Bullion Intraday Road Map for Apr 12, 2012

Gold: currently trading at 1658.36 day trading range will remain between 1630-1680; trend will remain up for intraday. Immediate support seen at 1650 failure will take it to 1644-1634 zones for the day. 1630 will remain key support, failure would signal negativity and gold will try to move towards 1618-1608 for the day. Major resistance for the day is 1666 stability above 1666 will take it to 1675-85 zones for the day.

Silver: currently trading at 31.58 day trading range will remain between 30.80-32.20; trend will remain sideways with negative bias till trading below 32.20. Immediate support seen at 31.30 consolidations below 31.30 will take it to 30.90-30.30 zones for the day, till trading above 30.90 sideways move expected between 31-32.10 stability above 32.20 would signal 32.70-33.10 as primary targets for bulls. 33.30 will remain key resistance for this downtrend.

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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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