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

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...

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...

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