Sell copper with stop loss at Rs 420: Nirmal Bang
Check out the trading strategies foe various commodities.
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 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 prices are likely to witness selling pressure below around Rs 416 – 417, one can sell with a stop loss above Rs 420.
Nickel prices tested the resistance zone at Rs 867 – 872 one can maintain a stop loss above Rs 881 and sell the metal.
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 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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