Silver will be weak below Rs 64,700: Rajesh V

By Rajesh V

Published: Thursday, September 15, 2011, 9:54 [IST]

Rajesh opines that gold should be traded only if the same is above the Rs 28k mark. Meanwhile for Silver the support of Rs 64,700 is crucial.

Gold – Oct:

The level of Rs 28,800 & 26,800 are important for gold for further move, close above or below these levels will decide further trend.

For intraday - trade gold if it maintains above Rs 28,230 it will positive for bulls, and downside breaking below Rs 28,000 is weak and next levels are Rs 27,940 / 27,860 / 27,760.

Silver – Dec:

Below Rs 64,700 levels are weak indication for silver; only above Rs 65,400 we can see bull strength in market. Silver has immediate support at Rs 64,400 levels; we can expect pull back from this levels in intraday.

Copper – Nov:

The level of Rs 412.75 / 415.60 are important orb (open range breakout) levels; open should be above Rs 414.60 for bull side.

Supports – Rs 412.80 / 411.30 / 408.75
Resistances – Rs 415.60 / 417.20 / 419.65

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: Thursday, September 15, 2011, 9:54 [IST]

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