Skip to main content

Intraday Trading Levels for Sep. 12, 2011


Gold comex : expected intraday trading range between 1810-1890, intraday trend is still weak and a big fall below 1805 can’t be ruled out, 1910 is looking very stiff resistance. Immediate support seen at 1837 below 1837 a retest of 1822-1806 possible during the day, but big fall only will take place below 1805 if sustain more than 15 minutes, that can retest 1750-45 during this fall. Immediate resistance seen at 1868 above 1868 a rise may take place up to 1890-1910 during the day a daily closing above 1905 zone will completely neglect all our bearish view and up side rally may lead towards 2100+ in short term.

Silver Comex: expected intraday trading range is between $40.30-42.60, silver is still moving in a band off 40.30-42.70 a buying and selling pressure seen near support and resistance of this band.  Intraday important level to watch is 40.30-40.20 zones. Below 40.20 we can see a big fall during the day. and next major support will be 38.70 below 40.20. bears need not to worry till silver not sustain above 42.70 above 42.70 it may rise up to 43.50-44.30 during the day . Silver is currently trading with negative bios bears can sell around 41.10-41.20 with stop loss of 41.60 for target around 40.40 during the day.
Labels:

Comments

Post a Comment

Popular posts from this blog

LIC Housing Finance; time for bulls?

  LIC HOUSING FINANCE settled at 321.90 up by 5.78% on Tuesday. Stock had been staying in a consolidation phase that took shape of an ascending triangle and in today’s session it broke through the resistance line of this triangle consolidation and settled well above key resistance of 312 suggesting dominance of bulls. Stock has been staying above its 9 days SMA on daily chart keeping a short-term bullish trend in picture. Stochastic is now approaching overbought territory along with bullish cross above its signal line suggesting a strong bullish momentum. MACD has been staying in positive territory and now its parting upward from its signal line suggesting development of fresh bullish momentum. Direction and momentum are two important components for any chart to anticipate future price movement and current trend and momentum on chart provided above is suggesting bullishness. Breakout of triangle pattern can be used to determine potential destination for current move and if th...
Post a Comment
Read more

Nifty Struggles Near 24,500: Key Resistance and Support Levels to Watch

  Nifty Update (CMP: 24,439) After a strong opening rally, Nifty hit a high of 24,589 but then faced sharp selling pressure, dropping to a low of 24,305. It is currently hovering near the 24,400 zone, which has acted as a recent consolidation area. Technical Outlook: As long as Nifty holds above 24,300, there remains potential for an upward move toward the 24,700–24,800 levels. However, the 24,850 zone is expected to act as a strong resistance, with possible selling pressure near that area. Immediate support lies at 24,305, followed by 24,190. A break below 24,190 may negate the bullish momentum created by today’s early rally. Options Data Analysis: Call Side: 24,500 CE has the highest open interest (OI) at 80.52 lakh contracts with 9.58 crore volume and 54.5 lakh OI addition, indicating strong resistance. 25,600 CE also saw significant activity with 8.13 crore volume and 46.93 lakh OI addition. Put Side: 24,500 PE recorded 8.84 crore volume and 29.55 lakh OI additi...
Post a Comment
Read more

Nifty Struggles at 24800: What Options Data Tells Us About Market Direction

  Nifty settled at 24,578 , down by 1.39% on Tuesday. The index failed to attract follow-up buying above 24,800 , which acted as a strong resistance zone (as highlighted in our previous write-up dated May 2, 2025 ). It eventually closed well below this level, indicating the presence of selling interest near key resistance. Technical Overview: Nifty successfully tested the resistance zone of 24,800 and subsequently formed a bearish Harami pattern on the daily chart. This pattern coincides with a recent swing top and occurred near a resistance zone, thereby strengthening its technical significance. A large trading range was observed on Monday, May 12, 2025 , which suggests the possibility of a sideways move in the coming sessions. Despite the recent pullback, the intermediate trend remains bullish as the price is still holding above the 9 and 21 DEMA levels. Moreover, the 9 DEMA is placed above the 21 DEMA , confirming the uptrend. Key support is now seen in the 24,100–24,000...
1 comment
Read more