Page 35 - Senior Technical News Today

MCX December gold futures were trading flat at Rs 60,955 per 10 gram, up by Rs 3. They are at five month high levels. Meanwhile, the December Silver futures were trading at Rs 71,732 per kg, higher by Rs 152 or 0.21%.

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MCX December gold futures were trading at Rs 60,977 per 10 gram, up by Rs 151, or 0.25%. They are at five month high levels. Meanwhile, the December Silver futures were trading at Rs 71,955 per kg, higher by Rs 168 or 0.23%.

A bearish candle on daily charts and weak intraday formation is indicating further weakness from the current levels, says expert.

Open Interest (OI) data showed that on the Call side, the highest OI was at 19,000 followed by 19,100 strike prices, while on the Put side, the highest OI was at the 18,500 strike price.

The short-term trend of Nifty continues to be negative. Having placed the long-term support at the lows, there is a possibility of a small upside bounce from near 19,100-19,000 levels. A breakdown of 19,000 is likely to open the next downside of 18,600 levels in the near term. Any upside bounce from here could find strong resistance around 19,250-19,350 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

The short-term trend of Nifty continues to be negative. Having placed at long-term support at the lows, there is a possibility of a small upside bounce from near 19100-19000 levels. A breakdown of 19000 is likely to open the next downside of 18600 levels in the near term. Any upside bounce from here could find strong resistance around 19250-19350 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Pessimism persisted in the Indian bourses as the bears tightened their grip by breaching all the key Nifty support levels to end the session at 19,281.75 with a loss of 260.90 points, said Aditya Gaggar, Director at Progressive Shares.The ...

MCX December gold futures traded in the red on Monday at Rs 60,537 per 10 gram, up by Rs 191, or 0.33%. Meanwhile, the December Silver futures were trading at Rs 72,543 per kg, higher by Rs 366 or 0.50%.