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Sell copper with stop loss at Rs 420: Nirmal Bang

SI Reporter/New Delhi 16 Aug 12 | 11:40 AM

Check out the trading strategies foe various commodities.

Gold

Gold prices are expected to trade within a range from Rs 29,900 – 30,200, one can buy around Rs 30,000 with a stop loss below Rs 29,900 for intraday. Fresh buying expected above Rs 30,250 on closing basis.

Silver

Silver prices expected to witness a range bound move from Rs 53,000 to 54,000. One trade within the range with a positive bias, fresh buying recommended above Rs 54,000 on closing basis.

Copper

Copper prices are likely to witness selling pressure below around Rs 416 – 417, one can sell with a stop loss above Rs 420.

Nickel

Nickel prices tested the resistance zone at Rs 867 – 872 one can maintain a stop loss above Rs 881 and sell the metal.

Lead

Lead prices have corrected to the tune of Rs 102.80 which seem to hold, for trading one can buy with a strict stop loss below Rs 102.80.

Crude Oil


Crude prices are expected to rise till Rs 5440 one can buy around Rs 5240 with a stop loss below Rs 5150.

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