MCX Bullions road map for 19 Jun, 2012

Gold: closed at 30311, day trading range 30050-30580, trend is up. Yesterday gold closed above its key resistance of 30200 supporting bullish outlook that may take it to 30600-30700 during this move. Immediate support seen at 30240 failures may take it to 30200-190 zones but 30190 will be trend decider stability below 30190 will supply more weakness and it may try to taste 30100-29950 during the day. Above 30190 trend will remain up and gold is likely to hit 30440-550 zones. During the day.

Silver: closed at 54923, day trading range 54200-55500, trend is up. Yesterday silver made low 54253 as day low but was not able to hold below key support of 54300 as I have written in my previous post. Immediate support seen at 54700 stability below 54700 may trigger more weakness and it may try to taste 54450 zones for the day but 54300 will remain important in intraday and 53700 on daily chart. Stability above 54900 will be supportive for bulls and silver will try to head towards 55200-55500 zones 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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