{"id":1321,"date":"2011-12-13T03:27:11","date_gmt":"2011-12-13T03:27:11","guid":{"rendered":"http:\/\/www.cashthechaos.com\/blog\/?p=1321"},"modified":"2014-01-14T22:41:12","modified_gmt":"2014-01-14T22:41:12","slug":"technicals-13th-dec-2011","status":"publish","type":"post","link":"https:\/\/www.cashthechaos.com\/blog\/2011\/12\/13\/technicals-13th-dec-2011\/","title":{"rendered":"Technicals 13th Dec 2011"},"content":{"rendered":"

Nifty(4760.60): It has taken just 3 sessions to retrace a little over 3\/4ths of the move from 4640 to 5100. The probability that wave ii of wave 5 ended on\u00a0Friday\u00a0itself and the markets are progressing in wave iii of wave 5 is quite high. In simple terms, the markets are in the most powerful leg of the move within in this decline is very likely.<\/p>\n

\"\"<\/a>

Nifty hourly charts<\/p><\/div>\n

If this is the case, the minimum\u00a0measurement\u00a0for this powerful leg works out to 4505. In the extreme short-term, market could find support<\/strong> in the region of 4690-4720<\/strong> and have a small relief rally or it may just plunge straight through 4690 and go for the breach of 4640.<\/p>\n

In other markets, Gold has breached an important support .<\/p>\n

\"\"<\/a>

Gold Daily charts<\/p><\/div>\n

Ill keep this very simple - as can be seen from the chart above, a trendline has been established (blue dashed line) and Gold went below its previous support of \u00a01667. Overnight, there was also a strong rally for the dollar index. If you want to short Gold, the stop is $1770 on the front month contract (a few points above Dec 2 high if you use any other contract). I expect Gold to hit 1410-1380 atleast in the first 6 months of 2012<\/strong>. To be honest, Gold has whipsawed me on a couple of\u00a0occasions and that is the only reason for not having an official trade here but this is a clean set up, atleast for the short-term.<\/p>\n

Silver: We are already short from 34.2 and have taken part profits. If silver drops below 30.65, add back the same quantity you booked at $31.4 and revise stop to 33 as stop for a target of $26.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Nifty(4760.60): It has taken just 3 sessions to retrace a little over 3\/4ths of the move from 4640 to 5100. The probability that wave ii of wave 5 ended on\u00a0Friday\u00a0itself and the markets are progressing in wave iii of wave 5 is quite high. In simple terms, the markets are in the most powerful leg […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,42,76],"tags":[],"class_list":["post-1321","post","type-post","status-publish","format-standard","hentry","category-commodities","category-indian-stocks","category-premium-content","category-41-id","category-42-id","category-76-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/comments?post=1321"}],"version-history":[{"count":5,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1321\/revisions"}],"predecessor-version":[{"id":1758,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1321\/revisions\/1758"}],"wp:attachment":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/media?parent=1321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/categories?post=1321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/tags?post=1321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}