LET THE MARKET TELL WHO WE ARE

Gold: currently trading at 1661.22 day trading range will remain between key support 1620 and resistance 1710; very short term trend is up. Immediate resistance seen at 1666 stability required above this levels to confirm a bullish move till 1682-1703 zones. Immediate support at 1653 failure will take it to 1645-1643 zones. Key support will remain at 1640 consolidation below this mark will take it to 1635-1630. 1628 is weekly support and failure below this support may destroy bullish expectations in gold and it will try to move towards 1590-1540-1516 zones. today range bound moment expected between range of 1644-1666 break above 1666 would signal activation of bulls in gold. Silver: currently trading at 32.22 day trading range will remain between 31-33.20. Very short term trend will remain sideways. Immediate resistance seen at 32.40 above 32.40 rallies expected till 32.80-33.10 for the day. 33.20 will remain key resistance and consolidation above 33.20 would signal a primary ra...

Gold: currently trading at 1660, day trading range will remain between 1624-1710, very short term trend is up. Strong support seen at 1655-54 zones break is very less likely but failure may take it to 1645-1635 zones for the day. Immediate resistance seen at 1666 penetration above 1666 will take it to 1675-1685 for the day. Silver: currently trading at 31.99, day trading range will remain between 31.50-33.20, trend is sideways. Silver having strong support at 31.50 failures may take it to 31-30.50 for the day. Immediate resistance seen at 32.20 consolidations above 32.20 take it to 32.45-32.75 for the day. 33.20 will remain key resistance for targeting 34.40. Bears will remain active till silver trading below 32.20 for the day. Note: till gold trading above 1655 and silver 31.80 on daily closing basis our outlook will remain bullish on both counters. 

Gold: currently trading at 1679.81, day trading range will remain between 1655-1703; very short term trend is up.  Immediate resistance seen at 1688 sustainability above 1688 will open the doors for 1697-1708. Intraday supports are 1664-1655 retest of 1666-1664 zones can’t be ruled out and 1655 will remain key support for the day. Recommendation: Traders can look for buying around 1660-165 area for targeting around 1690-1708 with stop loss of 1655 on daily closing basis might be appropriate. Silver: currently trading at 32.53 day trading range will remain between 32-34.50, trend will remain sideways. Silver having important support at 32.35 failures may take it to 32-31.80 but 31.80 zones will be potential reversal zones. Sustainability below 31.80 would neglect our reversal expectations and fall may take it to 31.30-31 for the day. Immediate resistance seen at 32.68 above this retest to recent high of 33.10 possible. Respect of support area around 32 would increase more...

Copper future on COMEX is trading near critical resistance of $4.0000, sustainability above $4.0000 would offer 4.4000 zones as primary target, immediate support seen at 3.7525 failure below this support area may neglect our bullish expectations. 14 Periods RSI above 50 and MACD above 0 line are suggesting bullish breakout above resistance area is likely. Symmetric triangle after a nice up move also supporting our bullish expectations and after confirmation of breakout we will see a nice up move in copper. Recommendation:  we will remain neutral and waiting for breakout to ride copper bulls. 

Gold: currently trading at 1686.90 day trading range will remain between 1655-1710; very short term trend is up. Immediate resistance seen at 1695 consolidation above 1695 will take it to 1709-1716 zones. Intraday support at 1682 break will take it to 1670-1660 zones break below 1670 is less likely trader can look for buying opportunity on decline 1655 will remain key support for the day. Failure below 1655 less likely and this level can be a good stop loss for long trades. Silver: currently trading at 32.74, day trading range will remain between 32-34.40. Intraday trend will remain up with high volatility. Immediate resistance placed at 33.10 sustainability above 33.10 would offer 34.30 zones as primary target for this swing. Immediate support placed at 32.50 failure below 32.50 will take it to 32.30-32 zones break below 32 is less likely entering in longs would be good idea during intraday declines. 32 and 31.50 are looking key support for short term bullish expectations.31.50...

Sign of bullish 5-0 harmonic pattern has appeared on nifty 240 min chart, which completes at 5081. Currently NIFTY future trading at 5214 and stochastic indicator entering below 20 suggesting that weakness will remain continue and NIFTY may taste 5140-5080 zones during this weakness. We are expecting that 5080 zones can act as good reversal area. Recommendation: buying nifty between 5140-5080 for targeting around 5400 and more with stop loss of 4900 on daily closing basis might be appropriate.

The black gold moving up nicely since Oct. 2011 and made high of 110.54 during this rally. Recently a bullish breakout seen above 103 but due to low buying interest at these levels crude was not able to establish any big move and trading between ranges of 103-110 since February 17, 2012. Now bearish divergence on 63 momentum indicator suggesting a big selling pressure ahead in crude. Momentum indicator has already broken ascending trend line with bearish divergence has already given ultimatum to crude oil bulls for short term. 63 momentum indicators below 0 would signal a strong down trend for short term and crude may taste 95-90 zones again. Before further upside. Key support for this view will remain 103 and resistance will remain at 112

Gold : currently trading at 1649, day trading range will remain between 1630-1685, trend will remain sideways with negative bias. Immediate resistance at 1658 consolidation above 1658 will take it to 1668-1670 zones. 1685 will remain key resistance for day, gold must sustain above 1685 to establish a bullish move.  Immediate support seen at 1638 consolidation below 1638 would offer 1628-1617 zones as primary supports. Silver: currently trading at 32.08 day trading range will remain between 31.50-33.10 trend is sideways with negative bias. Silver is likely to taste 31.60-31 zones during current move but consolidation above 32.50 zones can negate these bears expectations and silver may move towards primary resistance 33.10 and 33.80 till trading below 33 expected supports are 31.50-30.30

Gold: currently trading at 1652.15, day trading range will remain between 1630-1682 trend will remain sideways with negative bias. Immediate resistance seen at 1658 till gold trading below 1658 likely to taste 1640-1634 for the day, 1633 will remain key support consolidation below this will take it to 1624-1616 for the day. 1658 above gold will try to taste 1668-1675 area but 1678-82 zones will remain very strong resistances and further upside it will confirm only above 1682. Silver: currently trading at 32.14 day trading range will remain between 30.50-33.10; trend will remain sideways with negative bias. Immediate resistance seen at 32.50 above this silver will try to taste 32.90-33 zones. But 33.10 will remain key resistance consolidation above 33.10 would signal short term recovery in silver. Key support seen at 31.50 failures will take it to 31-30.50 zones.

Gold: currently trading at 1657 day trading range will remain between 1634-1666; trend is sideways with negative bias. 1640-1620 zones are PRZ (Potential Reversal Zones) for gold. Yesterday gold made high 1669.43 but was able to hold above 1666 for some to confirm continuation of bullish swing. Today 1650 zones will remain important support failure would take it to 1642-1634 zones. Consolidation below 1634 would signal more down side till 1628-1620 zones. 1666 will remain key resistance for the day and consolidation above 1666 would offer 1681-1700 as target area. Note: we are trading in potential reversal zones. so down side is limited as per current scenario so we have to look for buying around 1630-1620 zones and have to avoid selling on lower levels. Silver: currently trading at 32.69 day trading range will remain between 31.50-33.50; trend will remain sideways with negative bias. Yesterday silver was also not able to hold above 32.90 our said resistance and turned back ...

Gold: Weekly: currently trading at 1663, weekly trading range will remain between 1590-1720 with sideways trend. 1716.64 will remain key resistance for this week and gold must sustain above 1717 to confirm recovery. Otherwise weakness will remain continue and look for selling on rise till gold not manage to hold above 1717. Key support seen at1620 area break of this level is very less likely but failure would signal 1590-1575-1500 in short term. Intraday: day trading range will remain between key support 1634 and resistance 1682, trend will remain sideways. Immediate strong resistance seen at 1666 consolidation above 1666 would offer 1676-1682 as intraday targets for buyers. Immediate support seen at 1660 failure will take it to 1655-52 and consolidation below 1652 would take it to 1640 zones for the day. But 1634 will remain key support and very short term recovery will end below 1634 otherwise we are expecting a small recovery in gold today. Silver: Weekly: currently t...

Gold: currently trading at 1661.82, day trading range will remain between key support 1620 and resistance 1684. Trend sideways with positive bias. Immediate support placed at 1652 failure may take it to 1645-1642 for the day but 1634 will remain important to watch. Resistance seen at 1667 break will take it to 1675-1682 but 1684 will remain key resistance consolidation above 1684 confirm a rise till 1700 zones. 1703 will remain key resistance. Down side is limited and gold may trigger a fresh bullish wave if not manage to close below 1620 on daily close basis. So avoid fresh shorts at these levels. Silver: currently trading at 32.62 day trading range will remain between 31.50-33.50 intraday trend will remain sideways with positive bias. Silver nicely jumped from important support of 31.50 now further down side is limited till trading above 31.50. Immediate support seen at 32.20 failure will take it to 31.90-31.50 but 31.50-31.30 zones will remain key support and break below thes...

Gold: currently trading at 1647. Day trading range will remain between 1620-1680. Intraday trend is down but trading at potential support zones so recovery can’t be ruled out. Technical indicators are in overbought criteria that are suggesting a partial recovery from 1640-1630 zones. So we have to avoid fresh shorts in gold. Immediate support placed at 1635 failure may take it to 1628-1624 but further down side would confirm only below 1620 resistance seen at 1662 consolidation above 1662 would take it 1676-1680 zones. 1683 zones will also act as good resistance 1703 will remain key resistance for short term.   Silver: currently trading at 32.08 day trading range will remain between 31.50-33.50 trend is down. Silver having very important support at 31.50 zones and silver must sustain below this to confirm more down side. Failure below 31.50 would signal down side ride till 30.50-30.35 for this swing. Immediate strong resistance seen at 32.50 zones consolidation above 32.50 w...

Gold: yesterday nice decline seen in gold after FED statement and retested its recent low of 1663 and made new low of 1662.32 as we have clearly written in our previous post that below 1680 retest to previous low can’t be ruled out. Currently gold is trading at 1677 immediate resistance at 1683 consolidation above 1683 may take it to 1692-95 but 1700 has become a very strong psychological resistance now and break above 1702-1703 zones is very less likely. Day trading range will remain between key support of 1640 and resistance 1703. Immediate support at 1672 consolidation provide some power to intraday bears and retest to 1763 zones overall penetration of 1663 has already signalled a bearish swing till 1648-1644 that we can expect as targets for short selling. Silver: currently trading at 33.28 day trading range will remain between 32.50-34.50 intraday trading is down. Immediate resistance seen at 33.45 consolidation above 33.45 would take it to 33.80 and 33.80-33.90 zones are l...

Gold: Currently trading at 1703.89 day trading range will remain between key support 1690 and key resistance 1730. Very short term trend up. Immediate support placed at 1690 would signal 1686-1680 as next levels. 1660 will remain key support for week. Minor resistance seen at 1710 consolidation above 1710 would take it to 1716-1726 for the day. 1732 will remain key resistance to confirm further upside during week. Silver: currently trading at 33.75, day trading range will remain between key support at 33 and resistance at 34.50. Intraday trend sideways with negative bias. Silver needs to consolidate below 33.30 ranges to confirm a retest to its immediate support 32.40. Key resistance seen at 34.50 penetration of resistance would offer 35 as target for intraday bulls. Immediate hurdle seen at 33.85 above this expected minor resistance at 34.10 till silver trading above 33.30 buying in dips will be trading strategy for the day. Note: 1732 for gold and 35.10 for silver are key ...

Gold:   Weekly: currently trading at 1707.70, expected trading range of the week will remain between key support 1660 and key resistance 1763, trend will remain sideways with negative bias. Intraday: expected day trading range will remain between 1670-1730, trend will remain sideways with positive bias. Immediate support placed at 1702 consolidation below 1702 would signal intraday weakness and 1690-1680 will be expected targets for down side move. 1670 will remain key support for the day. Major resistance for the day will remain at 1732 consolidation above 1732 would only signal upside rally till 1745-55-1760. Silver: Weekly: currently trading at 34.01, weekly trading range will remain between key support of 32 and resistance at 35.70 trends will remain sideways. Intraday: day trading range will remain between key support at 33.30 and resistance 34.55, trend is sideways with positive bias. Immediate support placed at 33.80 failure would signal retest to 33.4...

Gold: currently trading at 1706, day trading range will remain between 1680-1730, intraday trend will remain up. Immediate support seen at 1696 break would take it to 1692-1688 for the day. Resistance seen around 1710-13 zones consolidation above resistance area would signal intraday rise till 1725-27 zones. 1732 will remain key resistance. Silver: currently trading at 34.05 day trading range will remain between 33.30-35.05, intraday trend will remain up. Immediate resistance seen at 34.20 above this level silver will try to taste 34.70-34.95 areas for the day. 35.05 will remain key resistance for the day. Support seen at 33.60 breaks will take it to 33.30-33.10 area. But 33 will remain key support for the day failure may create panic in otherwise silver will remain safe for buyers, reversal may occur around 35 zones.

Gold: currently trading at 1677, day trading range will remain between 1640-1710, trend is down. 1665 is strong support area in gold and nicely jumped from expected support. Today we can use 1663 as potential support for rise till 1683-1690 important resistance seen at 1695 consolidation above 1695 will take it to 1714-1726 areas.  Immediate support seen at 1670 failure will take it to 1664-1656-1646 for the day. Silver: currently trading at 32.88 day trading range will remain between 32.40-34.20, trend is down. 33.06 looking very strong resistance for the day a consolidation above 33.06 will take It to 33.50-33.85 for the day and 34.20 will remain key resistance and daily close above 34.20 would signal a short term recovery in silver. Immediate support seen at 32.68 break will take it to 32.45 consolidation below 32.40 will invite more sellers and silver my try to taste 31.80-31.40 for the day. 

Gold COMEX: currently trading at 1703, day trading range will remain between 1650-1730, trend down. Immediate resistance placed at 1710 consolidation above 1710 would take it to 1720-1727 area but 1732-35 zones will remain key resistance for the day very short term trend change possible after consolidation above 1735 area otherwise trend will remain down, immediate support at 1692 and gold is likely to taste 1685-1665 zones. Silver COMEX:  currently trading at 33.88 day trading range will remain between 32.50-34.90 trend is down. Immediate resistance at 34.20 above 34.20 it will try to taste 34.70-34.90 area 34.90 will remain key resistance for day, consolidation above 34.90 would signal 35.60 and more as target area. Support seen at 33.40 break will take it to 32.90-32.50 for the day. 

Gold: currently trading at 1712, weekly trading range will remain between 1640-1760, trend will remain sideways. Day trading range will remain between 1680-1730; trend will remain sideways with negative bias. Intraday major resistance seen at 1732 consolidation above 1732 it will try to taste 1742-1755-1760 zones. till trading below 1730 gold will remain weak, 1700 is a psychological support below this sharp move can’t be rule decline can’t be ruled out. Silver: currently trading at 34.70 weekly trading ranges will remain between 32.80-37.40 trend is up. Intraday trading range will remain between 34-35.30 silver has placed at immediate resistance at 34.90 break above 34.90 it will try to taste 35-35.30 for the day. Key resistance for the day will remain at 35.70 reversals from 35.70 is likely but consolidation above 35.70 would offer 36.70-37.10 as target for this bullish attempt above 35.70. Immediate support placed at 34.30 breaks below this next destination will be 34-33.60 a...

Sign of potential reversal pattern has appeared on daily chart of mcx gold which confirms bearish breakout below 27300 that is neckline support of HEAD & SHOULDER reversal pattern. 2 consecutive closes below 27300 would offer 25000 areas as target, immediate resistance seen around 28080 above 28080 retest to 28400-450 can’t be ruled out but till gold mcx trading below 28950 it will remain bearish and likely to taste 27750-400 as per primary bearish swing further confirmation we will get after 2 consecutive closes below 27300.  

Gold: currently trading at 1719.41, day trading range will remain between 1660-1760; trend is sideways with negative bias. Gold having very strong resistance at 1732 consolidation above 1732 will take it to 1742-55 zones. But 1760-63 zones will remain key resistance for the day. Immediate support seen at 1713 below this gold will try to taste 1700-1695. This swing is open for 1665-60 till trading below 1763 for short term. Silver: currently trading at 35.25, day trading range will remain between 34.40-36.00, trend will remain down. Immediate resistance at 35.75 break would take it to 35.95-36 consolidation above 36 would take it to 36.50 and 37 and 37.40 will remain key resistance for short term. Support seen at 35 break will take it to 34.70-34.50 and 33.90 will remain key support for short term and failure below 33.90 would signal short term consolidation between 32-36. Selling on rise would be good idea for bullish try to sell near our said key resistances for safe tradin...

Gold: currently trading at 1721.58 yesterday panic selling seen below 1760 that was key support mentioned by us in yesterday’s update. Today day trading range will remain between 1660-1760, trend will remain down. Immediate resistance placed at 1732 consolidation above 1732 would take it to 1742-52-1758 zones for the day. 1760-1762 zones will remain key resistance for day and reversal can’t be ruled out from 1758-60 zones. Important support for the day is 1700-1680-1666. Selling around 1750-60 zones would be good trading decision with stop above 1788 for expected targets around 1666-1645. Silver: currently trading at 35.11 yesterday nice support seen at 34 as we were expecting 34 as key support for this swing and silver jumped from expected levels. Intraday trading range will remain between 34-36 trend is sideways till trading above 34. Immediate resistance seen at 35.40 consolidations above 35.40 would take it to 35.75-36.20 for the day but 36.20 will remain key resistance and ...