Rajesh V: The action will be in Gold, Silver and Copper

Written by: Rajesh V

The action will be in Gold, Silver and Copper
From September 2, 2011, a short fall in client's margin will be penalized by the SEBI (Securities Exchange Board of India). Therefore, this could affect the volumes, as it could drop, in equity derivatives, this will benefit the commodity market since it will attract new clients.

Today I will share my opinion on the commodity segment, it will be one of the most active segment among the investment instruments over the next few months.

Gold - October
Gold has strong support at Rs 26,925 levels. Above Rs 27,270 levels we can expect more rally in gold. If it close above Rs 27,380 will be indication for bulls" strength.

Silver – September
The levels of Rs 62,700 and Rs 63,470 levels important levels for upper side, close above Rs 62,700 it will be clear bull signal for silver.

At Rs 61,400 Silver has strong support for bottom side, we can expect pull back at this level; close below this will be lead to bear hand in silver.

Copper – November
Copper has strong support at Rs 416 levels, staying above Rs 416 will be add strength to bulls. Upper side of Rs 425 has resistance for copper. Copper should close above 425 for confirmation of further rally.

Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in broking industry. He is a contributing writer for www.goodreturns.in. You can contact him at rajeshvravanappan (at) gmail (dot) com

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GoodReturns.in DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. GoodReturns.in does not take any responsibility for any losses incurred by investors who take their cues from the above article.

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