Bullion Road map for Nov 16, 2011

Gold : current price 17658.20, day trading range will remain between 1745-1800. Yesterday gold was not able to cross 1788 my said resistance area and nice selling seen from upper band of trading range. Immediate support 1765 below 1765 It will try to taste 1755-45 area below 1745 some sharp decline can’t be ruled out. Till gold not closing above 1805 I m still expecting 1705 in coming days. 1788 will remain key resistance for the day above this 1800 and more upside can’t be ruled out. Immediate trading band seen between 1765-1788 breaks above and below these range would confirm further trading range for the day.

Silver: currently trading at 3423 day trading range between 33-35. On daily chart MACD getting ready for bearish cross over near 0 line is suggesting a break below 33 would signal resumption to down trend and fall till 30.50-28-26-23 can’t be ruled out in coming days. Intraday immediate support seen at 34 below 34 it will try to taste 33.60-33 area for the day. Resistance seen at 34.27 above this it will try to taste 34.60-34.90 are but 3490-35 range is very crucial resistance for the day.

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...

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