Intraday Equity Tips & Commodity Market Outlook Recommendation by CapitalHeight

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Equity Market Recommendation:

CapitalHeight’s Stock recommendation for 29/10/2014 is RS Software Ltd. It has been trading in range-bound note. Its long term trend is up. In today’s trading session, it was up by 7.07%. On the daily chart, it formed “Bullish Engulfing” pattern, which suggest some buying movement from this level. Momentum indicator RSI has also given positive crossover. Its short term support level is at 580. All the indicators are suggesting that the stock may see some upside movement. One can go for long position in this stock above 695. The stock may test level of 800 in coming days.

Our recommendation on RS Software is LONG above 695 for the Target of 705-720.

Today Stock Trading Tips:

·         BUY IGARASHI (LCP-325.25) ABOVE 327 TG-331-337

·         BUY RS SOFTWARE (LCP 679.5) ABOVE 681 TG-686-693

·         BUY ACCELYA (LCP 842.6) ABOVE 845 TG-850-857

·         BUY AJANTA PHARMA (LCP-1875.65) ABOVE 1879 TG-1890-1910

Commodity Market Outlook:

·         Gold futures for December delivery gained less than 0.1 percent

·         Silver futures for delivery in December added 0.4 percent

·         Copper futures rose to the highest in more than a week

·         Copper traded near the highest in almost two weeks

·         On the LME, aluminum, zinc and lead advanced

Gold futures traded near a two-week low as investors awaited the conclusion of the Federal Reserve’s two-day meeting tomorrow. The metal rose as much as 0.5 percent today before erasing gains after a government report showed orders for U.S. durable goods unexpectedly fell in September. Silver futures for delivery in December added 0.4 percent to $17.226 an ounce on the Comex. West Texas Intermediate and Brent crudes advanced for the first time in three days after a report showed that confidence among U.S. consumers rose in October to a seven-year high as gasoline prices dropped.

ZINC(OCT)

Trend: Consolidate | Strategy: Sell on High

R1- 138.9  R2- 141.5 | S1-134.8 , S2- 130.5

NICKEL(OCT)

Trend: Consolidate | Strategy: Sell on High

R1- 963, R2- 985| S1-905, S2-875

ALUMINUM (OCT)

Trend: Consolidate | Strategy: Sell on High

R1- 123.2, R2- 124.5 | S1-119.3 , S2- 116.5