Skip to main content

Intraday Road Map for bullion Nov 09, 2011


Gold: currently trading at 1791.76, day trading range between 1740-1840. Immediate resistance seen around 1805, below 1805 very short term trend will remain sideways. We will see consolidation between 1760-1805. Above 1805 rally will extend till 1819-1840 for the day. 1780 will remain key support for the day below 1780 it will try to taste 1760-1745 zones for the day.
Possible trade: Selling around 1790-95 for targeting 1766-1746 stop loss with 1805.

Silver:  currently trading at 35.12, day trading range will be 34.40-35.90. Intraday trend will remain bullish. Immediate support seen at 34.70 below 34.70 it will try to taste 34.40 and 34.40 is the major support for the day below 34.40 further down side possible otherwise silver will remain open for  resistance area 35.40-35.90 for the day. Immediate resistance seen at 35.40 above this 35.90 possible for the day.

Comments

Post a Comment

Popular posts from this blog

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...
Post a Comment
Read more

Nifty Struggles Near 24,500: Key Resistance and Support Levels to Watch

  Nifty Update (CMP: 24,439) After a strong opening rally, Nifty hit a high of 24,589 but then faced sharp selling pressure, dropping to a low of 24,305. It is currently hovering near the 24,400 zone, which has acted as a recent consolidation area. Technical Outlook: As long as Nifty holds above 24,300, there remains potential for an upward move toward the 24,700–24,800 levels. However, the 24,850 zone is expected to act as a strong resistance, with possible selling pressure near that area. Immediate support lies at 24,305, followed by 24,190. A break below 24,190 may negate the bullish momentum created by today’s early rally. Options Data Analysis: Call Side: 24,500 CE has the highest open interest (OI) at 80.52 lakh contracts with 9.58 crore volume and 54.5 lakh OI addition, indicating strong resistance. 25,600 CE also saw significant activity with 8.13 crore volume and 46.93 lakh OI addition. Put Side: 24,500 PE recorded 8.84 crore volume and 29.55 lakh OI additi...
Post a Comment
Read more

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...
1 comment
Read more