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

By Rajesh V

Gold can fall up to Rs 24,250: Rajesh V
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 You can contact him at rajeshvravanappan (at) gmail (dot) com

If you would also like to contribute or send us a feedback, then e-mail to money (at) oneindia (dot) co (dot) in DISCLAIMER: The views expressed in this article are the views of the author and do not reflect the views of our company. does not take any responsibility for any losses incurred by investors who take their cues from the above article.

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