Gold has target around Rs 28900-28800: Nirmal Bang

Gold prices are expected to trade within a channel, one can initiate a sell below 29130 or sell on rise till 29230 29250 with a stop loss above 29370 for the target of 28900 28800.

Silver prices are trading within a very narrow range, prices are likely to hold 52500 on closing basis, we can expect a bounce till 53400. One should buy around 52500 with a stop loss below 52000.

Copper prices tested 431.70 on higher end yesterday and are expected to open down as it tested the resistance and 432. Prices can test 427 and bounce back. One can trade within the range from 425 to 433.

Nickel prices are expected to trade within 885 to 905, one could trade within the range. One should exit all long position below 880.

Lead prices are trading strong and one can expect buying to continue once it holds the support at 105.30 -105. Buying on dips is recommended.

Crude prices can witness profit booking to the tune of 5060 5070, which should be a buying opportunity for the target at 5200.

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