Bullion Intraday Road Map for Feb 14, 2012

Gold: currently trading at 1717.90 day trading range will remain between 1700-1755, very short term trend down. Immediate support seen at 1713 failure would signal intraday decline till 1705-1703 and 1700 will remain key support. Consolidation below 1700 would signal a decline till 1685-1670 zones for this corrective phase. Immediate resistance placed at 1724 consolidation above 1724 would take it to 1732 but 1732-35 zones will remain key resistance area for further upside that will take it to 1742-1755 zones and 1755 is key resistance on weekly basis.

Silver: currently trading at 33.55 day trading range will remain between 32.90-34.06 immediate supports placed at 33.40 down side only possible below this otherwise jump can’t be ruled out and intraday consolidation expected between 33.40-34 range. Major resistance for the day is 34.06 consolidations above that would take it to 34.40 zones but key resistance at 34.60 for the week. Very short term trend sideways with 32.90 as strong support area.

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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...

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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