Bullion Intraday Road Map for Mar 02, 2012

Gold: currently trading at 1719.41, day trading range will remain between 1660-1760; trend is sideways with negative bias. Gold having very strong resistance at 1732 consolidation above 1732 will take it to 1742-55 zones. But 1760-63 zones will remain key resistance for the day. Immediate support seen at 1713 below this gold will try to taste 1700-1695. This swing is open for 1665-60 till trading below 1763 for short term.

Silver: currently trading at 35.25, day trading range will remain between 34.40-36.00, trend will remain down. Immediate resistance at 35.75 break would take it to 35.95-36 consolidation above 36 would take it to 36.50 and 37 and 37.40 will remain key resistance for short term. Support seen at 35 break will take it to 34.70-34.50 and 33.90 will remain key support for short term and failure below 33.90 would signal short term consolidation between 32-36.

Selling on rise would be good idea for bullish try to sell near our said key resistances for safe trading.

Comments

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...

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

Search This Blog