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Gold: Gold MCX August contract closed at 29488, day trading range is expected to remain between 29100-28700, euro/used trading in over sold territory that will trigger higher volatility in bullions. Rupees also weakening against dollar that will support bullions in domestic markets. Immediate resistance seen at 29500 break will take it to 29570-640 but 29670-700 zones will remain key resistance zones. Immediate support seen at 29400 failures would signal intraday consolidation between 29200-29500 and will try to taste 29300 zones. Failure below 29300 is less likely but may fall towards 29240-170 key support will remain at 29100. Silver: closed at 54483, trading range 53300-55600, trend sideways. Immediate support at 54200 that will act as trend decider stability above 54200 would support bulls and will help this metal to move upside till 54800-55000 but 55120-200 zones are important to watch stability above 55200 would signal a short term rally till 55550-56400-56700. Below 5420...

Gold:  closed at 28859, day trading range will remain between 28700-29100, trend will remain down, but weakness in Indian rupees may support bullion prices in domestic markets. Immediate support seen at 28800 failures will take it to 28740-680 for the day; it is expected to take support at 28700-680 zones, if fails to hold these supports then gold may fall till 28530 for the day. Immediate resistance seen at 28970 stability above this level may take it to 29040-29070 zones. 29200 will remain key resistance for short term. Silver: closed at 53964 day trading range will remain between 53000-55000, trend down. Immediate support seen around 53700-750 zones failure below these levels will take it to 53400-53100 for the day. 53000 will remain good psychological support for short term failure below 53000 may take it to 52100-51300 in short term. 54220 will remain trend decider stability above 54220 may supply some power to intraday bulls that may take it to 54500-54700 zones but 55...

Gold: closed at 28965, day trading range is expected to remain between 28700-29200, trend is expected to remain sideways with positive bias. Today INR weaning against USD that is also supportive for bullions in domestic markets. Immediate support seen at 28940 stability below this level may trigger intraday weakness that will take it to 28880-28800 for the day but 28700 will remain key support for short term. Above 28940 gold will remain attractive bet for bulls and it will try to move towards 29100-29160 stability above 29160 would trigger further bullishness that may take it to 29240-290 but 29300 will remain key rest for short term daily close above 29300 would signal an uptrend for targeting 29550-30000 in very short term. Silver: closed at 54351, day trading range will remain between 53300-55000, trend will remain sideways with positive bias. Silver having strong support at 54300 failures may take it to 54050-54000 for the day. 53850 looking very strong support for the day,...

Sign of classic bearish bat pattern has appeared on Gold 240 minute chart which completes at 1654. 14 period RSI also respecting ascending trend line and making higher lows, also supporting short term bullish outlook for this metal. 1526 will be key support for this outlook and failure below 1526 may trigger further bearishness that may take it to 1511-1455 in coming days otherwise it is likely to move towards  1616-1654 zones before further down side. Supports : 1547-1526-1511-1455 Resistances : 1580-1616-1640-1654 Recommendation: buying gold around 1550-1560 for targeting around 1616-1654 with stop loss below 1526 on 4 hours closing basis might be appropriate. 

Gold: currently trading at 1560 day trading range will remain between 1518-1600, trend is sideways. gold having a strong hurdle at 1565 stability needed above 1665 to confirm further bullishness above 1565 it will try to head towards 1572-1584 but 1600 will remain psychological resistance for short term stability above 1600 would offer 1654 as primary target. Support seen at 1554 stability below this level would offer intraday weakness till 1547-1542 and 1528 will remain key support over short term failure may signal short term weakness that will take it to 1511-1455. Silver: trading at 27.74 day trading range will remain between 26.50-28.20, trend will remain sideways. Silver having very strong hurdle in range of 28.10-2820 stability needed above 28.20 to confirm intraday recovery that may take it to 28.40-28.70 zones. 29 will remain key resistance for the day. Immediate support seen at 27.65 failures will take it to 27.40 zones. Key support for short term will remain at 26.70 ...

Gold: currently trading at 1599.12, day trading between 1565-1620, trend is up, currently gold is attacking on key resistance of 1600 stability needed above this resistance to confirm intraday upside move that will take it 1608-1614-1620 for the day. Immediate support seen at 1682 failure will trigger a short term weakness in this metal and retest to key support 1565 can’t be ruled out. Important to watch 1601 stability above this level would trigger intraday bullishness. Silver: currently trading at 28.71 day trading range is expected to remain between 28-30, trend is up. Silver having immediate support at 28.50 failures may trigger intraday weakness and silver will try to move towards 28.20-27.80 for the day. Till trading above 28.50 bulls will remain in charge and this rally will remain continue till 29.30 zones for the day. 29.30-29.50 zones are very strong resistance zones for short term and further upside only possible above these zones otherwise selling expected from resi...

Gold: currently trading at 1547, day trading range will remain between 1520-5165, trend is down but lots of technical indicator reached in oversold territory that will trigger higher volatility for the day. Immediate resistance seen at 1552 recovery above 1552 would signal intraday rally till 1560-1565 zones, stability needed above 1565 to confirm a short term recovery and gold will try to head towards 1600-1620 zones in coming days. Immediate support seen at 1538 failure below 1538 may trigger intraday weakness and gold may try to taste 1530-1525 zones for the day but failure below 1520 will trigger more weakness and fall till 1498 can’t be ruled out. Stability above 1529 will remain supportive for bulls.  Silver: Currently trading at 27.54 day trading range is expected to remain between 26-28.10, trend will remain sideways. Immediate support seen at 27 failures below 27 may trigger intraday weakness and silver will try to taste 26.60-26.20 for the day otherwise it will try...

Gold: currently trading at 1534 day trading range will remain between 1520-1565, trend is down and but today 1520 will play important role for gold closing below 1520 would signal more down side and it may fall till 1500-1460 in coming days recovery possible from support area of 1520-1525 for the day. Immediate resistance seen at 1540 recovery above 1540 may take it to 1548-1555 for the day but 1565 will remain key resistance for the day. Silver: Silver trading at 27.44 day trading range will remain between 26-28.60 trend is down. Silver trading at key support of 27.30 further down side for the day only possible below 27.30 immediate resistance seen at 27.70 recovery above 27.70 will take it to 28.10-28.40 for the day but 28.60 will remain key resistance for the day. below 27.30 it will try to move towards 26.80-26.30 for the day.

Gold: currently trading at 1553.85, day trading range will remain between 1520-1586, trend is down. Currently gold is trading at key support of 1552 stability below this during the day may trigger more bearishness and gold will try to move towards 1545-1535 zones for the day. 1543 will be key support on daily closing basis and 2 consecutive closes below 1543 would signal more bearishness and it will try to taste 1525-22 zones stability below 1520 would signal midterm trend failure. Immediate resistance seen at 1565 stability above this level will take it 1578-152-84 zones but 1586 will remain key resistance for the day. Silver: currently trading at 28.05, day trading range will remain between 27.30-29.10, trend is down.  Immediate resistance seen at 28.25 stability above 28.25 will take it to 28.50-28.55 for the day but 29.10 will remain key resistance for short term. Stability needed above 29.10 to confirm recovery from current down trend other wise 27.40-26.30 can’t be rul...

Gold: currently trading at 1581.72,day trading range will remain between 1565-1603, short term trend is down. Immediate resistance seen at 1590 stability above 1590 will support intraday bulls and it will try to taste 1600 zones during the day. 1612 zones will remain key resistance for very short term. Immediate support seen at 1577 failure will take it to 1572-1565 for the day. Stability below 1579 on daily basis would signal more decline and gold will try to move towards 1554-1522 in coming days. Silver: Currently trading at 28.76 day trading range will remain between 27.30-29.50, trend is down. 28.50 levels is acting as very strong support for short term failure below this level would signal very short term decline that will take it to 27.40-26.30. Immediate resistance seen at 29.10 stability above 29.10 will take it to 29.45-29.90 for the day. Below 28.50 if manage to hold then down side till 27.40 levels can’t be ruled out for the day. 

Gold : currently trading at 1631.83 having strong support at 1624 stability below 1624 would signal short tern decline that will take it to 1614-1585 zones. trend is expected to remain weak day trading range is between 1610-1650 stability above 1650 needed to neglect these bearish expectations. Our outlook will remain bearish till gold trading below 1650 in short term but failure of 1624 needed to confirm a big down side in short term. Silver: trading at 29.72 below its critical support of 30.30 today expected trading range will remain between 28.50-30.50 stability above 30.50 during the day may neglect bearish expectations otherwise fall is expected to remain continue till trading  below 30.30. Stability above 30.40.30.50 zones for the day may take it to 31-31.40 but 31.45 will remain key resistance for the week. 

Gold:  Currently trading at 1638.59 day trading range will remain between 1624-1652, trend is down. Gold moving in a symmetric triangle and turned back from support line of triangle on Friday today failure below 1624 would signal symmetric triangle breakout that may take it to 1585-1575 zones in very short term. Intraday key resistance seen at 1652 stability above 1652 may attract short term bulls otherwise trend will remain down and 1624 will remain key support. Silver: Currently trading at 30.13 day trading range will remain between 29.60-31.50. Trend is down. Today important resistance to watch is 30.50 stability above 30.50 will support intraday bulls and it will try to head towards 31-31.40 but 31.50 will remain key resistance for short term. Immediate support seen at 29.90 breaks may take it to 29.60 for the day. Till silver closing below 31.50 short terms outlook will remain bearish and 28.60-26.30 are expected levels. 

On Feb 03, 2012 NIFTY broken out its down sloping trend line resistance of descending parallel channel and nicely rallied up to  5629.95 but was not able to breach its primary resistance that was 5690.35 (Green line) during that rally. On Friday nifty closed at 5086.85 at crucial support level. 5100-5080 zones are important to watch stability below 5080 would signal continuation of bear market and nifty may head towards 4950 that is 61.80% fib retracement of recent bullish swing. Weekly close below 4950 would signal failure in fresh bullish development and NIFTY may fall till 4850-4650 otherwise jump can’t be ruled out from 4950 zones. Supports: 5080- 4950-4656 Resistances: 5180-5380-5691 Recommendation: buying between 4930-4970 zones for targeting 5350-5650 with stop loss below 4850 on weekly closing basis might be appropriate. 

Gold: trading at 1649, day trading range will remain between 1624-1675, intraday trend is down. Immediate support seen at 1644. Failure below 1644 will take it to 1635-1632 zones but 1624 zones will remain key support for short term. In case of failure below 1624 on daily close basis fall till 1585-1525 can’t be ruled in short term. Intraday key resistance at 1658 stability above 1658 will take it to 1665-1672 zones for the day. Silver: currently trading at 30.46, day trading range will remain between 29.90-31.50, trend is bearish. Immediate support seen at 30.30 stability below 30.30 will take it to 30-29.90 zones for the day. Daily close below 30 would signal fall till 28.60-26.30 in short term. Immediate resistance seen at 30.70 stability above 30.70 may take it to 31-31.10 but stability needed above 31.50 to confirm further upside otherwise short term trend will remain down.

Gold: currently trading at 1659.52, day trading range is expected to remain between 1624-1685; trend is expected to remain sideways. Today important to watch is 1656 stability below this level would signal intraday decline till 1645 zones. Failure below 1644-45 zones is less likely in case of failure decline till 1635-1630 zones can’t be ruled out for the day. Intraday key resistance will remain at 1674 stability needed to move upwards till 1682-1688 zones for the day. Silver: currently trading at 30.89, day trading range is expected to remain between 29.90-31.50. Trend is bearish. Immediate support at 30.70 stability below this support may take it to 30.35-30 for the day. 30 is psychological support failure of this level will attract more sellers.  31.42 will remain key resistance for the day stability above 31.42 will take it to 32. 

Gold: currently trading at 1660.44 day trading range is expected to remain between 1640-1685; intraday trend is expected to remain sideways with bullish bias. 1650 looking good support stability below 1650 may trigger intraday weakness and gold will try to taste 1645-1635 for the day and 1624 will remain key support for short term. Intraday resistance seen at 1668 above this gold will try to move towards 1673-1680 zones but 1688 will remain key resistance for short term .gold is trading near crucial resistance of 1660 and we are looking at price behaviour near resistance line if today gold fails to hold above 1668 then sharp selling can’t be ruled out 1645-1635 will remain important to watch for the day. Silver: silver current price is 30.80 and trading below key support of 31 on daily chart. Day trading range will remain between 29.60-31.50; trend is expected to remain bearish in very short term. 31.50 is key resistance for now and till metal not manage to hold above this resis...