Bullion Intraday Road Map for Mar 19, 2012

Gold:

Weekly: currently trading at 1663, weekly trading range will remain between 1590-1720 with sideways trend. 1716.64 will remain key resistance for this week and gold must sustain above 1717 to confirm recovery. Otherwise weakness will remain continue and look for selling on rise till gold not manage to hold above 1717. Key support seen at1620 area break of this level is very less likely but failure would signal 1590-1575-1500 in short term.

Intraday: day trading range will remain between key support 1634 and resistance 1682, trend will remain sideways. Immediate strong resistance seen at 1666 consolidation above 1666 would offer 1676-1682 as intraday targets for buyers. Immediate support seen at 1660 failure will take it to 1655-52 and consolidation below 1652 would take it to 1640 zones for the day. But 1634 will remain key support and very short term recovery will end below 1634 otherwise we are expecting a small recovery in gold today.

Silver:

Weekly: currently trading at 32.66, weekly trading range will remain between key support of 30.50 and resistance 35.70 trends will remain sideways on weekly basis and break below 31.50 zones is very less likely.

Intraday: day trading range will remain between 32-34, trend will remain sideways. Immediate support placed at 32 failures would take it to 31.60 and more down side. Resistance seen at 32.90 consolidations above that would take it to 33.30-33.90 for the day.

Comments

Nifty Struggles at 24800: What Options Data Tells Us About Market Direction

Nifty settled at 24,578 , down by 1.39% on Tuesday. The index failed to attract follow-up buying above 24,800 , which acted as a strong resistance zone (as highlighted in our previous write-up dated May 2, 2025 ). It eventually closed well below this level, indicating the presence of selling interest near key resistance. Technical Overview: Nifty successfully tested the resistance zone of 24,800 and subsequently formed a bearish Harami pattern on the daily chart. This pattern coincides with a recent swing top and occurred near a resistance zone, thereby strengthening its technical significance. A large trading range was observed on Monday, May 12, 2025 , which suggests the possibility of a sideways move in the coming sessions. Despite the recent pullback, the intermediate trend remains bullish as the price is still holding above the 9 and 21 DEMA levels. Moreover, the 9 DEMA is placed above the 21 DEMA , confirming the uptrend. Key support is now seen in the 24,100–24,000...

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...

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...

LET THE MARKET TELL WHO WE ARE

Search This Blog