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Daily Technical Market Update - SATCO Capital Market Ltd (NSE, Bank Nifty, Gold, Silver)

In today's market analysis, SATCO Capital Market Ltd highlights a downtrend in key indices, with expectations for technical bounces. NSE Index shows resistance between 5020-5060; best strategy is to buy on dips. Bank Nifty follows a similar trend, with resistance at 9999. Gold is nearing its resistance level at 29293; suggested selling at current market price. Silver maintains a downtrend, recommending selling on rises. Crude Oil trends down; best strategy is to sell on the rise. USD/INR shows an upward trend with potential corrections.

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Daily Technical Market Update - SATCO Capital Market Ltd (NSE, Bank Nifty, Gold, Silver)

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  1. Technical Desk Daily Market Update. SATCO CAPITAL MARKET LTD.

  2. Nse Index • On charts trend is down; however expect a technical bounce; whereas strong resistance is expected at 5020 / 5060 therefore best trading strategy would be buy on dips… • Intraday Resistance : 4940 / 4950 / 4965 / 4990 • Intraday Support : 4910 / 4900 / 4884 / 4859

  3. Bank Nifty Index • Trend is down on charts; however expect a technical bounce in near term whereas strong resistance is expected at 9999.00. Best trading strategy would be buy at dips…. • Intraday Resistance : 9469 / 9487 / 9515 / 9560 • Intraday Support : 9413 / 9395 / 9367 / 9320

  4. GOLD • Gold is very close to its stiff resistance levels (29293) as near term trend is down best trading strategy would be sell at CMP with a strict stoploss of 29293. • Intraday Resistance : 29193 / 29221 / 29266 / 29340 • Intraday Support : 29103 / 29075 / 29030 / 28956

  5. SILVER • Near term trend is down; therefore strategy still remains the same. • Best trading Strategy: Sell on rise…. • Intraday Resistance : 54262 / 54356 / 54505 / 54755 • Intraday Support : 53958 / 53864 / 53715 / 53465

  6. CRUDE OIL - COMMODITY • Trend is down on charts whereas next strong support is expected at 4855. • Trading Strategy: Sell on rise… • Intraday Resistance : 4945 / 4961 / 4986 / 5029 • Intraday Support : 4893 / 4877 / 4852 / 4809

  7. USD/INR • Trend is up on charts; however expect a technical correction on charts. • Intraday Resistance : 56.27 / 56.40 / 56.57 / 56.88 • Intraday Support : 55.89 / 55.77 / 55.59 / 55.28

  8. S&P 500 - AMERICA • Trend is down on charts whereas strong support is expected at 1290. Best trading strategy would be sell on rise and when it is close to 1290 cover all shorts…..

  9. Monday – Friday Trading Strategy.

  10. Mon-Fri status M2M

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