book profit in short call of tatasteel future arround 263.50, or trail with SL of 264, short created @ 267.60
Trail with SL of 318 in ITC Buy Call, initiated @ 313, for target of 320-323, call given @ 10.20 AM
Booked hug Profit in Gold Short @ 1314 Short created @ 1387 on 14 jun 2013
TOTAL BOOKED PROFIT: 73 POINTS
All clients has been requested to exit from gold short position as we got handsome profit, so its better to book n exit the same.
Low made 1288, after breaking imp support of 1313.
* we haven’t got the full benefit of free fall in gold as USDINR has been reached AT NEW LIFE TIME HIGH, but Got 73 points in COMEX GOLD & 450 points in MCX GOLD in Short call , generated on 14 jun 2013
Book All Profit in IN Short Position in Stocks futures & NIFTY, as 5600-5650 is the major technical Support on Daily Chart.
Fresh Short position can be created only below 5580
Gold will show Either side Breakout after showing big volatility as FED MEETING ahead on 19Th Jun 2013.
FED will Announce either QE3 will continue or not in that meeting.
Gold is already in downward rally, any Bad news, might put more pressure on Gold & other commodities like Crude oil, Base metals etc…
there is a major possibility to show downside breakout in gold, silver, oil, but nobody can guess What Ben Bernake Will speak.. So either hold short position with Strict Stoploss or stay out side of market.
Any positive rumor/ news can starts short covering as there is too much short positions in market in Gold.
As Fear is the biggest Market mover, short covering may show unexpected rally.
all in all small traders should remove their positions, as their risk ability is small.
booked profit in NIFTY @ 5843, long created @ 5794
NIFTY might find support around 5600-5630 in coming days, where reversal could be possible if hold the level.
So wait n watch 5600-5630 level if holds, then it might be an opportunity to go long in selective stocks.
keep an eye on USDINR, as it is major factor which is dragging the market down.