LET THE MARKET TELL WHO WE ARE

As per this trade setup gold is trading at 1507.90 and 14 period RSI has broken previous support on weekly chart and its 14 period RSI is moving in a channel since Nov, 2009 and weekly RSI has broken its previous support that is suggesting  momentum  remains negative and weekly close below 1508 would signal a decline till 1422-1430 in medium term. A minor support can take place around 1460 also and a weekly close above its horizontal resistance above 1555 would signal a failure in down trend and immediate small resistance seen around 1532 levels. Low risk trader can use that level as their stop loss in their short sell. 

CMP $4.460 as per daily chart counter is moving in accending triangle and as per this triangle primary support is around 4.040 for this session if natgas hold to manage below this level then we will see a retest of 3.70 and 3.30 in coming days.. but 4.00 is looking a reversal point and it may act as good support and reversal from that area will confirm new highs for the year.. and may rally up to 5.22 and 6.00 till nov. dec. as per this triangle we can expect a retest of 4.26 that is support of resing trend line there trader can use 4.00 as sl if want to go long in this counter for tgt of 5.20-6.00 in comming days.. a break below 4.040 will completly neglact this bullish view 

Nifty is trading in a range between 5480-5600 with positive bios, and it has a immediate resistance around 5600-5610 area, and making inverse head and shoulder type formation on daily chart and 5610 zone is neck line resistance as per this formation and 5565 is it's 50 DMA that is itself a resistance and nifty is struggling to hold this level from last 2 trading days a closing above 5565-70 will be another confirmation for a breakout above 5610, and once if nifty manage to hold above 5610 zones then it will fly for 5880-5900 in near term. For this view trader can use 5450 as a potential support on daily closing basis and that can act as good stop loss for bulls. All in all technically nifty is looking good to buy at these levels for targeting around 5700- 5900 in near term. Note: this analysis report is based on spot nifty daily chart.

As per this chart setup it seems that silver is moving a down trend for medium term that has been started since top of $49.785 made on 25-04-2011 and now moving in a channel after a bottom of 32.295 that made on 12-05-2011. This types of channel are known as bearish rectangle in the terms of technical analysis and if this time silver mange to hold below 32.90 then it will signal a resumption to its previous down trend that has been started since 25-04-2011 and this time silver may fall towards 26 to 24$ in near term but 31$ is looking a minor support there we can see some consolidation otherwise silver will try to head towards 26$ but a penetration of 26 that is horizontal support will supply more power to bears and silver may fall more till 22-18$ but after breaking that support only still looking weak on daily chart trader can use 39.30 as stop loss for their shorts for our expected target .