LET THE MARKET TELL WHO WE ARE

Natural Gas closed at 152.30 down by 3.80 paisa yesterday after positive inventory data released by EIA which came 47B up by 27B against 20B prior. Yesterday’s fall was supported by 100-EMA and ascending trend line  at 149 otherwise it could lead further losses. immedaite resistance seen at 160 continue trading above this leve would signal recovery in this counter. support will remain at 149 breach of support would offer 142-137 as primary targets. recovery above 160 would signal resumption in uptrend and for likely targets 190-220 in short term Supports: 149/135 Resistances: 161-184 Recommendation: buying natgas above 161 for targeting 190-210-225 with stop loss below 154 might be appropriate.

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Gold: Oct gold on mcx closed at 30167, trading range 29800-30420, trend is sideways. Immediate support seen at 30100 failures would signal intraday weakness and gold will try to head towards 30000-29980 failure below 29980 may take it to 29930-850. Short term key support will remain at 29800. Immediate resistance seen at 30200 stability will take it to 30260-370 zones. Silver: closed at 53341, trading range 53000-54500, trend is sideways with bullish bias.  Today 52490 will remain important to watch, stability above 53500 will remain supportive for bulls and silver may head towards 54200-54300 zones for the day, key resistance will remain at 54500 for short term. Failure below 53490 may take it to 53200-53050 key support will remain at 52980 failure may trigger more weakness for the day. 

Gold: Gold Oct. contract closed at 30150, day trading range 29950-30300, trend is sideways.  Immediate support seen at 30100 failures would signal intraday weakness and gold may fall till 30000-29950 for the day. Key support will remain at 29900. Immediate resistance seen at 30200 stability may take it to 30200-30250 zones. Key resistance will remain at 30300 for the day. Silver: closed at 53228, trading range 52200-53600, trend sideways.  Silver is moving between ranges of 53000-536000 after breakout above 53100. Today 53000 will remain important to watch failure may trigger intraday weakness and it may try to taste 528850-650 zones for the day. Key support will remain at 52200 for short term. Key resistance seen at 52600 breakouts above this level will offer 54000-54300 as target area for very short term. Key resistance will remain at 54500 for short term. 

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. 

Gold: closed at 29835, trading range 29600-30050, trend is sideways with bullish bias. Today 29870 will remain important to watch stability above 29870 may take it to 29950-30050 zones. Short term key resistance will remain at 30200. Stability below 29870 may trigger profit booking and it may taste 29770-670 zones, below 29650 it may taste 29570-530 zones.  29450 will remain key support for short term. Silver: closed at 53453, trading range 5200-54000, trend is sideways with bullish bias. Today 53250 will remain important to watch stability above this level will trigger further bullishness and silver may taste 53550-53800. Key resistance will remain at 54500 for short term. Stability below 53250 will take it to 53050-52900 but 52850-52800 zones are looking good support zones and jump can’t be ruled out. Failure below 52800 may take it to 52600-52400 key support will remain at 52200.

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.