Short Gold; stop loss above Rs 30900: Nirmal Bang

Nirmal Bang has come out with its report on Silver, Gold, Copper, Nickel and Lead. According to the research firm, Gold prices are expected to trade negative till Rs 30400 and further down to Rs 30000. One can short with a stop loss above Rs 30900. Any rise could be a selling opportunity.

Silver prices are expected to trade negative a sustained move below 57700 could trigger fresh selling to the tune of 56300.Caution is advised for long position.

Copper prices are likely to trade within the range from 447 to 442. One can sell the counter with a stop loss above 448.

Nickel prices are expected to witness a sideway move from 990 to 960. If price sustains below 988 one can sell for intraday with a stop loss above 997.

Lead prices are expected to trade within the range from129.50 to126.50. One can witness selling pressure around 129.50, one can sell for intraday with a stop loss above 130.70.

Crude price are expected to trade within the range from 5240 to 5180. One can buy on dip around 5190 with a stop loss below 5150. Fresh buying expected above 5250.

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To read the full report click on the attachment

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