LET THE MARKET TELL WHO WE ARE

Today copper February contract on mcx has broken its resistance of 402 and confirmed a short term bullish breakout with an inverse head and shoulder pattern. MACD above 0 lines with bullish crossover supporting our bullish view. Retest of previous resistance can’t be ruled out but copper has defined 378 as very strong support and buying around 390-395 area would be a good trade decision with stop loss of 378 on daily closing basis for expected targets around 430-445-465 in midterm.  In case of any type of trend change we will update you buying around said price range will be good entry.  Or u can accumulate with small quantity till said stop loss price but best buying zone is 395-390 or below this range only. 

Gold: currently trading at 1722.62, day trading range will remain between 1698-1740. Immediate strong resistance seen at 1727. Trend will remain sideways. Immediate support seen at 1711 below that 1703 possible. 1703 will act as very important support for the day below this level selling pressure may be there in streets. Buying around 1714 can be a good trade with stop loss below 1703 for targeting around 1732-40. Selling possible only below 1703 with strict stop loss above 1714 for expected down side targets around 1686-1666-1655. Otherwise selling near upper band of trading range can be good idea. Silver: currently trading at 31.84 expected trading ranges will remain between 31-32.30. Silver facing a very strong resistance at 32.30 above this resumption to a bullish swing possible that will take it to 33-35 in near term. Break below 31.35 is less likely but failure below that would confirm decline till 30.95- 30.50. 30.50 is still looking a key support and break below this level wi...

After a rising wedge failure silver headed towards 30.65 last week where we were expecting 30.50 as strong support for further down side. After looking at 240 min chart it seems that silver has broken out down sloping trend line resistance of descending triangle. Now facing resistance at 32.30 due to low buying interest of crowd. MACD near zero line suggesting 32.30 as a very stiff resistance a breakout above 32.30 would confirm an advance till 33. 33 is also looking very important level to watch as this is 38% retracement previous bearish swing from 44 to 26. Breakout above 33 would confirm an advance till 36-36.40 in near term. Till silver trading below 32.30 ranges bound moment expected in short term break below 31.40 is less likely, break would confirm decline till 31-30.50 in very short term. Further down side till 29.60-26.60 area only possible below 30.50. We expect the rising wedge pattern may affect this counter negatively which in result drives us to stay away till silver tra...

Gold: currently trading at 1710, day trading range will remain between 1680-1740.Trend will remain sideways. Immediate support seen at 1705 below 1705 fall till 1698-1692 can’t be ruled out. 1699 will act as midpoint of this trading range bears will remain aggressive below 1699. Till gold trading above 1705 gold will remain bullish and major resistance for the day are 1722-27-1740. Silver: currently trading at 31.91, day trading range will remain between 30.50-33. Yesterday nice selling seen near our expected resistance are of 32.30 and silver entered under 32, today further  upside only possible above 32.30 other wise bears will remain aggressive. Immediate support seen at 31.75 failure below this support silver will try to taste 31.30-31 are during the day. Major resistance for the day will remain at 32.30 above this rally will take it to 32.60-33 during the day. Intraday trend will remain sideways. 

Gold: currently trading at 1704.93, intraday trading range will remain between 1680-1740. Immediate resistance seen at 1714 range hourly closing above 1714 would signal rally up to 1727-1740 for very short term. Immediate support seen at 1700 failure below 1700 would signal and declines till 1690-1680 zones. Trader can take long positions around 1702-1704 with s strict stop loss below 1697 for expected targets around 1713-1725 during the day. Silver: currently trading at 31.66, day trading range will remain between 30.50-32.60. Silver is taking very strong support near 30.50 zones and its 2 nd time when silver jumped from that support area.  Today also 31 and 30.50 will act as very strong support zones further fall only possible below 30.50 other wise rally may take it to 32.60 during the day. Immediate support seen at 31.30 below this fall till 30.90 zones can’t be ruled out, 30.50 will remain major support for short term. Immediate resistance seen at 31.90 above that intr...

Gold: Currently trading at 1694.5, day trading range will remain between 1660-1715. Immediate support seen at 1684 breach below this would signal downward momentum till 1675-1665, major support for the day is 1665 below this fall till 1635-1632 area can’t be ruled out. Immediate resistance seen at 1702 penetration above this would signal an advance till 1710 major resistance for the day is 1710 if gold manage to hold above 1710 then 1725 would be next expected level. Silver: currently trading at 31.77, day trading range between 30.50-32.60. Till trading above 31.40 it will try to move towards intraday resistance 32.60, above 32.60 major resistance seen at 33 for the day. A failure below 31.40 would invite sellers and silver will try to head towards support zones that are around 31-30.50 below 30.50 it will open the doors for 29.60-26.65 for coming days. Copper  COMEX: currently trading at 3.2775, day trading range will remain between 3.0000-3.3700. Immediate resistance s...

Gold: currently trading at 1691.03, day trading range will remain between 1660-1715. Trend will remain down for very short term time frame. Immediate resistance seen at 1702 above this intraday reversal possible tills 1710-1714 area, 1727 will remain very crucial resistance for this week. Till gold trading below 1715 during this week its likely to taste 1640-1632 range. Immediate support seen at 1683 below these next important levels is 1675-1663 below 1663 next important level at 1632. Intraday important level to watch is 1702 till gold trading below this it’s looking weak for the day. Silver:  currently trading at 31.65 intraday trading ranges will remain between 30.50-32.60. Trend will remain week and immediate resistance seen at 32.10 above that rally my take it to 33-33.60 till trading below 32.10 silver looking weak and try to taste 31, 31 is important support a failure below 31 will take it to 29.60 and more down side. Important level to watch for the day are 30.70 fa...