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Buy Silver above Rs 54,000: Nirmal Bang

SI Reporter/New Delhi 17 Aug 12 | 10:31 AM

Find out the trading strategies for various commodities.

Gold

Gold prices as expected tested Rs 30,200 - 30,250 zone on higher end and witnessed profit booking, we can witness price to test Rs 30,000 – 29,950 on lower end. Unless price close above 30250 we recommend not to enter into fresh long

Silver

Silver prices expected to witness a range bound move from Rs 54,000 to 53,000. One can 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 around Rs 417. One can sell with a stop loss above Rs 420.

Nickel

Nickel prices are expected to trade within Rs 955 – 980. Prices are expected to strengthen above Rs 973.

Lead

Lead prices can bounce till Rs 104.20 - 104.40, one can enter around Rs 102.50 with a stop loss below Rs 101.50

Crude Oil

Crude prices are expected to trade higher around Rs 5450. One can maintain a intraday stop loss below Rs 5240.

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