Bullion Intraday Road Map for Nov 30, 2011

Gold: currently trading at 1722.62, day trading range will remain between 1698-1740. Immediate strong resistance seen at 1727. Trend will remain sideways. Immediate support seen at 1711 below that 1703 possible. 1703 will act as very important support for the day below this level selling pressure may be there in streets. Buying around 1714 can be a good trade with stop loss below 1703 for targeting around 1732-40. Selling possible only below 1703 with strict stop loss above 1714 for expected down side targets around 1686-1666-1655. Otherwise selling near upper band of trading range can be good idea.

Silver: currently trading at 31.84 expected trading ranges will remain between 31-32.30. Silver facing a very strong resistance at 32.30 above this resumption to a bullish swing possible that will take it to 33-35 in near term. Break below 31.35 is less likely but failure below that would confirm decline till 30.95- 30.50. 30.50 is still looking a key support and break below this level will invite more sellers to street. Trend will remain bearish till silver trading below 32.30.

Click here to read full trend analysis of silver.

Comments

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...

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

Search This Blog