GOLD & SILVER

1st time ever i am posting the levels of Gold & Silver. Both these commodities are taking support @ Gann Retracement levels. So a long trade can be initiated with tight stoploss @  30300 for Gold and 57200 for Silver. Target for Gold is 31370 & 32470. Target for Silver is 61820 & 62858.

Nifty Spot levels for 24-12-2012 to 28-12-2012

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A stoploss hit in the Union Bank Of Inida.
Nifty again & again is taking support & resistence @ Gann levels. In my earlier post i stated that 5960 & 6060 are the major resistence levels and see the beauty it actually found resistence @ 5965 level. Again i mentioned that that major support levels are 5820 & 5760 and nifty found its support @ 5823 levels. Till date there is no change in the levels. A close below 5820 will drag the index to 5738, 5688,5566. and the resistnce levels are 5960,6060,6084. All levels are of spot nifty. So try to take positions near these levels with small-small points as stoploss.

Union Bank Of India

Today Union Bank of India may face resistance near 261.90 as it is a Gann retracemant level. If this counter closes below 262 then a short can be taken for the 1st target of 235.4, 2nd target 208.

Nifty Spot (03/12/12 - 07/12/12)

In my earlier post i clearly stated that the closing below 5596 will take nifty  to 5535 and it actually took U Turn from 5540. From 5540 to 5880 (what a wooooooo move).
As far as Nifty is concerned a closing above 2 X 1 Gann Angle has given it more strength for  Nifty to go up to 6097 . See the attached chart.Major resistance levels are 5960-6060,6097 and major support levels are 5820-5760.