Skip to main content

Bullion Intraday Road Map for Jan 18, 2012


Gold: currently trading at 1653.02, day trading range will remain between 1640-1685. Trend will remain up till trading above 1640 and likely to taste 1680-1685 zones during this rally. Support seen at 1640 failure would signal fall till 1630-1620 area in near term. Immediate resistance seen at 1656 above this gold will try to taste 1665-1680 zones in near term.

Silver: currently trading at 30.08, day trading will remain between 29.30-30.80 trend will remain sideways till silver trading below this zone. Immediate support seen at 29.75 breaks below this is less likely but break would signal retest of 29.30 breaks below 29.30 would signal failure of bullish swing and retest of 28.50-28.40 can’t be ruled out. Immediate resistance seen at 30.15 cross above this would open door for 30.50-30.80 zones, but silver need a close above 30.80 to confirm further upside rally that will take it to 32.20-32.70-35 in near term. 
Labels:

Comments

Post a Comment

Popular posts from this blog

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. 
Post a Comment
Read more

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...
Post a Comment
Read more

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