Silver will test Rs 63,500 level. Rajesh V views commodities

Written by: Rajesh V
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Recommendations on commodities by Rajesh V
Open Range Breaks-Out (orb) means to buy or sell as recommended on either-side of the breakout, meanwhile keep stop loss on the other side, for target and trailing stop loss refer to support and resistance levels.

Copper – Nov:
Open range break-out (ORB) levels: Rs 406.75 / 403
Supports: Rs 403 / 401.50 / 399.10
Resistances: Rs 406.75 /408.30 / 410.60

Nickel – Sept:
ORB levels – Rs 1,021.10 / Rs 1,007.80
Supports – Rs 1,011 / 1,007.80 / 1,002.50
Resistances – Rs 1,017.75 / 1,021.10 / 1,026.40 / 1,035

Crude – Oct:
ORB levels – Rs 4,144 / 4,091
Supports – Rs 4,106 / 4,091 / 4,067
Resistances – Rs 4,129 / 4,144 / 4,167 / 4,206

Gold – Oct:

Gold has immediate support at Rs 27,580-27,500 levels; if holds these levels gold can bounce back till Rs 27,690 / 27,760.
Breaks below Rs 27,500 it may test Rs 27,400 / 27,280.
Close above Rs 27,800 is important for bulls in gold.

Silver – Dec:

Silver has immediate support at 62950 levels; if breaks this level it may test Rs 62,650 / 62,250 / 61,750. Upper-side it can go till Rs 63,430 / 63,700.
Close above Rs 63,500 is important for bulls in silver.

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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