Is Gold getting ready for another rally?

On daily chart gold moving in descending triangle having 1675-82 zones as stiff resistances, breakout above 1682 on daily closing basis would signal primary rally till 1760-1810 over midterm time frame. Immediate support seen at 1618 break below this level is less likely. Breach of 1618 zones would signal a decline that will offer 1570-1530-1470 as down side targets.

Comments

Dinesh said…

jai mata di.
Bro tell for physical view good for wait now na.tell ur view for 2 to 4 month.
In indian term now chance more down side possible na rupees look strong and u also tell it.
In indian term tell ur view also.

January 18, 2012 at 12:49 PM

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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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