Skip to main content

MCX Bullions road map for 09 July, 2012


Gold: closed at 29621, day trading range between 29400-29840, trend will remain sideways with negative bias. Today 29600 will act as trend decider stability above 29600 will take it to 29690-29700 zones.  Stability above 29700 may take it to 29790-830 zones. Key resistance will remain at 29850 stability would offer short term rise that will take it to 30130 and more upside. Stability below 29600 will take it to 29530-460 zones. Key support will remain at 29400 close below 29600 would signal 29100-29000 zones as primary supports.

Silver: closed at 53167, day trading range 53000-54500, trend sideways. Key support seen at 53000 stability would signal more weakness and silver will try to hit 52200-51300 zones. Above 52900 till silver manage to hold is likely to hit 53600-53700 zones.  Stability above 53700 may trigger more bullishness and silver may hit 54000-54000 key rest will remain at 54500 close above 54500 would signal recovery from short term down trend. 
Labels:

Comments

Post a Comment

Popular posts from this blog

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...
Post a Comment
Read more

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. 
Post a Comment
Read more

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...
Post a Comment
Read more