Bullion Road Map for the day Nov 02, 2011

Gold comex: currently trading at 1724 expected trading range is between 1678-1745. 1732 is still looking a good resistance above 1732 possible levels for the day is 1744-1758. Intraday trend will remain sideways with negative bios. Immediate support seen at 1711 below 1711 expected levels are 1700-1678. Break below 1678 is less likely penetration of support would signal a decline till 1655 zones.

Silver comex: currently trading at 33.36, day trading range 32-33.70. Intraday trend sideways with negative bios. 33.80 is important level to watch for bulls. Till trading below 33.70 retest of 33-32.60 levels are possible. Below 32.30 intraday selling pressure expected, penetration would signal a decline till 31.80-31.20. Breakout above 33.70 would signal bullish wave for expected targets 34.20-34.80.

INR/USD: currently trading at 49.365, intraday trading range is 49-49.60 bios are positive rise till 49.60 can’t be ruled out. Intermediate trend is still up in this pair. In coming days weakness will remain continue in INR against us dollar in case of any change in trend we will update.

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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

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