Silver Spot Longer Term Technical outlook

Silver international has been moving in a consolidation pattern ranging $26-$35 for more than 1.3 years. As per current scenario silver has key support at $28.30 failure of this support would offer a retest to 26$. Areas of $26 would be key support and penetration of this support would offer areas of $21 and then $19 as primary supports in a time frame of 1-3 years. MACD is fluctuating near zero line and stability below zero would be added advantage for silver bearish. Areas of 32.50 would remain key resistance for this outlook and recoveries above the same may hurt our longer term bearish expectations in silver. Currently trading at $28.68.

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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...

Will Gold be Cheaper or Sky Rocket till Diwali?

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