Bullion Intraday Road map for Nov 14, 2011

Gold: as per daily chart we are trading with a strong up trend in gold. Currently trading at 1793 day trading range between 1748-1820, short term trend will remain bullish minor resistance at 1805 above that trading range will open for 1820-1849 in coming days. Major support seen at 1774 below 1774 day trading range will remain open for 1762-1752. Weekly trading range will remain between 1680-1890.

Silver: intraday trading range will remain between 33.70-35.50, currently trading at 34.79 trends will remain bullish and silver will try to taste 37 during this week. 35.30-35.70 area will remain resistance zones. 2 consecutive closes above 35.40 on 4 hour chart would confirm this rally till 37 and more upside. 33.80 will remain very strong support for current move for targeting around 35.40-35.70 zones. But further move will confirm after closing above said level. Bios are positive trend is strong up closing above said level will supply more power to our said view. Buying in dips around 34.10-34.20 area can be good idea for the day with stop below 33.70 for targeting 35.30-37 during this week. Weekly trading range will remain between 33-37.

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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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