Gold may bounce to Rs 29550-29600: Nirmal Bang

Gold: The upward rally in mcx gold was halted due the appreciation in the rupee, as comex gold was hovering to almost $1625 on higher end and mcx gold was at the lower end for the day. For the day we expect price to bounce till 29550-29600 were one can sell with a stop loss above 29680.

Silver prices are likely to trade within a range from 53200 -54200 one can trade within the range. One can buy around 53400 with a strict stop loss below 52900.

Copper prices are expected to trade lower if sustained below 425, prices are witnessing a range bound move from 432 to 422. One can trade within the range.

Nickel prices are expected to trade within the range from 925 to 955. One can trade within the range, however oscillators indicate a flat to down move.

Lead prices are expected to trade within 103.50 to 106. One can buy on dips and sell on rise within the range. Oscillators indicate a flat to positive move ahead.

Crude prices are likely to trade positive above 4815, one can buy around 4715 with a stop loss below 4670. Oscillators indicate positive move ahead so buying on dip is recommended.

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