Bullion Intraday Road Map for Mar 27, 2012

Gold: currently trading at 1686.90 day trading range will remain between 1655-1710; very short term trend is up. Immediate resistance seen at 1695 consolidation above 1695 will take it to 1709-1716 zones. Intraday support at 1682 break will take it to 1670-1660 zones break below 1670 is less likely trader can look for buying opportunity on decline 1655 will remain key support for the day. Failure below 1655 less likely and this level can be a good stop loss for long trades.

Silver: currently trading at 32.74, day trading range will remain between 32-34.40. Intraday trend will remain up with high volatility. Immediate resistance placed at 33.10 sustainability above 33.10 would offer 34.30 zones as primary target for this swing. Immediate support placed at 32.50 failure below 32.50 will take it to 32.30-32 zones break below 32 is less likely entering in longs would be good idea during intraday declines. 32 and 31.50 are looking key support for short term bullish expectations.31.50 can be a good stop loss for longs taken around 32-32.30 zones for expected target around 34.30-34.40

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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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