Tuesday, February 21, 2012

Intraday Commodity Tips for Today

GOLD (April)
The overall trend is sideways for today but any decline to buy opportunity. In the last week it made a high of 29141, a low of 27571, and is managed to close above 291400 indicating small trading range. Any dip to buying opportunity considering resistance 29510.
For Today MCX Gold:
Buy and Buy
Small trading range
28450 to 28254...

SILVER (March)
Silver looks good and decline to buy opportunity after making a high of 57910 and above, unable to sustain and made a low of 55661 and close above 56121. As long as holds the 56100-level, trend is positive and buying opportunity. The higher-level major revolution above 58100 if crossover with volume.
Today :
Buy and Buy and Downside support 55540-55980

As mentioned last week, below 425 do not hold this counter. It made a low of 403 and closed below major support level of 406. In this week, consider resistance at 412, sustained above it will move further and may test 425-430, downside support at 400-395-390. Fresh short build-up was seen...
Some selling pressure at higher level

In the last week above 5210 do not hold short position and sharp move cannot be ruled out any time, and it actually did so above 5231 more upside.
Some positive was seen but profit booking at higher level as long as holds 5210, up-move continues.

In the last week - below 1210 bear favor, more bear favor once closes below 1036, and play for short-sell in open quantity. For this week, consider resistance 995-1021 and downside support 990.
Sell on rise and below 1036 bear favor.

Unable to break 136 level and started some upward movement. Last week it made a high of 145 and closed at 145... Short-term trend is positive and likely to test 149+ short-term. Buy on decline strategy as long as holds 121-136 range.

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