Gold - 02.09.2014

Dear All,

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

Since an expanding triangle is broken Price have started falling down. As shown on chart if the First Support breaks and trades below that, Next two supports are the target. Since the Price is oversold, there can be a bounce also possible. Below 27644 there can be a fall upto 27480 and 27318 very soon. Lets See. Cheers!!!

Resistance @ 8114 & 8143

Dear All,

>>> NIFTY <<<

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Wrote Yesterday 6054 as a Resistance - Which crossed today and tested 8101.85. Since the upmove is an extended wave, it looks like nifty may try to reach more resistance on the upper side. We hit a SL of 25 Points today. As per our message given on chart - Nifty crossed once 8090 and closed near to it. Next Resistance at 8114 and 8143.

>>> Bank Nifty <<<

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16140 was the resistance given yesterday, crossed once and closed @ 16125. Now Next Resistance @ 16290 and 16500. Lets See.