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

By Rajesh V

Published: Tuesday, September 20, 2011, 9:52 [IST]

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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Story first published: Tuesday, September 20, 2011, 9:52 [IST]

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