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.

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LIC Housing Finance; time for bulls?

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Will Exhaustion Gap Halt the Down Trend in Nifty?

In this video we have explained what NIFTY is likely to do in next few sessions.

Nifty Options Weekly Expiry; MAX PAIN stands at 13400

#NIFTY #INDEX currently trading at 13438, down by 90 from previous close. Today index has opened gap down and taken out the low placed yesterday at 13449 triggering primary weakness in market for the day. Immediate support is now placed at 13390, retest to this level can’t be ruled out but stability below 13390 will result in to further weakness and then attempt towards 13350-13310 zones can’t be ruled out. Key support will be at 13300 and further stability below that level will bring more weakness. Resistance is now placed at day high which stands at 13488, any sustained move (Less likely) above that level will bring some relief to bulls and then attempt towards 13540-13590 can be seen. On #option_chain heavy #call_writing is being done at 13500-13600 strikes where as short covering is visible in 13450 and 13500 puts whereas longs build up seen in 13400 puts with high volume. Based on current #OI position level of #option_pain stands at 13400 thus based on current data at 10:52AM...

LET THE MARKET TELL WHO WE ARE

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