Bullion Intraday Road Map for Feb 21, 2012

Gold: currently trading at 1734.67, expected day trading range 1700-1755, trend is sideways with positive bias. Gold moving between ranges of $10 since yesterday. Immediate support seen at 1728 break will take it to 1717-1708 zones but 1700 will remain key support for short term. Immediate resistance seen at 1738 break would signal retest to 1748-1755 zones. Consolidation above 1755 would signal resumption to bullish move and 1800 will be next destination for gold.

Silver: currently trading at 33.56 expected trading ranges for the day is 32.90-34.50, trend is sideways. Silver moving in a range between 33.30-33.70 since yesterday and was not able break this range to signal a clear trend. Immediate resistance seen at 33.70 breaks above 33.70 would signal retest to 34.05 zones. 34.05 is also an important resistance break above this level would signal retest to 34.40-34.50 zones. consolidation above 34.50 would signal an advance till 35.70 for short term. Immediate support at 33.30 break will take it to 33 and 32.50 zones.

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LIC Housing Finance; time for bulls?

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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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