Nifty technicals 17th february

Hi friends,
                   According to my old post on nifty,I expected bounce back as long
as nifty held 5965 ,The nifty fell till 5984 and reversed.
Lets look at the present structure of nifty.

From the chart we can
see that the nifty has retraced
till the trendline resistance
If we trade above 6060
we have potential to go
towards 6100+ ,If we fail
to cross 6060 tomorrow
we should remain sideways
in the range 6060 to 6000.
Lets see how nifty performs


Tomorrow .

Regards
Rish

Mcdonalds Trade setup

Looking at the Mcdonald Technical chart ,It looks like it has finished a triple zigzag
correction and has reversed to touch higher levels.
Lets look at the chart.

 Ideal trade would be
to buy some now and
rest in dips stoploss
a tad below 93,
respective targetswould
be 97 and 99 .
Lets see how Mcdonalds
moves next week




Regards
Rish

Trade ideas we discussed

Hi Friends,
                    Lets see how the Trade ideas we discussed have done this week.
1)ONGC ,The trade idea was ONGC long for a target of 283 .
     Stock did 283 and retraced back.

2)Ultratech, The trade idea was ULTRATECH Short ,The trade was active
    below 1700 and it has already done 1650 ,Continue to hold this short for
    1600 with trail stoploss at short price.

3)Dr Reddy,The trade idea was Dr Reddy Long,The stock was expected to
   touch 2700 ,It exactly touched 2700 and reversed from there.

So over all all stocks moved in expected direction ,Apart from this ,I had
given two commodity trade ideas on Gold and Silver.
Both were expected to breakout towards upside ,They brokeout and ran up.
Gold long and Silver long. Gold took less time to run up but silver took
some time to find its way upward.

Silver Breaks out

Hi friends,
                  I had posted about coming rise in silver ,Though it took some time
to comeout of range eventually it has come out of it.
Look for the old post here Silver chart.
Lets look at the chart now and see how things have changed.

From the chart we see that
silver has done the minimum
target of 21.50$.Now the
next targets come at 23 and
25$.
Which should come in coming
weeks,Any one who took
position on my recommendation
should trail position with buy

As trail price ,And wait for 23$ and eventually 25$.

Regards
Rish