Gold can fall up to Rs 24,250: Rajesh V

By Rajesh V

Published: Tuesday, September 27, 2011, 9:56 [IST]

Gold can have a downside to Rs 24,250 says Rajesh. Meanwhile for silver he is advising that trades should be made with stop loss margins of 1000 points.

Copper – Nov:

Copper has closed above breakout level; if opens and trade above Rs 364 will be strong indication for bulls in copper.
Levels are – Rs 365.50 / 368 / 372
Supports – Rs 362.70 / 360.25

Crude oil – Oct:

Crude also closed positively; trading above Rs 4,008 levels will be add more strength for bull in crude.

Upper levels – Rs 4008 / 4035 / 4078/ 4104
Supports – Rs 3990 / 3977 / 3950

Nickel – Sept:

Supports - Rs895 / 890 / 882
Resistances – Rs 905.40 / 913.30 / 926.20

Gold – Oct:

The breakout levels for are Rs 26,250 & 25,000 levels. On the up side it may move till Rs 27,000 & downside it may test Rs 24,250 levels.

If it breaks above Rs 26,250 then it is advisable to go long.

Silver – Dec:

Closed above Rs 51,100 is positive sign for silver; silver has strong resistance at Rs 53,500 levels. As we have huge fall in silver, minimum 1000 points need to be place as intraday stop loss.

Supports are – Rs 48750 / 45890
Resistances – Rs 53400 / 55700

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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Story first published: Tuesday, September 27, 2011, 9:56 [IST]

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