Intraday Trading Levels for Oct 10, 2011

Gold comex: gold is still bounded in a range of 1595-1680 a clear move will occur only after breakout of these ranges. Gold was not able to break 1625 mark during Friday fall as we were expecting 1625 area is good support zone and gold made 1626.20 as day low and nicely jumped from our said support area. Today expected trading range for gold is between 1600-1680. Immediate resistance seen at 1655 a break above 1655 will take it to 1664-1675-78 zones. Immediate support seen at 1645 a failure below 1645 will again take 1632-25 zones. 1625-23 area is looking good support zone if gold manage to break 1623 level with volumes then a retest of 1608-1603 zones possible for the day. Buying above said immediate resistance will be good idea otherwise avoid buying.

Silver comex: as I wrote on Friday that till silver trading below 32.50 looking weak and a retest of 31.30-30.80 zones is possible and during evening session a nice slid seen in silver and silver made 30.70 as day low during the day. Now 32.60 zones are looking as very stiff resistance zones further upside possible only above that range. Immediate resistance seen at 31.90 a retest of 32.50-32.70 range possible above 31.85 other wise silver looking weak and 31.30 a nice selling pressure can appear in streets and silver may try to head towards 30.50 zones during the day below 30.50 a failure will occur in this swing and down side targets till 28$ will remain open for silver. 33.50 is a level that will act very important level on weekly basis also. If silver manage to hold above 32.50 area on daily closing basis then consolidation range will remain open between 30-38 for coming days.

Comments

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...

First step towards becoming Financial Independent...

Success is not getting a highest paying job but success is when you get enough free time for yourself you can do whatever you want you can go wherever you want to go without concerning about your job and effecting your lifestyle. Generally people waste their early age in preparing for govt. Jobs and they put their energy and time for preparing job but among those only few people get the govt. Jobs and rest stay jobless with wasted time of 3 to 5 years of their graduation and mostly spend their life jobless or with mediocre salary. In India people In their early age after graduation don't have much pressure from family for earning and they usually use this time to prepare for competitive exams for job and take some courses and among them only few people get job and rest remains jobless and then they keep blaming the system for their unemployment. Let's take an example to understand magic of starting earning and saving in early age. Because in ea...

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...

LET THE MARKET TELL WHO WE ARE

Search This Blog