Bullion Intraday trading range Nov 23, 2011

Gold: yesterday nice rebound seen in gold from bottom line of 1666 and nicely jumped till 1705.49 our 2nd target of 1710 just missed by $5. Currently trading at 1707.65, day trading range will remain between 1660-1730. Immediate resistance seen at 1715 penetration above 1715 would signal intraday rise till 1726-1740 zones. Important level to watch for today is 1727 closing above 1727 would confirm short term reversal and 1665 will remain important support and gold will try to resume up trend for targeting 1925 and more in midterm. Immediate support seen at 1695 breach of this less likely, but would signal 1685-1675 for the day. Sell trade possible with strict stop loss of 1727 best selling zone around 1715. Above 1727 if gold manage to hold then don’t remain short in gold.

Silver: currently trading at 32.58, intraday trading range will remain between 31.40-33.90. Immediate support seen at 32.30 below this 32 will act as very important support below this no major support till 31.30. Immediate resistance are 33-33.30 above 33.30 no major resistance till 34$ closing above 34 would confirm short term recovery and retest of upper band around 35-37 will be on cards. Buying around 32$ will be a good trading idea for the day trader can use 31.80 as stop loss.

Comments

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...

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...

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