MCX Bullions road map for 18 Jun, 2012

Gold: closed at 30154 on Saturday, day trading range is expected to remain between 29800-30300, trend will remain sideways. Gold having strong support at 30050 stability below 30050 would offer 29900-850 as target areas for short sellers. 29700 is expected to remain strong support for short term daily close below this 29700 will offer 29550-29100 as target areas in gold for very short term. Key resistance will remain at 30200 minimum 2 consecutive close needed above this level to for rally till 30700-31200 zones.

Silver: closed at 54553, day trading is expected to remain between 53100-55100, trend is sideways. Having strong resistance at 55000-55100 zones stability above these levels may trigger intraday bullishness and silver may try to head 55400-55700 and more upside. Key support will remain at 54300 stability below this level will trigger intraday bearishness and silver will try to head 53800-53500 zones. key support will remain at 53700 on daily closing basis.

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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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