Gold trading above Rs 27,800 is crucial for bulls

Open range breaks out (orb) – buy or sell on either side breakout and keep stop loss of another side. For target and trailing stop loss follow supports / resistances levels.

Copper – Nov:

Open range break-out levels (ORB): Rs 400 / 397.50
Supports: Rs 396.80 / 395.20 / 392.60
Resistances: Rs 400.80 / 402.40 / 405 / 406.60

Nickel – Sept:

ORB levels – Rs 1,017 / 1,005.90
Supports – Rs 1,009.20 / 1,005.90 / 1,000.60 / 992.10
Resistances – Rs 1,016.90 / 1,022.10 / 1,030.60 / 1,036

Crude – Oct:

ORB levels – Rs 4,191 / 4,140
Supports – Rs 4,154 / 4,140 / 4,116 / 4,078
Resistances – Rs 4,191 / 4,214 / 4,252

Gold – Oct:

Gold has immediate resistance at Rs 28,120 levels, On breaking above this level it may test Rs 28,225 / 28,300. Downside side gold has support at Rs 27910 / 27850 / 27740. Trading above Rs 27,800 will confirm bulls’ hand in market.

Silver –Dec:

Silver has immediate support at Rs 63,960 – 63,900 levels; trading above Rs 64,000 mark is positive sign for bulls. upper side levels are Rs 64,520 / 64,700 / 64,870 / 65,120. Silver has strong support at Rs 63,500 levels.

For positional long keep Rs 63,750 levels as stop loss on close base.

Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in broking industry. He is a contributing writer for www.goodreturns.in. You can contact him at rajeshvravanappan (at) gmail (dot) com

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