A TECHNICAL UPDATE ON SILVER IN $ DOLLAR TERMS-2.2.2026

 

SILVER IN $ DOLLAR TERMS

Open—115.83--High---118.43---Low—72.95--Close---84.47 on 30.1.2026. 

All-Time High:-$121.62 made on 30.1.2026.

Recent Low:-$70.56 made on 29.12.2025. 

Support:$82.67/81.86/73.87/71.46/71.45/70.56/64.52/60.83/58.83/56.50/54.46/50.62/49.75/48.64/47.55/46.88/45.56.------ 

Resistance:$86.43/90.44/93.52/95.86/117.73/121.62.

(Bold and underlined figures are most important). 

It had a vertical rise for quite some time and as you are aware that vertical rise may have vertical fall too and the fear of it was always there and finally it happened on 30.1.2026 as it had a sharp fall wiping out the gains of last 16 days. It slipped into correction mode now therefore it has to be seen in the next few trading sessions that how correction culminates, so keep a watch on it. Please note that despite the sharp fall the long term uptrend is intact as of now. 

It is important to mention here that it is still above its most important & key support points of  $81.86---71.46---71.45 for the year-2026 and as long as it stays above it on the closing basis chances of up-move will be alive in the year -2026. But break & sustained close below$81.86 (it went below this intraday on 30.1.2026 but bounced back to close above it)) will be an alert sign for going down further and finally break & sustained close below $71.46---71.45  may trigger fresh fall and can drag it down to $70.56---69.52, it may bounce back from any of the points but break & sustained below $69.52 can drag it down to $66.66---64.11---63.51---60.77---59---56.50---53.69---49.75 or lower, please note that break below $59(figure may change) may threaten the long term uptrend and in that case one should avoid long trade till correction completion or bottoming out sign strongly emerges. Similarly it may get back into good up-momentum track again once it moves above $81.86 and sustain on the closing basis. 

Please note that it is in correction mode and how correction will culminate has to be seen in the next few days, but if it holds $84.44(PTP)(figure will be scaled down if it breaks $72.95 intraday) on the closing basis then it could extend the up-move and the possible broad upside target or resistance points could be at $91.54---97.29---103.03---110.03---111.89 it may correct at any of these points  and may resume the up move again or may halt the up-move for a while and move sideways, but if it moves above $111.89 and sustain on the closing basis, then it could retest its all-time high of $121.62 or may go beyond it also. 

REMARKS: -- It is in the long term uptrend but into correction mode, therefore buy on decline can be considered cautiously and at the appropriate support points only and with strict stop losses. 

NOTE: - It is a technical assessment as of now, the technical interpretation changes with the price movement and time; therefore it has to be reviewed at regular intervals.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. This is purely for educational purpose only. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A TECHNICAL UPDATE ON GOLD IN $DOLLAR TERMS-2.2.2026.

 

GOLD IN $DOLLAR TERMS

Open—5362.45--High---5450.42---Low—4679.43----Close---4879.52 on 30.1.2026. 

All-Time High:-$5595.51 made on 30.1.2026.

Recent Low:-$3887.03 made on 28.10.2025. 

Support:$4642.74/4549.77/4538.62/4500.34/4408.38/4381.21/4378.90/4378.26/4371.97/4353.35/4325.75/4325.47/4308/4275.25/4264.30/4244.81/4024.76/4005.55/3998.61/3929.37/3887.03.----- 

Resistance:5109.40/5595.51/5980//6023. 

(Bold and underlined figures are most important). 

It had a vertical rise for quite some time and as you are aware that vertical rise may have vertical fall too and the fear of it was always there and finally it happened on 30.1.2026 as it had a sharp fall wiping out the gains of last 9 days. It slipped into correction mode now therefore it has to be seen in the next few trading sessions that how correction culminates, so keep a watch on it. Please note that despite the sharp fall the long term uptrend is intact as of now. 

It is important to mention here that it is still above its most important & key support points of  $4549.77---4325.75---4325.47 for the year-2026 and as long as it stays above it on the closing basis chances of up-move will be alive in the year -2026. But break & sustained close below$4549.77(it came close to this intraday on 30.1.2026) will be an alert sign for going down further and finally break & sustained close below $4325.75---4325.47 may trigger fresh fall and can drag it down to $4275.24---4228.73, it may bounce back from any of the points but break & sustained below $4228.73 can drag it down to $4164.94---4080--3998.61—3887.03 or lower, please note that break below $4080(figure may change) may threaten the long term uptrend and in that case one should avoid long trade till correction completion or bottoming out sign strongly emerges. Similarly it may get back into good up-momentum track again once it moves above $4549.77 and sustain on the closing basis. 

Please note that it is in correction mode and how correction will culminate has to be seen in the next few days, but if it moves above $4895.69(PTP)(figure will be scaled down if it breaks $4679.52 intraday) and sustain on the closing basis then it could extend the up-move and the possible broad upside target or resistance points could be at $5049.43---5137.52---5245.60---5379.34---5412.31 it may correct at any of these points  and may resume the up move again or may halt the up-move for a while and move sideways, but if it moves above $5412.31 and sustain on the closing basis, then it could retest its all-time high of $5595.51 or may go beyond it also.

REMARKS: -- It is in the long term uptrend but into correction mode, therefore buy on decline can be considered cautiously and at the appropriate support points only and with strict stop losses. 

NOTE: - It is a technical assessment as of now, the technical interpretation changes with the price movement and time; therefore it has to be reviewed at regular intervals.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. This is purely for educational purpose only. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

AN ELABORATE TECHNICAL UPDATE ON CNX-NIFTY FOR-1.2.2026

 

CNX-NIFTY

Open—25247.55---High—25370.70---Low---25213.65--Close---25320.65 on 30.1.2026

Support:25318.45/24255.30/25153.65/25079.80/25008.20/24918.65/24882.30/24857.75/24854.80/24792.30/24753.15/24694.35/24587.70/24537.60/24502.15/24498.20/24494.45/24473/24462.40/24404.70/24337.50/24226.70/24198.75/24141.80/24099.70/24094.20/24073.90/23938.85/23935.75/23893.70/23873.35/23869.65/23847.45/23816.15/23807.30/23667.20/23664/23644.80/23637.65/23484.15/23537/23426.30/23391.65/23338.70/23263.15/23110.80/23049.95/23047.25/22976.85/22794.70/22786.90/22775.70/22768.40/22676.75/22625.30/22577.40/22546/22525.65/22502/22314.70/22303.80/22281/22165/22124.70/22104.85/21964.60/21875.25/21860.65/21821.05/21777.65/21710.20/21530.20/21448.65/21281.45/21137.20/21021.88/20976.80/20769.50/20291.50/20222.45/19991.85/19839/19333.60.

Resistance:25448.50/25548.70/25669.35/25693.25/25718.20/25726.80/25740.80/25842.95/25891/25057.60/26097.85/26104.20/26129.60/26173.30/26202.60/26236.40/26246.65/26277.35/26325.80/26340/26357/26374/26404/26458/26497/26567/26594/26650/26678/26694/26717/26816/26842/26995/27001/27095/27212/27293/27375/27510/27824.

OVERALL VIEW ON THE DAILY CHART: --

It opened on a negative note and thereafter had both side moves during the day and finally, ended the day with a loss of 98.25 points. It is also important to mention here that it still has earlier unfilled gaps (gap points on downside are  24164, 22923, 22468 & 22254- gap point on the upside25662.40) also on the downside/upside, which is still a huge concern, although stipulated time for filling the gap is over long ago, but it will fill the gap one day for sure. So, be cautious. Please note that it is often exhibiting volatility, this is not a good sign for a steady market.

The technical setup is still weak, it is into deep correction mode for its recent rise, below almost all the recent key points, below short term rising trend line, below major long term rising trend line, below all the short term moving average on the daily, weekly and below few  on the monthly chart, below all medium term moving average on the daily chart and few below on the weekly chart and most importantly after a long time it is below few of its long term moving averages thereby threatening the long term uptrend, few important technical indicators are weak on the daily, weekly & monthly chart. Therefore all together it is highly concerning and can drag it down. But the good thing is that it has made higher top on the line chart and above few key points of 25318.45---25262.80(PTP) and as long as it holds 25318.45---25262.80(PTP) on the closing basis, chances of up-move will be alive; else it may start to drift down again. Moving down further it will find next critical support points at 25299---25272----25199----25168---25094---25065---24944.80----24857.75----24744 (figures will change daily), it may bounce back from any of these points, but break & sustained close below 25065 will be a potential threat for the long term uptrend and then it may witness an accelerated fall and break & sustained close below 24944.80 & 24744 can drag it down to 24587 & 24337 levels or below.   

Moving up the key resistance points could be at 25378----25458---25475---25575---25653----25693.25----25718.40---25726.30---25740.80-------25742----25842.95----25891—--25892.77------25951.82----26051.13-----26082.52----26104.20----26124.28---26129.60----26173.30---26212.73----26223.88---26246.65----26256.33----26277.35—26325.80---26373.20 (some figures may change daily or at some point of time) it may correct at any of these points and then may resume the up-move again or may halt the up-move for a while. Please note that if it moves above the range of 25458---25475---25575 and sustain on the closing basis then it can extend the up-move, if it moves above the range of 25653----25693.25 it will raise good hope and also give good strength for extending the up move further and finally if it moves above 26082.52 and sustain on the closing basis then it is likely to retest its all-time high of 26373.20 or may go beyond it. But please note that to keep the hope of continued up move alive in the year—2026 it has to move above 26129.60----26173.30 and sustain on the closing basis and to get back into strong up-momentum track in the year—2026 it has to moves above 26325.80 and sustain on the closing basis, else it may start to drift down. It is still in the long-term uptrend but it is threatened and also into deep correction mode now.

IMPORTANT NOTE: - THE IMPORTANT POINTS FOR THE YEAR--2026 ARE 26129.60---26173.30---26325.80 AND TO KEEP THE HOPE ALIVE FOR A CONTINUED UP-MOVE IT HAS TO SUSTAIN ABOVE 26129.60---26173.30 AND TO GET INTO STRONG UP MOMENTUM IT HAS TO MOVE ABOVE 26325.80 AND SUSTAIN ON THE CLOSING BASIS THROUGH-OUT THE YEAR , ELSE IT MAY START TO DRIFT DOWN.

TECHNICAL INDICATORS  AND MOVING AVERAGE PLACEMENT ON THE CHART;-

POSITIVE POINTS:-

1. It is in the neutral/oversold zone and VM & ST is in the buy mode and RSI with strong positive divergence, so it may witness up rally at times and that may last too.

2. It is above majority of its long term moving averages on the daily chart, which is placed at 25299—25272---25199----25168---25094----25065 (figure will change daily) for the day.

3. It is above only one of its short term moving averages on the daily chart & above almost all on the monthly chart.

4. It is above almost all of its medium-term moving averages on the weekly & above all on the monthly chart.

NEGATIVE POINTS:-

1. Almost all the important indicators such as EV, MACD, PS & ADX are in the sell mode, so down move may happen at times and may extend also.

2. It is below almost all of its short term moving average on the daily & below all on the weekly chart and below one on the monthly chart.

3. It is below all its medium term moving average on the daily chart and below one on the weekly chart.

4. It is below few of its long term moving average on the daily chart and the averages are placed at 25574---25475---25378(figure will change daily), very weak sign.

In view of the above observation there is a mixed possibility and it can swing both ways but with a downward--bias as of now. Furthermore please also note that earlier vertical rise, unfilled gaps, negative divergence and in the overbought zone on weekly & monthly chart is still a concern, therefore fall also cannot be ruled out in coming weeks & months. Please keep an eye on the critical resistance & support points and price action for further directional indication.

TECHNICAL INDICATORS PLACEMENT ON THE WEEKLY & MONTHLY CHART:-

WEEKLY CHART: - Almost all the important indicators are such as MACD, ST, PS, ADX, EV & VM is in the sell mode, RSI is neutral, but it is in the oversold zone, so it may give relief rally at time but that may not last, so overall bias is down as of now.

MONTHLY CHART: -Few indicators are in buy mode such as PS & ADX, but key indicator such as MACD, ST, & VM are in the sell mode, it is in the overbought zone and with negative divergence in RSI. Therefore, all together indicators are painting a mixed picture now with slight tilt towards down-side as of now; therefore, further fall in the coming months cannot be ruled out, so be watchful.

IT IS BUY ON DECLINE MARKET NOW;-

It is still into deep correction mode but bounced back above key points, therefore now it will be buy on decline  market now till it sustain above 25318.45---25262.80(PTP) on the closing basis.  But short trade can also be tried on sharp rise and near critical resistance points or range, for intraday corrective gains.

STRENGTH:-

1. It is above its most critical 2^nd, 3rd, 4th & 5^th make or break bottom of 25318.45----24587.70---24337.50 & 21743.65 sustained close above it will keep the hope alive of resuming the up-move again.

2. It made higher top on the line chart today but yet to make higher bottom, so watch out.

3.  It is above its 1st downtrend line, which is placed at 25192(figure will change daily) for the day, it is a good sign.

4. The price action was mixed today.

WEAKNESS: -.

1. Volatility and wild swing can be seen in the market quite often, which is not a good sign for a steady market condition and it can eventually drag it down may be drastically in the coming days/weeks and months. So be watchful.

 2. To get back into strong up-momentum track it has to move above 26277.35 & 26325.80 and sustain on the closing basis, else it may drift down.

3. It is into deep correction mode now as it is below all its threshold point of 26256.33----26223.88---26220.53----26212.73----26124.28---26051.13---25951.82----25892.77 sustained close below these points can drag it down further.

4. It is below almost all(except for one) of  its short-term moving averages now on the daily chart and the important average range for day is 25653---25546----25458--25383—25327---25288 (figure will change every day), sustained close below this range can drag it down further.

5. It is below its 2nd downtrend line, which is placed at 26076(figure will change daily) for the day, it is a negative sign.

6. It is below its major long-term rising trend line which is placed at 25922 for the month of February-2026; sustained close below it may witness an accelerated fall.

7. It is below its major long-term rising trend drawn from the bottom of 7511 made on 20.3.2020, which is placed at 25767(figure will change and inch up every day) for the day, sustained close below it may witness an accelerated fall.

8. It is below its most critical 1^st make or break bottom of 25693.25sustained close below it can drag it down sharply.

TRADING CALL: --

1. Long trade can be tried on decline near or within the range of    25318---25263 if it holds this range for some time then with a stop loss of 25190 for a possible intraday gain, else avoid. Please note that long trade in a corrective market could be a risky affair, but can be tried near critical support points for intraday gains.

2. Short trade can be tried on the rise near or within the range of 25460---25500 with a stop loss of 25560 or can sell if it moves below 25200 and maintain for some time, then with a stop loss of 25330. It could be a risky trade but can be tried for intraday corrective gains.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa . Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS. 

Note: Price stated here are of spot market. 

Thanks 

Narendra Kumar Surana

Mobile—8240951127/9831313654.

Email--- suranank@gmail.com

         

   

AN ELABORATE TECHNICAL UPDATE ON CNX-BANK NIFTY FOR—1.2.2026

 

CNX-BANK NIFTY

Open—59542.25---High—59906.90--Low—59501.80---Close—59610.45 on 30.1.2026. 

Support:59581.85/59545.70/59478.15/59440.10/58925.70/58799.90/58712.70/58688.55/58649.50/58577.50/58469.90/58050/57628.40/57594.25/57482.05/57363.70/57157.85/57049.50/56623.60/56594.25/56204.85/56098.70/55821/55695/55547.35/55475.45/55149.30/54905.60/54576.60/54467.35/54226.60/54176.45/53888.30/53561,75/53483.05/53357.70/52794.95/52782.75/52760.20/52577.50/52493.95/52354.85/51979.75/51749.45/51749.45/51693.50/51138.90/51133.20/51000.90/50947.70/50860.20/50841.90/50641.75/50438.30/50382.10/50369.40/50194.30/49974.75/49904.40/49836.10/49787.10/49688.80/49654.65/49459/49300/49162.65/49057.40/48972.55/48906.05/48839.10/48734.35/48636.45/48525.60/48292.25/48203.45/48161.75/48074.05/47898.35/47844.15/47702.90/47363.40/46983.75/46077.85/45828.80/45661.75/44633.85/44429/43600.25/43345.45/43230.95/42582.20/42105.40. 

Resistance:59674.80/59806.60/60114.30/60203.75/60231/60354/60473.20/60496/60650/60702/60736/60955/60980/61041/61342/.

OVERALL, VIEW: --

It opened on a negative note and thereafter had both side moves during the day and finally, ended the day with a loss of 347.40 points.  But it is also important to mention here that it still has earlier unfilled gaps (gap points are 56922.70, 55616.45,51361, 51244 & 50496), which is still a huge concern, although stipulated time for filling the gap is over long ago, but it will fill the gap one day for sure. So, be cautious. Please note that it is often exhibiting volatility and it is not a good sign for a steady market.

The technical setup has improved  quite a lot, but it is still into correction mode  and few important technical indicators are weak on the daily chart, which is concerning and can drag it down. But the good thing is that it is above few critical points and made higher top on the line chart, but yet to make higher bottom and also above almost all the averages, so watch out. Therefore moving down if it manages to holds its critical & key points of 59590-----59581.85--------59401----59347.89------58971.61----58925.70---58814.71----58799.90-----58712.70----58688.11(PTP)-----58649.50----57881---57157.85(figures may change) on the closing basis then there will be good chances that it could  continue the up-move. But please note that it is already into  correction mode , break & sustained close below the range of 59590-----59581.85will be an alert sign for going down, break & sustained close below the range of 59401----59347.89 will weaken it further, break & sustained close below  the range of 58971.61----58925.70---58814.71 will push it into deep correction mode, break & sustained close below 58712.70----58688.11(PTP)  may dampen the chances of up-move and finally break & sustained close below 57881 & 57157.85 (figure may change) may witness an accelerated fall and it will threaten the long term uptrend and then the correction could be more painful time-wise and price-wise both and then the possible support points could be at 56910.45---56744.27 and please note that break & sustained close below 56744.27 can drag it down to 55821 levels or below, which may please be noted.

Moving up the target or resistance points could be at 59674.80------59873.94-----59974.16----60015.42----60030.33------60036.21---60114.30-----60203.75---60221----60231---60354—60473.20---60496---60650---60736---60955 (some figures may change) (for complete resistance points see the table on the upside) it may correct at any of these points and then may resume the up-move again or may halt the up-move for a while. Please note that if it moves above 59674.80 and sustain on the closing basis then it will raise good hope for extending the up-move further, if it moves above 59974.16 and sustain on the closing basis then it is likely to retest its all-time high of 60473.20 or may go beyond it. But please note that to  get back into strong up-momentum and to remain in it in the year—2026 it has to moves above 60114.30 and sustain on the closing basis, else it may start to drift down. It is in the strong long-term uptrend but still into correction mode.

IMPORTANT NOTE: - THE IMPORTANT POINTS FOR THE YEAR--2026 ARE 59581.85---59674.80---60114.30 AND TO KEEP THE HOPE ALIVE FOR A CONTINUED UP-MOVE IT HAS TO SUSTAIN ABOVE 59581.85---59674.80 AND TO GET INTO STRONG UP MOMENTUM IT HAS TO MOVE ABOVE 60114.30  AND SUSTAIN ON THE CLOSING BASIS THROUGH-OUT THE YEAR , ELSE IT MAY START TO DRIFT DOWN.

TECHNICAL INDICATORS AND MOVING AVERAGE PLACEMENT;-

POSITIVE POINTS:-

1. It is above all of its short term moving averages on the daily, weekly & monthly chart.

2. it is above almost all of its medium term moving averages on the daily, above all on the weekly& monthly chart.

3. It is above all its long terms moving average on the daily chart and the top average is placed at 57881(figure will change daily) for the day.

4. the technical indicators, PS, ST & VM is in the buy mode, so it may rally at times but that may not last, so watch out.

NEGATIVE POINTS:-

1. Few important indicators such as EV, MACD & ADX is in the sell mode and RSI with negative divergence, so down move may happen at times.

2. It is below two of its medium term moving averages on the daily chart.

In view of the above observation there is a mixed possibility and it can swing both ways as of now with slight downward bias as of now. Furthermore please also note that earlier vertical rise, unfilled gaps, negative divergence and in the overbought zone on weekly & monthly chart is still a concern, therefore fall also cannot be ruled out in coming weeks & months. Please keep an eye on the critical resistance & support points and price action for further directional indication.

TECHNICAL INDICATORS PLACEMENT ON THE WEEKLY & MONTHLY CHART: -

WEEKLY CHART: - Almost all the important indicators are negative such as MACD, ST, PS, EV, VM & ADX are in the sell mode and RSI is neutral and it is in the overbought zone, therefore in totality further fall also looks quite likely in coming weeks. But it may swing both ways with a downward bias as of now.

MONTHLY CHART:-Few indicators are in the buy mode such as MACD, ST, PS & ADX but it is in the overbought zone and with negative divergence in RSI and VM is in the sell mode, therefore, all together indicators are painting a mixed picture now with a slight tilt towards down-side as of now.

IT IS BUY ON DECLINE MARKET NOW;-

It is still into correction mode but bounced back above key points, therefore now it will be buy on decline  market now till it sustain above 59581.85---59401  on the closing basis.  But short trade can also be tried on sharp rise and near critical resistance points or range, for intraday corrective gains.

STRENGTH: -

1. It is above its most crucial 1^st & 2nd bottom of 58712.70 & 57157.85, if it sustains above, it on the closing basis then the chances of the up-move will be alive, else it may correct sharply.

2. It is above its major long-term rising trend line which is placed at 58707 for the month of February-2026, it is a good sign.

3. Its major long term rising trend line drawn from the bottom of 16116 made in 2020 is placed at 58464 (figure may change daily) for the day.

4. It made higher top on the line chart, but yet to make higher bottom, so watch out.

5. It is into correction mode but above few of its correction threshold points of 59347.89----- 58971.61-----58814.71 (figure may change), sustained close above these points can keep the hope alive for an extended up-move.

6. It is above all its short-term moving averages now on the daily chart and the important average range for day is between 59590---59478--59469---59452---59423---59401(figure will change every day), sustained close above this range can help it to extend the up-move.

7. It is above 1^st & 2^nd short term rising trend line which are placed at 58646 &58184(figure will change every day).

5. The price action was mixed today.

WEAKNESS: -

1. Volatility and wild swing can be seen in the market quite often, which is not a good sign for a steady market condition and it can eventually drag it down may be drastically in the coming days/weeks and months. So be watchful.

2. It is into correction mode as it is below few of its correction threshold points of 60036.21---60030.33------60015.42-----59663.39 (figure may change), sustained close below this range can drag it down.

3. It is below its recent down trend line which is placed at 59990(figure will change every day) for the day.

TRADING CALL: -- 

1.

Long trade can be tried on decline near or within the range of 59581---59501 if it hold this range for some time then, with a stop loss of 59390 for intraday gain else avoid. Please note that long trade in a corrective market could be a risky affair, but can be tried near critical support points for intraday gains.

2. Short trade can be tried on the rise near or within the range of 59875---59975 with a stop loss of 60120 or can sell if it moves below 59500 and maintain for some time then with a stop loss of 59700.  It could be a risky trade but can be tried for intraday corrective gains.

NOTE: - If it opens up with huge gap up then wait for it to settle down before initiating long position, but short trade can be attempted on huge gap up if it is near the selling point and vice versa. Since, it is showing volatility so any type of trade should be squared off during the day, if you don’t have reasonable profit margin in the trade. Day squaring off is strongly suggested in any case.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS. 

Note: Price stated here are of spot market. 

Thanks 

Narendra Kumar Surana

Email—suranank@gmail.com

Mobile—8240951127/9831313654.