Buy MCX Silver for target of Rs 58700: Nirmal Bang

Nirmal Bang has come out with its report on Gold, Silver, Copper, Nickel, Lead and Crude Oil. According to the research firm, if Silver price holds Rs 57700; one can initiate a buy for the target around Rs 58700 with a stoploss below 57200.

Gold prices are expected to trade within the range from 30150 to 30450, for intraday if price holds above 30150 one can expect a bounce. Below 30150 we expect price to drift down till 29650. Short term trend is weak.

Silver prices are expected to trade within a range from 58600 to 57200. One can trade within the range. If price holds 57700 one can initiate a buy for the target around 58700. One can buy with a stop loss below 57200.

Copper prices are likely to trade within the range from 436 to 443. One can buy on dips with a stop loss below 435.

Nickel prices are expected to trade sideways to positive one can expect prices to test 960 -965 on higher end. One can buy around 947 – 945 with a stop loss below 936.

Lead prices are expected to trade within the range from130 to127. One can trade within the range with a positive bias keeping a stop loss below 126.80.

Crude price looks positive one can buy on dips around 5210 -5200 with a stop loss below 5185. Prices are expected to test 5270 on higher end.

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