Gold and silver have been all over the financial news. On Thursday, June 20, silver fell below $20 (-60% from 2011 high), and gold fell below $1300 (-30% from 2011 high). The chart below shows EWI's forecasts not only leading up to the recent volatility ... but during the past three years of opportunity. Read more.
Sunday, 30 June 2013
Friday, 28 June 2013
United Spirits- Looking weak........
Previous close 2222.
This counter will crash to 2120 in no time........
Any rise, Sell July futures for this counter accordingly................
Thursday, 27 June 2013
Stock Market and the monkey business..............
Once upon a time in a village, a man announced to
the villagers that he would buy monkeys for Rs 10. The
villagers, seeing that there were many monkeys around,went out to the forest and started catching
them..
The man bought thousands at Rs 10 and as supply started
to diminish, the villagers stopped their effort.
He further announced that he would now buy at
Rs20. This renewed the efforts of the villagers and
they started catching monkeys again.
Soon the supply diminished even further and people started
going back to their farms.
The offer rate increased to Rs 25 and the supply of
monkeys became so little that it was an effort to even
see a monkey, let alone catch it!
The man now announced that he would buy monkeys at Rs
50!
However, since he had to go to the city on some business,
his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the
villagers. Look at all these monkeys in the big cage that the
man has collected. I will sell them to you at Rs
35 and when the man returns from the city, you can
sell it to him for Rs 50.
" The villagers squeezed up with all their savings and bought
all the monkeys.
Then they never saw the man nor his assistant, only
monkeys everywhere!
Welcome to the 'Stock Market'
the villagers that he would buy monkeys for Rs 10. The
villagers, seeing that there were many monkeys around,went out to the forest and started catching
them..
The man bought thousands at Rs 10 and as supply started
to diminish, the villagers stopped their effort.
He further announced that he would now buy at
Rs20. This renewed the efforts of the villagers and
they started catching monkeys again.
Soon the supply diminished even further and people started
going back to their farms.
The offer rate increased to Rs 25 and the supply of
monkeys became so little that it was an effort to even
see a monkey, let alone catch it!
The man now announced that he would buy monkeys at Rs
50!
However, since he had to go to the city on some business,
his assistant would now buy on behalf of him.
In the absence of the man, the assistant told the
villagers. Look at all these monkeys in the big cage that the
man has collected. I will sell them to you at Rs
35 and when the man returns from the city, you can
sell it to him for Rs 50.
" The villagers squeezed up with all their savings and bought
all the monkeys.
Then they never saw the man nor his assistant, only
monkeys everywhere!
Welcome to the 'Stock Market'
Coal India- Ready for sell off????
Previous close 288.5
Remember only two levels for this counter.... 285 and 288.
If this counter breaks 285, will be shorted aggressively..........
Concentrate on July 300/ 290 puts and buy accordingly.....
Please respect the levels....
Bharti Airtel- Something fishy!!!!
Previous close 277.7.
Below 276, this counter will crash to 265- 250 levels.
If trades below 276, buy July 300 puts.
Will be maintaining a stop loss of 279 in the underlying......
Wait for the levels to trade....
Friday, 21 June 2013
Gold and Silver: A Great Day to be a Bear
Gold and Silver: A Great Day to be a Bear
Elliott wave analysis is the blade-proof glove with which "to catch a falling knife"
By Elliott Wave International
In the wee morning hours before dawn on Thursday, June 20, the precious metals' rooster crowed, "Cock-a-doodle-DOH!"
It was the ultimate wake-up call:
First, gold prices plummeted 4% then 5% then 6% below $1300 per ounce to their lowest level in nearly three years. Soon, silver followed in an even steeper drop below $20.
At 6:45 am, one popular news outlet went live on the scene and wrote: "It's a bloodbath at the moment with most technical support levels being broken ... calling a bottom would be like trying to catch a falling knife." (Marketwatch)
As for what triggered said knife to fall, you ask?
Well, according to the usual experts and every mainstream news outlet under the sun, the gold and silver bottom fell out after investors digested stimulus-tapering comments from the June 18-19 Federal Open Market Committee minutes.
Upon closer examination, though, there are several problems with this notion:
- Fears of the Fed starting to twist shut its QE tap are anything but new. Gold and silver investors have had months to digest this potentiality.
- Not to mention the fact that the June 19 minutes made no direct mention of actually stopping its bond-buying program. FED Chairman Ben Bernanke was hypothetical at best, saying, "IF the incoming data are broadly consistent with ... and remain broadly aligned with our current expectations ... it would be appropriate to moderate the monthly pace of purchases later this year."
That's hardly a cease-and-desist order.
- And, last, gold and silver prices did not fall immediately after the FOMC minutes were released. In fact, they rose. Headline: "Gold Prices Show Muted Reaction To Upbeat Fed" (Mining.com)
In plain terms: Gold and silver's June 20 thrashing was not a news-driven move.
That leaves this explanation: The gold/silver sell-off was the most probable scenario as outlined by the Elliott wave playbook. In this case, that playbook is EWI's Short Term Update.
In the June 17 Short Term Update -- before the FOMC meeting even got started, mind you -- our analysis set the bearish stage in gold and silver via these charts and analysis:
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"[Gold]'s overall trading remains weak. The bounce we noted last evening is over.... A decline through $1373 should indicate that wave __ of __ down is under way. The downside potential indicates at least a sell-off into the $1250-1300 range."
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"[Silver] remains weak and prices appear on the verge of declining to new lows beneath $20.07.... Our near-term stance remains bearish."
|
FREE Gold Video from Elliott Wave International Elliott Wave International forecasted nearly every major trend and turn of the past three years in gold and silver. If you invest in precious metals, you owe it to yourself to see how we got to where we are today. In a 10-minute video titled Gold Defies Bulls' Optimism, Elliott Wave International's Chief Market Analyst Steve Hochberg lays out what has transpired in gold since 2011 so you can understand where it's headed next. |
This article was syndicated by Elliott Wave International and was originally published under the headline Gold and Silver: A Great Day to be a Bear. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.
Relcapital
Previous close 331.
This counter will crash to 315.
A last and final support exists, below which it will be a free fall for this counter...........
SELL IT
REC Ltd
Previous close 198.
This counter will crash to 192 in no time......
Will it be able to sustain that level?????
If it fails to hold that level, this counter will crash to 160......
You have witness crash in PFC, now its the turn of REC...................
Larsen and Toubro
Previous close 1396.
Below 1385, sell it......
Maintain a stop loss of 1397.
The immediate target for this counter will be 1300....
Wednesday, 19 June 2013
Sbi
Sbi :CMP 2033. If breaks 2028 buy 2100 put of June series. Will take a small stop loss of 2040 in under
lying
lying
Tuesday, 18 June 2013
Friday, 14 June 2013
TATA Motors- Bear Attack??
Previous close 282.95.
Any rise, Sell this counter.
This counter will crash to 270 soon.....
Below 270, who will save this stock???
Mean while you can sell June futures or buy 300/ 290 puts for this counter......
Wednesday, 12 June 2013
Power Finance Corporation Ltd - Will it survive???
Previous close 172.2.
170 is the last hope for this counter.....
If breaks, Sell June futures and take a stop loss of 172.
If trades in our zone, this counter will crash to 150 in the coming days......
Oriental Bank
June futures previous close 225.
Only two levels we are interested in... 222 and 226.
If breaks 222, short this counter with a stop loss of 226.
Repeat trades if required.
Expecting this counter to crash to 205 level soon..........
Icici Bank
June futures previous close 1083.
Sell it.....
No ifs and buts, this counter will crash to 1050.
A strong and final support exists at this level...
Will it hold that level or not??? will take the call accordingly...
Monday, 10 June 2013
Asian Paints
June Futures: Previous close 4596.
Remember only level for this counter....4570.
This is the last and final hope for this counter.
If breaks, Sell June futures and take a small stop loss of 4600......
Below this level, it will be a free fall for this counter up to 4200 levels...
Friday, 7 June 2013
Tuesday, 4 June 2013
Canara Bank
Previous close 407.75.
Remember only two levels for this counter.... 405 and 409.
If breaks 405, this counter will crash to 380 and 370 levels in no time......
Jun futures are trading in discount, no problem sell accordingly...............
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