Bullion Intraday Road Map for Jan 26, 2012

Gold: yesterday gold has nicely broken out resistance of 1685 and closed above 1690 nicely shooting up according our technical setup as posted on January 18, 2012. Now gold has defined a recent support at 1640. I was expecting 1640 as very strong support and yesterday reversal seen from that support area. Now gold has open trading range for 1800 in short term. Intraday expected trading range will remain between 1640-1760. Immediate support seen at 1704 break below 1704 may take it to 1688-1670 but that will be actually buying zone for fresh entries. 1640 looking very strong support for this swing and we are expecting 1725-1755-1805 targets for this swing.

Silver: currently trading at 33.10 and nicely broken out long awaited resistance zones of 32.80 now suggesting 33.80 zones as minor resistance and rally expected till 35.50-35.80 according this breakout as we have written many times in our morning reports. 31.40 will remain important to watch but major support for this swing will remain at 30.30 swing failure only possible below that. Intraday trading range will remain between 31.40-33.80. Reversal my occur from 33.80 zones for intraday, support seen at 32.70 break below 32.70 will open day trading range till 32$ but buying in dips will be good strategy for a big boom. Buying around 32 zones will be a good idea for expected targets of 35.50-35.70 and trader can use 31.40 as stop loss on daily closing basis.

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