Nifty futures made a inside bar on the weekly timeframe despite continuing global tensions, global market corrections, FII selling in index futures and cash segments and local events like Mr.Vishal sikka resignation from INFY which is a strong indication that sellers are not aggressive yet compare to the aggressive buyers.
Nifty Futures on the weekly timeframe had lost a weight of -3.7%. Trading sentiment continues to be down across all the timeframes. Markets are continuously falling on global tensions as long term trading activity is greatly missing from the markets. Pullbacks are possible if the global tension eases out. Nifty futures move above 9750-9763 band in the very short term could bring some momentum on the upper side.
Currently both USDINR and Gold maintains a medium term buy mode. And the support zone comes around 59.55/Dollar and 1260.6 respectively. Outlook will turn bearish if the support zone breaks on the Daily Charts.
Now Lead is trading at 2226 on LME & as we can see on charts, lead was able to produce a negative candlestick pattern after touching the topline of short term channel . The top line was represent 161.8% correction are of last minor bullish wave. However the reversal yesterday already touched the support zone but downtrend probably continue for coming trading session.