MCX Bullions road map for 20 Jun, 2012

Gold: closed at 30214, day trading range 29950-30370, trend sideways with bearish bias. Today 30270 will remain intraday trend decider above that if manage to hold then gold will try to head towards 30340-30440 zones. Above 30440 if manage to hold then it will open doors for 30600-31000 in short term. Stability below 30270 will be supportive for intraday bears and likely to taste 30120-30000. It is likely to take minor support around 29970-980 zones if manage to break that support then intraday decline till 29880-850 zones can’t be ruled out.

Silver: closed at 54465, day trading range 53600-55300, trend down. Yesterday silver was attacking key resistance of 55300 but was not able to break that level and nice decline seen from resistance area. Today trend decider level will be 54650 stability above this level may trigger intraday recovery and silver will try to head towards 55000-55200 zones, stability above 55250-300 will take it to 55500-55900 for the day. Support seen at 54250 failures will take it to 53950-53700 zones. 53700 will remain key support on daily closing basis.

Comments

Nifty Struggles at 24800: What Options Data Tells Us About Market Direction

Nifty settled at 24,578 , down by 1.39% on Tuesday. The index failed to attract follow-up buying above 24,800 , which acted as a strong resistance zone (as highlighted in our previous write-up dated May 2, 2025 ). It eventually closed well below this level, indicating the presence of selling interest near key resistance. Technical Overview: Nifty successfully tested the resistance zone of 24,800 and subsequently formed a bearish Harami pattern on the daily chart. This pattern coincides with a recent swing top and occurred near a resistance zone, thereby strengthening its technical significance. A large trading range was observed on Monday, May 12, 2025 , which suggests the possibility of a sideways move in the coming sessions. Despite the recent pullback, the intermediate trend remains bullish as the price is still holding above the 9 and 21 DEMA levels. Moreover, the 9 DEMA is placed above the 21 DEMA , confirming the uptrend. Key support is now seen in the 24,100–24,000...

First step towards becoming Financial Independent...

Success is not getting a highest paying job but success is when you get enough free time for yourself you can do whatever you want you can go wherever you want to go without concerning about your job and effecting your lifestyle. Generally people waste their early age in preparing for govt. Jobs and they put their energy and time for preparing job but among those only few people get the govt. Jobs and rest stay jobless with wasted time of 3 to 5 years of their graduation and mostly spend their life jobless or with mediocre salary. In India people In their early age after graduation don't have much pressure from family for earning and they usually use this time to prepare for competitive exams for job and take some courses and among them only few people get job and rest remains jobless and then they keep blaming the system for their unemployment. Let's take an example to understand magic of starting earning and saving in early age. Because in ea...

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...

LET THE MARKET TELL WHO WE ARE

Search This Blog