Bullion Intraday Road Map for Jan 3, 2012

Gold: last traded price 1578.47 intraday trading ranges will remain between 1560-1600. Immediate resistance seen at 1582 a cross above this level would signal intraday rally up to 1592. 1592-95 zones are key resistance zones for gold cross above these zones would an advance till 1620-1640 in very short term. Key support will remain at 1560 break would signal down side till 1538-1532, trend will remain bullish for very short term for expected targets 1620-1640

Silver: last traded price 28.15 trading range will remain between 27.50-28.70. Trend will remain bullish over short term and silver is likely to taste 29.70-30 in very short term. Immediate resistance seen at 28.50 above 28.50 it would signal intraday advance till 29-29.70 key resistance will remain at 30.20 further upside only possible above 30.20 on closing basis. Immediate key support seen at 27.50 breaks would signal an intraday down side till 27.10-27 and 26.60 will remain key support for short term.

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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

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