Bullion Intraday Road Map for Apr 04, 2012

Gold: currently trading at 1643, day trading range will remain between 1580-1665, intraday trend is down. Yesterday sharp decline seen from expected resistance zones of 1685 and gold dropped nicely and broken near term support of 1644. Now it has turned in to bearish zone for short term 1638-1624 is minor supports overall this bearish swing will remain open till 1610-1585. Intraday major resistance at 1666 sustainability above that will neglect bearish view.

Silver: currently trading at 32.29, day trading range will remain between 31.80-33.20; intraday trend will remain sideways with negative bias. Intraday resistance at 32.75 sustainability above 32.75 will take it to 33-33.20 but 33.20 will remain key resistance and silver must sustain above that level to move further upside. Intraday support at 31.90 consolidations below 31.90 will take it to 31.60-31 for the day.

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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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