Higher level some profit booking were seen......We may consider resistance 20550-20600, whereas the down side support 20100-20150, decisively break will test 20000 mark, thereafter more selling pressure cannot be ruled out.
Gold Tips : Sell around Rs20450 stop above Rs20500 target- Rs20380- Rs20320 ranges.
Gold for February contract is trading at Rs 20,484.00 against Previous close price of Rs 20,520.00 (down by 0.18%). (At 2:39 P.M today)
Bullish trend with high volatility compared to GOLD.. On a technical front we may consider resistance 44800-45200 range and decisively crossover will invite short covering and fresh buying.... In case reversal to sell side, down side 43500 is a good support to be watch out and weakness only below that level.
Silver Tips : Sell around Rs44500-580 stop loss at Rs44750 target- Rs44250- Rs44100 ranges.
Silver for March contract is trading at Rs 44,307.00 against Previous close price of Rs 44,421.00 (down by 0.26%) (At 2:41 P.M today)
Looks very hot commodity, Copper deficit and supply concern will up move continue in this commodity. Traders should continue hold long but fresh long should not be advisable at current level.... Chines rate hikes will impact prices in this commodity. Down side we may consider support range 415-416, till then no problem for bulls.
Copper Market is already in deficit stage, on the other hand recent labor action in Chile mine, closure of an important port is seen exacerbating the already fragile supply situation and already maintaining above $ 9000 tone. Restocking demand is likely emerge soon.
Copper Tips : Sell at open market stop loss above Rs429 target- Rs424- Rs422 ranges.