IDFC : Short Term Reversal

After a huge up-move which started on 07th May 2012 from the lows of 110.35, culminated at the highs of 142.70, a huge gain of about 30% in less than 44 session. From the highs it has corrected approx 50% Fibo level at 126.90 and taken a U-Turn.

Coming back to Profile, it has closed above Monthly VAL at 133.10 and could target higer levels at POC and VAH in the coming days.

The Monthly Value Areas are; VAH - 142.45, POC - 137.80, VAL at 133.10

Based on the above information a swing long can be tried at CMP of 134.55, with Stoploss at 133 (on closing basis) for Targets of 137.80, 142.45

YesBank : Correction Over

YesBank : Correction Over, Start of New Up-Move

YesBank corrected exactly 38.2% of the move from 294 to 364.25 at 337.30 and looks like a start of a new up-move. Looking at the profile chart, it has closed above the monthly VAH at 342. The stock can easily move up to 359 and to the HVN at 368.90 in the coming days. For this setup to be good, YesBank should not close below 337 on closing basis. Traders can initiate buy at CMP of 345.65, for Target of 359, 368 keeping a SL of 337.

Monthly Value Area : 342, 333, 324

Gold & Silver : An Update

GoldM Outlook for the Week :

Value Areas : VAH-29295, POC-29246, VAL-29197

Based on the GOLDM Weekly Profile chart, the VAL of last and this week has been protected till now. Gold for the week closed just around VAH at 29285, where we see the highest concentration of Volume.

Based on the above a long can be created at 29295, with SL just below 29180 (on hourly closing basis) for Target of 29545 and above.

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SilverM Outlook for the Week :

Value Areas : VAH-52903, POC-52727, VAL-52551

Based on the SILVERM Weekly Profile chart, it consolidated within the previous week's range with 2 dips coming around the Previous weeks VAL being bought into. SilverM for the week closed just below VAH at 52888.

Based on the above a long can be created at 52905, with SL just below 52725 (on hourly closing basis) for Target of 53177, 53308.