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.

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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.

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LET THE MARKET TELL WHO WE ARE

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