FUTURE PREMIUM SEGMENT
TOTAL NO. OF CALLS- 11
ACCURACY- 100 %
TOTAL PROFIT- RS. 7,75,053/-
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Glenmark Pharma receives ANDA approval: Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Azelaic Acid Gel, 15%, a generic version of Finacea Gel, 15%, of Leo Pharma A/S.
The Sensex is down 232.98 points at 35541.90, while Nifty is down 81.40 points at 10,682. About 826 shares have advanced, 1505 shares declined, and 129 shares are unchanged.
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www.capitalheight.com/freetrial.php
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INTERNATIONAL MARKET UPDATE
GOLD $ 1289.28
SILVER $ 17.06
COPPER $ 3.04
CRUDE $ 49.64
INR 65.27
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Bullions View
On Friday, we saw a rally in Bullions post payroll data where gold breached its previous intermediate high of 29,500 while silver broke 39,300 levels suggesting the first sign of a positive reversal in prices. The momentum indicator, RSI has moved above 60 levels on hourly charts, which also gives positive confirmation to the prices. We now expect bullions to rally as long as Friday’s low are protected on downside. Gold can head higher towards 29,700 while silver can move higher towards 40,000 levels in coming trading sessions, however; we might see a range bound trading session in today’s trade due to a bank holiday in the United States.
Energy View
Crude oil prices moved lower in Friday’s session however it had managed to give close above its support level of 3,235 levels. As long as 3,235 is protected on downside outlook remains positive for an upside target of 3,300 levels while breach of 3,235 can drift prices lower towards 3,165 mark. Natural gas had broken its support level of 190 along with RSI which is below 40 mark. We now expect rally can be used as selling opportunity.
Base Metals View
Metal prices remained volatile in Friday’s session where lead and zinc gave a negative close by more than 1.5% while nickel managed to give a positive close. Zinc had broken its uptrend line support at 215.50 while lead is still trading above its support of 163.80 levels. Aluminium prices are facing problems breaching its resistance of 140.50 levels hence it would be crucial to watch out for that level to break for gaining upside momentum.
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