TECHNICALS FOR NYMEX TRADING NOV 26

NOV 26 WEDNESDAY

TRADING LEVELS FOR EVENING TRADE

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 17620 , S2 RS 17410 , S3 RS 17280

R1 RS 18030 , R2 RS 18260 , R3 RS 18540

UPDATES ON NOV 26 2008

NOV 26 WEDNESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 17020 , S2 RS 16910 , S3 RS 16780

R1 RS 17330 , R2 RS 17560 , R3 RS 17740

TECHNICAL LEVELS FOR NYMEX TRADING

NOV 25 TUESDAY

TRADING LEVELS FOR EVENING TRADE

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 17180 , S2 RS 16940 , S3 RS 16780

R1 RS 17460 , R2 RS 17680 , R3 RS 17940

UPDATES ON NOV 252008

NOV 25 TUESDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND : BEARISH

S1 RS 17180 , S2 RS 16940 , S3 RS 16780

R1 RS 17510 , R2 RS 17680 , R3 RS 17940

STAY LONG AT SUPPORT.

Silver futures for March delivery jumped 87.3 cents, or

9.2 percent, to $10.378 an ounce on the Comex.

Silver tracked gold higher , climbing from $ 8.94 in

Asia to $ 9.50 in New york.

Support and resistence are at $ 9.48 and $ 9.68 respectively.

TECHNICAL LEVELS FOR EVENING TRADING

NOV 24 MONDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND: BEARISH

S1 RS 16800 , S2 RS 16580 , S3 RS 16300

R1 RS 16900 , R2 RS 17210 . R3 RS 17480

STAY LONG AT SUPPORT.

Trading call update on Nov 24 4.00 PM Indian Standard Time

Target Achieved in MCX Dec Silver at Rs 16830.

Book profit as per the buy call given in the range

of Rs 16580 to 16610 earlier.

Market Alert On Nov 24 Monday 3.15 PM Indian Standard Time

MCX Dec Silver trading above interim resistence of

Rs 16650.

If market sustains above these levels it may test

Rs 16850 and 17100 , other wise it may trade in the range

of Rs 16650 to 16340.

Trading call for Nov 24 Monday at 3.15 PM Indian Standard Time

Buy Silver MCX Dec in the range of Rs 16560 to 16610

Stop loss Rs 16450

Target Rs 16830.

UP[DATES ON NOV 24 2008

NOV 24 MONDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND : BEARISH

S1 RS 16310 , S2 RS 16180 , S3 RS 15980

R1 RS 16640 , R2 RS 16810 , R3 RS 16980

Silver prices have been under pressure for some

time now. In the London spot market on Friday

the AM Fix was at $ 9.17 an ounce versus previous

days $ 9.39 an ounce.

According to the GFMS silver market review ,

in the short term prices may rally on the back of a pick

up in investor interest , despite weaker fabrication

demand .

In 2009 GFMS expects silver prices to average $ 13

an ounce , although independent experts are not so

upbeat.

TRADING CALL

TRADING CALL AT 11 AM NOVEMBER 21

SELL MCX DECC SILVER AT CMP 15956

SL 16160, T1 15850, T2 15600.

UPDATE

TECHNICALS FOR NOVEMBER 21

MCX DECEMBER SILVER

SHORT TERM : BEARISH

LONG TERM : BEARISH

SUPPORTS : 15860, 15640, 15480

RESISTANCES : 16140, 16320, 16480

STAY SHORT AT RESISTANCES

UPDATES

TECHNICALS FOR NOVEMBER 20

MCX DECEMBER SILVER

SHORT TERM : SIDEWAYS

LONG TERM : BEARISH

SUPPORTS : 16210, 16040

RESISTANCES : 16530, 16780

WAIT FOR CONFIRMATION

UPDATES ON NOV 19 2008

NOV 19 WEDNESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 16210 , S2 RS 16040

R1 RS 16465 , R2 RS 16580

Silver fell over 2% to $9.137 and rallied as much as

4.2% to $9.752 before it also fell back off in the last

hour and a half of trade, but it still ended with a

gain of 2.03%.

Silver was even quieter than gold.Although the metal

continues to broadly track gold , movements are being

exacerbated by low volumes.

Silver closed at $ 9.35 .

Support is at $ 9.21 , $ 9.06 .

Reasistence is at $ 9.56 and $ 9.76 today.

UPDATES ON NOV 18 2008

NOV 18 TUESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 16180 , S2 RS 16030

R1 RS 16510 , R2 RS 16780

December silver sank 1.7% to $9.33 an ounce.

Silver tracked gold throughout the day , slipping

from $ 9.46 to $ 9.24 in Asian trading before gaining

fund buying support in London.

With LME Copper prices gaining 4.09 % in the day ,

silver rocketed during the London session,

rising to $ 9.70 before settling at $ 9.33 at the

PM Fix in Newyork.

Primary support and resistence are at $ 9.48 and

$ 9.74 respectively today.

UPDATES ON NOV 17 2008

NOV 17 MONDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 16210 , S2 RS 16030

R1 RS 16510 , R2 RS 16680

On Friday Silver started out steady , bouncing between

$ 9.21 and $ 9.40 for most of the morning.

With gold becomming increasingly volatile as the

New York session began , the volatility spilled

over to the silver market.

Initially the metal dropped to $ 8.81 and closed in the

COMEX at $ 8.84. However in the aftermath it gained

ground to as hogh as $ 9.40.

UPDATES

TECHNICALS FOR NOVEMBER 14

MCX DECEMBER SILVER

SHORT TERM : BEARISH

LONG TERM: BEARISH

SUPPORTS: 15860, 15500

RESISTANCES : 16210, 16640

SELL AT RESISTANCES

UPDATES

TECHNICALS FOR NOVEMBER 13

MCX DECEMBER SILVER

SHORT TERM : BEARISH

LONG TERM : BEARISH

SU[PPORTS : 16480,, 16320

RESISTANCES : 16780, 17060

SELL AT RESISTANCES

UPDATES ON OCT 12 2008

OCT 12 WEDNESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 16520 , S2 RS 16380

R1 RS 16880 , R2 RS 17060

SELL AT RESISTENCE.

December silver futures fell 41.5 cents, or 4.1%, to end

at $9.805 an ounce .

A recovery in faltering oil and industrial metals prices on

Monday had helped precious metals to climb, but the recovery

was short-lived as fears over the outlook for the global

economy resurfaced.

With confirmed evidence of a bleak economic outlook in the

Euro Zone and UK, traders and investors prefer to cling to the

U.S. dollar rather than other currencies.

Oil and industrial metals prices slipped, with U.S. crude futures

falling to below $59 a barrel as a slide in global stock markets

refocused attention on the prospect of a downturn.

The dollar, a key external driver of gold, was broadly

supported on Tuesday by weakness in equity prices,

which is prompting investors to seek out the US currency

as a haven from risk.

UPDATES

TECHNICALS FOR NOVEMBER 11

MCX DECEMBER SILVER

SHORTTERM: BEARISH

LONG TERM : BEARISH

SUPPORTS : 16820, 16660

RESISTANCES : 17210, 17460

SELL AT RESISTANCES

UPDATES

TECHNICALS FOR NOVEMBER 10

MCX DECEMBER SILVER

SHORT TERM : SIDEWAYS

LONG TERM : BEARISH

SUPPORTS : S1 16820, S2 16660

RESISTANCES : R1 17120, R2 17360

WAIT FOR CONFIRMATION

UPDATES

TECHNICAL UPDATES AT 5 PM ON NOVEMBER 7

SHORT TERM : BEARISH

LONG TERM TREND : BEARISH

SUPPORTS ; 16860, 16540

RESISTANCES ; 17180, 17430

STAY SHORT AT RESISTANCES

Silver for immediate delivery was down 0.2 percent at

$9.9613 an ounce.

Silver had no direction.

The metal range traded finding support at $ 10.10 and resistence

at $ 10.35 in Asia and Europe.In US bid silver was well bid.

After briefly touching a high of $ 10.58 the metal was

sold lower as the day progressed.

Silver closed near its lows at a bid of $ 10.09.

UPDATES

PIVOTS FOR NOVEMBER 7

MCX DEC SILVER

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

SUPPORTS : S1 16760 , S2 16540

RESISTANCES : R1 17080, R2 17260

STAY SHORT AT RESISTANCES

UPDATES ON NOV 6 2008

NOV 6 THURSDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 16870 , S2 RS 16640

R1 RS 17360 , R2 RS 17540

STAY SHORT AT RESISTENCE.

December silver up 32.5 cents, or 3.2%, to finish at $10.455

an ounce after tacking on 3.9% Tuesday.

Silver tracked gold once again.But it was slower

to start its rise finding initial resistence around $ 9.85 and

$ 9.90 in early morning trade.

But once the metal broke above these levels it moved

rapidly higher after opening in New York at $ 10.13

it quickly reached highs of $ 10.53.Here the metal

faced stiff resistence and selling pushed silver all the

way down to a closing bud of $ 10.09.

UPDATES ON NOV 5 2008

NOV 5 WEDNESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 16820 , S2 RS 16660

R1 RS 17120 , R2 RS 17360

Silver futures for December delivery rose 38 cents, or 3.9

percent, to $10.13 an ounce. The metal is still down 32

percent this year, while gold has dropped 9.6 percent.

Silver was quieter than gold as it shadowed the yellow metal

most of the day.

After pushing as high as $ 10.23 early on , it dropped towards

$ 10.10 in Asia , stabilised therafter between $ 10 and $ 10.20

in Europe and dropped further towards $ 9.64 in early

US trade.

From these levels silver stabilised to close at $ 9.79.

UPDATES ON NOV 4 2008

NOV 4 TUESDAY

SHORT TERM TREND: BEARISH

LONG TERM TREND : BEARISH

S1 RS 16640 , S2 RS 16430

R1 RS 16980 , R2 RS 17210

STAY SHORT AT RESISTENCE.

Silver dropped 50 cents shortly after opening

in Tokyo to trade at $ 9.23.

Alhough support returned just before London markets

opened , the moves lacked conviction and the metal

traded between $ 9.30 and $ 9.60 in New york after

opening in the $ 9.30 level , strong buying pushed

the metal quickly higher to the closing bid of $ 9.71.

UPDATES ON NOV 3 2008

NOV 3 MONDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 16780 , S2 RS 16530

R1 RS 17120 , R2 RS 17360

STAY SHORT AT RESISTENCE.

Silver followed gold lower on Friday with

$ 9.28 down from $ 10.02 the previous day.

Primary support is at $ 9.10 and secondary support

is at $ 8.62 to $ 7.55.

Primary resistence is at $ 10.18 and secondary resistence

is between $ 10.79 and $ 11.87.