As we move from 2011 to 2012....

World pays alot of significance to the year changes. Its but obvious.... So as we move from 2011 to 2012 I wish the each moment and year ahead for the entities across the universe to be content, happy and capable to looking after not only for themselves but others as well....

Gold and SIlver in INR - Technicals

Above is the weekly chart for gold in INR. as we can see all the indicators were not supporting the higher high move resulting in negative divergence and now the prices are correcting since indicators as suggesting sell as well. So lets wait and watch the correction which is much wanted in INR for those who want to accumulate. There may be way to go before the conditions are semi/ oversold.

On the daily charts the prices are taking support at 100ema and also to note is that we have reached oversold conditions as well. Hence the downward momentum now needs to be watched carefully for future indications of price movements. Prices may be under pressure as long as higher TF technicals are negative.



Silver weekly charts show that the prices have been trading in the range and consolidating here as well. So we would need some positive action to see some upward momentum being built up. Similar thoughts for daily TF. 

Some Technical Notes

Nifty

Time frame	Trend indicator	Lead indicator	Candlestick	Conclusion
Monthly	Sell position and above 0	Oversold and 19/21 is the levels and sell position	Lower low and lower high with continuation candle. 4362 is the 100ema	Bias remains negative, cautionary sign is that market is oversold
Weekly	Sell position and below 0 and divergence -21	Oversold and 14/20 and sell position	Higher high and higher low. 8/13 crossover is negative and 4627 is the 200wema	Bias remains negative, cautionary sign is that market is oversold
Daily	Buy	At mid point in buy mode at 40	Lower low and lower high continuation candle	Bias is negative but shorts may have limited life

TATA MOTORS

Time frame	Trend indicator	Lead indicator	Candlestick	Conclusion
Monthly	Sell but lower histograms	Turned up from oversold zone. Buy at 27	Inside month (2 consecutive) will look for range expansion	Looking for direction
Weekly	Buy	Has given a sell turning down from 60	Higher high and higher low red negative candle. 180 levels is 8/13/100 ema	180 levels is strong support
Daily	At 0 may turn down	Will give a sell tomorrow incase we close negative	Lower low and lower high doji and closed below 8ema	Triangle in the making and needs to conclude

HINDUSTAN LEVER

Time frame	Trend indicator	Lead indicator	Candlestick	Conclusion
Monthly	Buy	Buy and overbought	Doji in the making with higher high and higher low	May be trend is halting
Weekly	Buy	Buy and overbought	Possible doji in the making with higher high and higher low	May be the trend is halting
Daily	Buy bit gave negative divergence and turning down	Has given a sell now after overbought conditions	Continuation candle with lower high and lower high moving towards 8ema and 13ema	Corrective action

Gold & Silver Technical Take (USD)

Below is the monthly chart of Gold (Comex) as we come to the close of the year. If you see Gold made a lower low on monthly and then decline in prices is happening on declining volumes. Moreover the macd on monthly charts is at the verge of going into sell signal which may move prices lower to sideways since until now the metal is in bull run. Hence on monthly charts -- waiting for few days more and obeserving the action of prices is the way to go. Incase one is accumulating the metal, one can continue to do so but if you have waited for so long then few more days wont hurt.





Gold is moving in a range and possible making a double bottom on prices here at these levels. However we will need to wait to see if things bottom out. 

On near term immediate 200dema is the resistance for the prices and lets wait before buying the metal here. 

Silver is the metal that sold off almost 50% after hitting its high at $48 to an ounce. Now the correction has happened at lower declining volumes we will need to wait for some bottoming signals. Though for now $27 region looks fantastic levels to buy IF THEY come which looks less probable since the metal would be accumulated much faster by the people in the know of the metal and its bull run.

Again on a weekly silver is trying to make a bottom here and lets not try to trade it. Rather accumulate the metal and enjoy the gains when they come. 

Status Check on Two Scrips

TATA MOTORS

Time frame	Trend indicator	Lead indicator	Candlestick	Conclusion
Monthly	Sell at (-8.9) with lower histograms	Buy at 27.80	Formation of bullish Harami	Trying to turn up from monthly TF
Weekly	Buy at 3.25	Sell at 59.64	Possible bullish Harami	8.13 averages are positive crossover.
Daily	Just given a buy at 0.2	Buy at 41.4	Doji with higher high and higher low at the trendline resistance	8.13 crossover is positive and scrip as of now is not overbought so doji can be just a pause

HINDUSTAN UNILEVER  

Time frame	Trend indicator	Lead indicator	Candlestick	Conclusion
Monthly	Buy with divergence of 10	Buy and overbought at 91.96	Possible doji at the moment	Has had quite a strong move in downmarket
Weekly	Buy with divergence at 4	Buy and overbought at 84.32	Bullish continuation candle with breakout above 400	8.13 averages crossover is positive
Daily	Gave a buy in last 2 days 1.01	Buy and overbought at 79.44	Made a doji with higher high and higher low	8.13 averages crossover is positive