MCX Bullions road map for 27 July, 2012

Gold: closed at 27793, trading range 29580-30050, trend sideways with bullish bias. Today 29780-800 zones will remain as trend decider stability above 29800 will be supportive for buyers and gold will try to head 29860 zones. Stability above 29870 may take it to 29915-30000 zones. Key resistance will remain at 29930 for the day. Stability below 29780 will remain supportive for bears and gold may head towards 29730-29660 key support will remain at 29590.

Silver: closed at 53217, trading range 52600-53600, trend is sideways. Today 53300 will remain trend decider stability below 53300 will remain supportive for sellers and silvery may hit 53050-52880 for the day. key support will remain at 52200 on daily closing basis. Above 53300 if silver manage to hold then it will try to hit 53550 zones minor resistance seen at 53600 stability above this level will take it to 53850-54000 key resistance will remain at 54500 for short term.

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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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