Sell MCX Silver March; target Rs 43800: Way2Wealth

Way2Wealth's special report on metals & energy

MCX Silver March is falling in lower low/high mode. In the past week, prices tested the falling resistance line and witnessed some sell pressure. Further selloff cannot be ruled out from current levels, which will drag prices towards the next support level which is pegged at 43800. The trade set up at current levels is favorable for the bears. MACD is balanced in the negative territory, indicating further weakness in the counter. Action - Sell
Entry - 44900
Target - 43800
Stop - 45551 MCX Crude oil has completed the bullish head and shoulders chart pattern, on the daily chart. The falling neckline is placed at 6030 levels. Projected
target according to the pattern is around 6240 levels. Prices have retested the resistance turned support line. Now we expect prices to turn their
direction from current levels and start inching higher. Action - Buy
Entry - 6030
Target - 6240
Stop - 5920 (Prices in Rs.) Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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