Silver prices may touch Rs 54300-54500: Nirmal Bang

Nirmal Bang has come out with its report on Gold, Silver, Copper, Nickel, Lead and Crude Oil. According to the research firm, Silver prices are likely to witness a broader range from Rs 53000-54300. Unless 53000 is not defeated, expect a bounce banc till Rs 54300 -54500. Oscillators too are in oversold zone.

Gold prices are expected to trade within the range from 29400 to 29800 for the day. Prices have continued to remain weak. A bounce is expected till 29800 -29850 if prices sustains above 29650.

Silver prices are likely to witness a broader range from 53000 to 54300. Unless 53000 is not defeated, we expect a bounce bank till 54300 -54500. Oscillators too are in oversold zone.

Copper prices have witnessed a continued selling pressure and for the day prices are expected to trade within the range from 421 to 427.

Nickel prices are expected to witness selling pressure till 900 – 895. Prices are expected to trade within the range from 900 to 925. Pressure likely to increase below 908.

Lead prices are expected to test 123 -122.50 on lower end. One can keep a stop loss above 125.30 for the target at 123.

Crude price are expected to test 5020-5000 on lower end, intraday price movement is expected to be between 5100 -5000. If sustains below 5070 one can sell with a stop loss above 5100.

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