Today's Calls & Views 1-Sep-2015

11:15 AM IST

CMP 47.80
Support: 47.21
Resistance: 49.34

1. As long as 49.34 resists, I expect to see big fall, targetting min 47,  46.01, 44.34, 41.89.

2.If crude supported by 47.21, I expect to see 48.01 again and 48.30-48.89.[invalid 1:39 PM IST]

3. If crude resisted by 48.01, I expect to see 47.45, support 47.23.


Trade Ideas:

1. Buy crude at cmp or between 47.5-47.3, or above 48.05 Targets: 48, 48.30, 48.50, 48.83. SL 47.19

2. Sell Crude between 48.3-48.48.90 or below 47.19, SL 49.37, Targets: 47.21, 46.01, 44.34, 41.89.

3. Sell Crude at cmp with max sl 48.07, for 47.65, 47.34.

1:41 PM IST
Crude can move up from here, but as per my analysis, sl 47.19 hit.
NOW,
Call 2 and 3 are valid.
CALL 3 TARGET DONE.

1:46 PM IST:
Down side 1st target 46.35, cmp 47.25, NOW, SL max 48.05 for any SELL STRICT.


4:12 PM IST
SELL CRUDE AT CMP 48.34, SL 49.37, TGTs: 47.21, 46.01, 44.34, 41.89. FIXED.

ALTERNATE VIEW:
BUY CRUDE ABOVE 49.37 FOR 50/55/61$.



Thanks,
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ALL THE BEST.