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...

Gold: yesterday nice rebound seen in gold from bottom line of 1666 and nicely jumped till 1705.49 our 2nd target of 1710 just missed by $5. Currently trading at 1707.65, day trading range will remain between 1660-1730. Immediate resistance seen at 1715 penetration above 1715 would signal intraday rise till 1726-1740 zones. Important level to watch for today is 1727 closing above 1727 would confirm short term reversal and 1665 will remain important support and gold will try to resume up trend for targeting 1925 and more in midterm. Immediate support seen at 1695 breach of this less likely, but would signal 1685-1675 for the day. Sell trade possible with strict stop loss of 1727 best selling zone around 1715. Above 1727 if gold manage to hold then don’t remain short in gold. Silver: currently trading at 32.58, intraday trading range will remain between 31.40-33.90. Immediate support seen at 32.30 below this 32 will act as very important support below this no major support till 31....

Gold: currently trading at 1687.54 trading range will remain between 1640-1740. Immediate support seen at 1675 current swing may take it to 1697-1710 area a breakout above 1715 would signal an advance till 1738-42. A breach of intraday immediate support of 1675 would signal a intraday downward move till 1668-66 and a break below this important level would take it to 1640-1620 area for the day. As per current scenario we will suggest traders to buy around 1680-82 are with stop loss below 1675 for targeting around 1697-1710 during the day. Intraday selling may appear near resistance area 1710-15 zones. Short sellers can use 1715 as stop loss if want to create shorts near resistance area of 1710-15 zones. Silver:  currently trading at 31.47as per daily chart trend will remain weak and silver may taste 26.70 during this weakness. But silver is still holding our 1 st expected support of 30.50. As written in my blog post on November 17, 2011 . Day trading range will remain betwee...

Gold: currently trading at 1723.09, trading range will remain between key supports 1680 to 1768. Immediate important support seen at 1710 below 1710 retest of 1680 is possible during day trading. 1742 will be major resistance above 1742 gold will try to taste 1765 zones. Till gold trading above 1714 good for buyers and rise expected till 1734-40-65 but 1740-42 zones will remain strong resistance area for day trading below 1710 an intraday selling pressure can’t be ruled out. Silver: currently trading at 32.18, trading range will remain between 30.70-33.60 areas.  Short term trend will remain down major resistance at 33.70 for this view. Immediate support seen at 31.80 till silver is trading above 31.80 looking safe for buyers and try to taste immediate resistance around 32.60 penetrations above 32.60 would confirm a rise till 33-33.60 during the day but 33.20 can act as very stiff resistance in intraday. Below 31.80 selling pressure can’t be ruled out and would signal a intr...

Gold: yesterday huge selling seen in gold as per our expectations. Currently trading at 1725 after making a low of 1710.46. Trading range will remain between 1680-1750. After yesterday sharp fall today we can see a rebound in market and gold may taste upper band of today trading range overall 1770 will remain key resistance for short term selling on rise can be good idea because technically 1705-1695 range is still due as per our expectations. Silver: yesterday nice selling pressure seen as per our mapped trend and silver made low 30.95 where we were expecting 30.50 as my 1 st target. Currently trading at 31.48 day trading range will remain between 30.50-32. Sideways moment expected for the day some jump can’t be ruled out during day trading because its reached in over sold zone on very short term intraday charts technically trend is down yesterday it has formed rising wedge breakout that is the sign of resumption in previous down trend silver expected targets are 28.70-2...

As per daily silver is facing resistance at 50% fib retracement on previous bearish swing and its 60 days SMA around 35.32. Bearish cross over on MACD near zero line also suggesting some bearish environment. Silver having a psychological support at 33 breach of this level would signal a decline till 30.50 and 28 in coming days. Silver moving in a rising wedge on daily chart and 33 is support of this rising wedge. Rising wedge are always works as continuation pattern during down trend. These all ways are suggesting that this counter will remain in control of bears in coming days but we need a confirmation below 33 on daily closing basis. 35.40 will remain strong resistance for this view for targeting around 30.50-28.50 and 26.70 in coming days. 

Gold: Currently trading at 1760, like yesterday intraday trading range will remain between 1745-1790. Trend will remain sideways till trading in this range break below 1745 would signal a decline till 1725-1705 but 1680 will remain a key support for short term. Immediate resistance seen at 1770 above 1770 intraday next resistance at 1790 that will be act as key resistance. Currently trading near support area so here is a good chance for risk lever to entering in longs around 1755-60 range with stop loss of 1745 for expected rise till 1770-1785 for the day. Silver: currently trading at 33.80, intraday trading range will remain between 33-34.60. as per my yesterdays road map silver was not able to cross said support of 33.60 and resistance of 34.60 nice movement seen between my said range. On daily basis 33 is very important to watch if close below 33 then this short term trend will fail and silver may fall till 30.50 and more down side. Intraday 33.50 looking good support trade...

As per daily chart of crude oil it seems that 103-106 zones are still very stiff resistance zones in crude. Nice rally seen above 91 as I have written in my previous post of crude now stochastic indicator with overbought reading suggesting that reversal is near and a correction in this bullish wave till 95-94 area can’t be ruled out in short term. Penetration above 106 in near term is less likely failure near resistance would signal short term bearish activity for targeting around 95 in near term trader can avail the opportunity with selling around 102-103 zones with a stop loss above 107 on daily closing basis for our expected support  area around 95-90. On 4 hour time frame stochastic with bearish divergence suggesting that top is near and selling may take place any time 98 can act as minor support below this fall till said support will be in streets. 

As per 4 hour chart gold is weakening technically and it seems that below 1750-45 area this can attract more sellers. Respect of 1745 zones is less likely, failure would confirm a decline till 1705 zones. 1790 zones will remain key resistance above 1790 bullish move can’t be ruled out for 1819-1840 primary trend on midterm will remain bullish short term selling pressure can’t be ruled out below said support. Bearish divergence on MACD indicator is suggesting big money is not flowing in market. Below 1745 2 major reasons will attract big players that are failure of support and MACD falling below 0 line confirming a strong failure below expected support. 

Gold : current price 17658.20, day trading range will remain between 1745-1800. Yesterday gold was not able to cross 1788 my said resistance area and nice selling seen from upper band of trading range.  Immediate support 1765 below 1765 It will try to taste 1755-45 area below 1745 some sharp decline can’t be ruled out. Till gold not closing above 1805 I m still expecting 1705 in coming days. 1788 will remain key resistance for the day above this 1800 and more upside can’t be ruled out. Immediate trading band seen between 1765-1788 breaks above and below these range would confirm further trading range for the day. Silver: currently trading at 3423 day trading range between 33-35. On daily chart MACD getting ready for bearish cross over near 0 line is suggesting a break below 33 would signal resumption to down trend and fall till 30.50-28-26-23 can’t be ruled out in coming days. Intraday immediate support seen at 34 below 34 it will try to taste 33.60-33 area for the day. Resi...

Gold: currently trading at 1778.45. Just respecting my said support zone around 1774. Day trading range 1745-1800. Range bound moment expected between 1745-1800; immediate support seen at 1770 it will remain open for retest of 1755-45 zones during the day. Trading below 1745 for some time will invite more sellers and selling pressure may take it to 1710-1705 levels. Resistance at 1788 above 1788 it will try to taste upper band of the range around 1800-1802 trading above 1802 for some time will support bulls and gold will resume its  bullish trend for 1820-1849 in near term. Buying in dips around 1705 can be good entry for buyers and selling on rise around 1796-98 can be good trade for the day. Silver: currently trading at 34.19, Day trading range will remain between 33-35. Silver struggling near rising trend line support with losing momentum. Immediate support seen at 33.90 below this major support for the day is 33 failure below 33 will open down side range till 32 in short...

Gold: as per daily chart we are trading with a strong up trend in gold. Currently trading at 1793 day trading range between 1748-1820, short term trend will remain bullish minor resistance at 1805 above that trading range will open for 1820-1849 in coming days. Major support seen at 1774 below 1774 day trading range will remain open for 1762-1752. Weekly trading range will remain between 1680-1890. Silver: intraday trading range will remain between 33.70-35.50, currently trading at 34.79 trends will remain bullish and silver will try to taste 37 during this week. 35.30-35.70 area will remain resistance zones. 2 consecutive closes above 35.40 on 4 hour chart would confirm this rally till 37 and more upside. 33.80 will remain very strong support for current move for targeting around 35.40-35.70 zones. But further move will confirm after closing above said level. Bios are positive trend is strong up closing above said level will supply more power to our said view. Buying in dips ar...

Gold: gold trading at 1766, day trading range 1703-1792. Intraday trend will remain sideways. Immediate resistance seen at 1778 above 1778 rise possible till 1792 and more 1805 will remain key resistance for this down move. Immediate support seen 1748 hourly closing below 1748 would signal decline till 1725-1704 are. Buying near lower levels of day trading range will be good idea. Our 9 th November sell call from 1790 has done our both expected targets yesterday. Silver: trading at 34 yesterday nice rebound seen from our key support and silver closed above 34 after making a low of 33.15. Intraday trend will remain sideways. Day trading range will remain between 33-34.40, immediate support seen at 33.70 below 33.70 a retest of lower band around 33.20-33 range is possible, 34.40 will act as key resistance for the day above 34.40 a rise till 34.90-35.30 area can’t be ruled out. 33 will remain key support for this bullish wave and a daily closing below 33 will destroy this bu...

Gold: nice selling seen in gold yesterday and it has done our 1 st target of 1766 as given in our morning market road map, currently trading at 1761, day trading range 1749-1800, immediate support seen at 1749, reversal from 1750 area would signal another fresh advance for new highs that will take it to 1820-1842 zones. 1749 is important to watch failure below 1749 would signal a decline till 1725-1704 area. Trader can look for buying near lower band of this range. Silver: currently trading at 33.81, day trading range is 33-35, as per daily chart it seems that selling pressure may continue in silver and selling on rise can be a good decision for the day 35$ will remain strong resistance for the day . Immediate support seen at 33.20 below this a fall till 32.80-32.20 can’t be ruled out on intraday 240 trend is down. Current move is looking bullish and a rebound from this bottom can’t be ruled out trader can go long at current price 33.83-33.75 for targeting 34.15-34.60 w...

Gold: currently trading at 1791.76, day trading range between 1740-1840. Immediate resistance seen around 1805, below 1805 very short term trend will remain sideways. We will see consolidation between 1760-1805. Above 1805 rally will extend till 1819-1840 for the day. 1780 will remain key support for the day below 1780 it will try to taste 1760-1745 zones for the day. Possible trade: Selling around 1790-95 for targeting 1766-1746 stop loss with 1805. Silver:  currently trading at 35.12, day trading range will be 34.40-35.90. Intraday trend will remain bullish. Immediate support seen at 34.70 below 34.70 it will try to taste 34.40 and 34.40 is the major support for the day below 34.40 further down side possible otherwise silver will remain open for  resistance area 35.40-35.90 for the day. Immediate resistance seen at 35.40 above this 35.90 possible for the day.

Gold: currently trading at 1791.76, day trading range between 1740-1840. Immediate resistance seen around 1805, below 1805 very short term trend will remain sideways. We will see consolidation between 1760-1805. Above 1805 rally will extend till 1819-1840 for the day. 1780 will remain key support for the day below 1780 it will try to taste 1760-1745 zones for the day. Possible trade: Selling around 1790-95 for targeting 1766-1746 stop loss with 1805. Silver:  currently trading at 35.12, day trading range will be 34.40-35.90. Intraday trend will remain bullish. Immediate support seen at 34.70 below 34.70 it will try to taste 34.40 and 34.40 is the major support for the day below 34.40 further down side possible otherwise silver will remain open for  resistance area 35.40-35.90 for the day. Immediate resistance seen at 35.40 above this 35.90 possible for the day.

As per daily chart silver is moving in rising wedge, normally these patterns are known as trend reversal pattern but some time these pattern works as trend continuation also. As per this trade setup rising wedge seen after a nice bearish move from 44.18 to 26.08. As per this chart analysis now we can expect that short term advance will remain continue till 37-37.50 this area can act as key resistance area or we can say that resistance line of this wedge can act as a nice reversal zone around 37$. For this view 34.40 will remain key support and failure of this wedge will occur below 32.75 after a break below 32.75 another sharp down move can’t be ruled out after that silver will try to taste 22$ if moves in our expected way as per this trade setup. Stochastic indicator with overbought reading is also supporting 37 zones as key reversal area. Very short term trend will remain continue and 36.80-37.40 will be target for buyers. 34.40 will remain key support for this view, fai...

Gold : currently trading at 1792, day trading range between 1760-1820, trend will remain bullish for the day.  Immediate support at 1780 retest of 1780 is possible during the day but below 1780 if gold manage to hold for some time then selling pressure may take it to 1760-1748. Immediate resistance at 1795 above 1795 intraday rally will take it to 1805-1815-18. Selling near upper band of day trading range can be good idea for day traders. Silver : currently trading at 34.80, day trading range 33.75-35.70. Intraday tend will remain sideways. 34.40 is looking nice immediate support below 34.40 it will try to taste lower band of day trading range around 34.10-33.80 major trend fail possible only below  33.75 other wise this swing will remain open for upside targets around 37-39 in short term. Intraday resistance seen at 35 above 35 it will try to head towards 35.60-35.80 zones for the day. USD/INR: currently trading at 49.285 pair is trading in uptrend and ma...

Silver comex moving in a channel a ascending triangle and it has broken out the up sloping  trend line of this triangle that is suggesting a big selling may take place below 33.75 mark. This fall may take it to 33.20-32.40 trader can use 34.40 as stop loss in there sell after failure below 33.75 currently trading at 33.91

Gold:  day trading range 1722-1790, currently trading at 1759. Immediate support seen at 1754 below this likely to taste 1744-1722. Intraday resistance at 1768 if manages to hold above this then 1788-1800-1819 is possible targets. Reversal can’t be ruled out from upper band of today’s price range. Silver: currently trading at 34.36 day trading range is 33.50-35.50. Immediate support seen at 34 and resistance at 34.60 breaks above 34.60 will take it to 35-35.50. Below 34 it will try to taste 33.50 and more down side. Reversal from upper band is likely. We will update u when to enter in shorts. 

Breach of the down sloping trend line resistance is suggesting descending triangle breakout respect of horizontal support at 3.4700 would offer an advance till 3.8155. MACD signal line crossover above 0 lines suggesting valid breakout. A failure below 3.4700 is less likely, a fall till 3.3000 and more down side can’t be ruled out after failure below support 3.4700.

Gold Comex: Intraday trading range 1700-1750, immediate support at 1718 break below 1718 will take it to 1711-1702 for the day below 1700 retest of 1680 zones possible, intraday trend sideway, till trading above 1717 retest to 1740-1754-1765 zones is likely. Major resistance for the day is 1754 a penetration above 1784 would confirm an advance till 1810-19 ranges. Comex Silver: day trading range between 32.70-34.70, current price 33.79 immediate resistance seen at 34.40 above 34.40 it will to taste 34.780-35.10 ranges. Break below 33.30 will support bears to push it till 32.80-32.70 zones.

Gold comex: currently trading at 1724 expected trading range is between 1678-1745. 1732 is still looking a good resistance above 1732 possible levels for the day is 1744-1758. Intraday trend will remain sideways with negative bios. Immediate support seen at 1711 below 1711 expected levels are 1700-1678. Break below 1678 is less likely penetration of support would signal a decline till 1655 zones. Silver comex:  currently trading at 33.36, day trading range 32-33.70. Intraday trend sideways with negative bios. 33.80 is important level to watch for bulls. Till trading below 33.70 retest of 33-32.60 levels are possible. Below 32.30 intraday selling pressure expected, penetration would signal a decline till 31.80-31.20. Breakout above 33.70 would signal bullish wave for expected targets 34.20-34.80.  INR/USD: currently trading at 49.365, intraday trading range is 49-49.60 bios are positive rise till 49.60 can’t be ruled out. Intermediate trend is still up in this pair. ...

Gold comex : intraday expected trading range between 1690-1730. Yesterday range bound moment seen in gold between ranges of 1730-1703. Today also 1703-1730 ranges will play important role for day trading. Intraday trend will remain sideways a break below 1693 would confirm a intraday decline till 1670-1660 ranges a respect of 1693 would confirm bullish move to be continue for 1730-1760. Till gold trading below 1732 zones intraday very short term trend will remain down and break of 1693 is likely above 1732 crossover can neglect this intraday bearish view. Silver comex: silver expected intraday trading range between 34-35. Silver is still bounded in a range between 34-34.65 and taking nice support at 34 areas. Penetration of 34.65-34.70 zone is likely a respect would confirm a retest of 34.10-34 zones. Above 34.70 intraday 35-35.60 possible.