MCX Bullions road map for 25 July, 2012

Gold: closed at 29568, trading range 29300-29850, trend is sideways with bullish bias. Today 29510 will remain trend decider, stability above this level will remain supportive for bulls and it will try to hit 29640-650 zones. 29650 can act as resistance zones, stability above 29650 will take it to 29760 and more. Failure below 29510 may take it to 29475 but 29470-460 zones are good support failure will call for retest of 29400-380 zones.

Silver: closed at 52828, trading range 52200-53600, trend is sideways. 52800 will remain trend decider for the day, stability below 52800 will remain supportive for bears and silver may hit 52600-52350 but 52200 will remain key support for short term. Stability above 52800 will call for 53050-53100 stability above 53100 will take it to 53250-53500. Silver is not closing above 53100 on daily basis, closing above 53100 may trigger 1500-2000 points upside in silver.

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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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