Sept 07, 2017

Mentha Oil- Buy for first target of 1205..on break of 1205 target revised to 1245

In our last mail while we said that temperory top has been formed at 1230 and correction can be seen towards 1080 levels however as per the chart formation stiff support is seen around 1155-1165 levels which has been holding for last few sessions hence it will not a surprise to see mentha prices testing 1205 again in a day or two .

Nitesh Sharma
Sept 02, 2017

USD/INR outlook-Rupee set to weaken in coming weeks, first target 64.20

Nitesh Sharma
Aug 28, 2017

Mentha Oil- Short term top seen at 1230.Can slip to 1080 levels in coming weeks

Previous month we saw mentha prices surging from 870 ahead of our target of 860 (which we shared in our previous mail) ,to make a high of 1236 in just one month.

Nitesh Sharma
Aug 28, 2017

USD/INR outlook-Selling pressure to intensify between 63.95-64.05 levels

The hammer formation in USD/INR worked out really well where a short reversal/correction in the pair was seen towards 64.32, again within our 4-5 weeks range of 64.35-63.65 levels ( new readers may scroll down to read previous view).

Nitesh Sharma
Aug 04, 2017

USD/INR outlook-Short term range shifted to 63.35-63.95

Rupee finally broke through the key psychological level and previous low of 63.95- 64 after spending a good four months in the 64-65 range. While RBI intervened strongly at intervals to squeeze additional liquidity but eventually gave up to help rupee find his own levels.

Nitesh Sharma
Aug 04, 2017

NFP Preview: Could US Jobs Data Finally Spark a Dollar Rebound

The US dollar has clearly been heavily pressured throughout most of this year, and the pressure has shown very few signs of relenting. The sharp downward trend that has developed through the first seven months of the year has partly been driven by a cumulative realization that the Trump Administration's pro-growth promises may not be as readily achieved as previously thought. Other related drivers of dollar weakness have been persistently weak inflation and lackluster economic data that have led to an increasingly hesitant Federal Reserve, which has recently begun to suppress expectations of many more interest rate hikes going forward.

Nitesh Sharma
July 04, 2017

NFP Preview: Could US Jobs Data Finally Spark a Dollar Rebound

Nitesh Sharma
July 03, 2017

Cotton MCX prices-Test of crucial resistance of 20500-20600 possibile before sliding

We got stopped out in our last cotton position at 19850 however as shared in trail mail the cotton prices made a low of 19462 on a break of 19850 and reversed from there as we mentioned earlier that it will look to rebound from 19500-19600 levels even if 19850 breaks.

Nitesh Sharma
June 21, 2017

Cotton MCX prices: 20000 target met, profit booked

Early last week we advised to sell cotton at 20600-20700 levels for a target of 20000 ( new reader may scroll down to read previous report).We met our target on 15th june and booked our profit.

Nitesh Sharma
June 12, 2017

Cotton MCX prices: Expected to break out to 20000..crucial support holding

Early last week we advised to sell cotton at 20600-20700 levels for a target of 20000 ( new reader may scroll down to read previous report).We met our target on 15th june and booked our profit.

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