Wednesday, June 18, 2014

Support @ 7530 & 7510

Dear All,

>>> Click the chart to see on full screen <<<

Sudden Fall due to Gulf Crisis and followed by INR hit a low of 60.43. Nifty resisted @ 7662 or 78.6% fib level as shown on chart. So Now 7530 and 7510-7500, Support if breaks then fall to continue.

We hit a stop loss too. Nifty may remain volatile till the gulf news gets fade. PM's meeting on Inflation followed by Budget dates may increase nervous and hence caution advised on either side.

To say in simple words - safety is First and I feel lot of Retailer may have trapped or Hit SL on last 4-5 days.

So better wait for more clarity.

>>> MCLEODRUSS <<<

>>> Click the chart to see on full screen <<<

Have already covered this as a Special Coverage on Last Weekly review. Fall in tea out put followed by Increase in Price of Tea may benefit Mcleodruss.

On Chart a Flat / Pole like pattern visible and if break above the channel - Get ready for a good rally. So Forget Nifty and Buy this tea stock for excellent gain. Cheers!!!