Bullion Intraday Road Map for Apr 27, 2012

Gold: currently trading at 1655 day trading range will remain between 1624-1685, trend will remain sideways. Intraday important level to watch is 1660 stability above 1660 needed to confirm yesterday’s bullish move. Above 1660 if manage to hold then 1680-1685 can’t be ruled out for the day. Intraday support at 1644 stability below this level will take it to 1638-1632 zones. 1624 will remain key support in short term and outlook will remain bullish till gold holding above this support.

Silver: currently trading at 31.03, day trading range will remain between 30-32.30; trend is expected to remain sideways with negative bias. Intraday strong rest at 31.30 stability needed to move further upside immediate support seen at 30.70 stability below this may take it to 30.30-30 zones for the day. Above 31.30 if manage to hold then will try to move upwards till 31.90-32 but 32.30 will remain key resistance for very short term.

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LIC Housing Finance; time for bulls?

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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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