3:24 PM
Nifty Tips
MARKET OVERVIEW (Gold)
COMEX Gold is in an upward phase. Last week COMEX Gold sustain above 1520$ and made a close near to its week high. In the coming week 1475$ will act as a major support in COMEX Gold, if COMEX Gold sustains above 1520 $ an ounce
then above 1550 $ an ounce it can touch the level of 1565$ an ounce and if COMEX Gold sustains below 1500$ then it can slightly correct and test the
level of 1485$ an ounce.
STRATEGY
For the next week traders can use buy on lower level strategy if COMEX Gold sustains above 1520 $ an ounce, then above 1550$ it can test the level of 1565 $ an ounce and above 1575$ it can further move upward. Trade by keeping
the strict stop losses.
Major support for COMEX Gold in the coming week is 1500$ and 1460$.
Major resistance for COMEX Gold in the coming week is 1580$ and 1625$
Major support in MCX Gold is 22400 and 22200
Major resistance in MCX Gold is 22850 and 23050
MARKET OVERVIEW (Silver )
COMEX Silver is technically consolidating on charts. Last week COMEX Silver was sustaining at lower levels for most part of the week. For the
upcoming week 3480$ and 3250$ are the crucial supports and 4000$ and 4250 $ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 64000 will act as major resistance and 52000 and 50000 will act as major supports.
STRATEGY
Technically COMEX Silver is bullish on charts and still in an upward channel, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3600$ an ounce, then above 3900$ an ounce it can further go
upward and can test the level of 4000$ an ounce. Trade by keeping the proper stop losses.
the strict stop losses.
Major support for COMEX Gold in the coming week is 1500$ and 1460$.
Major resistance for COMEX Gold in the coming week is 1580$ and 1625$
Major support in MCX Gold is 22400 and 22200
Major resistance in MCX Gold is 22850 and 23050
MARKET OVERVIEW (Silver )
COMEX Silver is technically consolidating on charts. Last week COMEX Silver was sustaining at lower levels for most part of the week. For the
upcoming week 3480$ and 3250$ are the crucial supports and 4000$ and 4250 $ are crucial resistance in COMEX Silver. In MCX Silver 61000 and 64000 will act as major resistance and 52000 and 50000 will act as major supports.
STRATEGY
Technically COMEX Silver is bullish on charts and still in an upward channel, For the next week traders can use buy on lower level strategy if Silver sustains above the level of 3600$ an ounce, then above 3900$ an ounce it can further go
upward and can test the level of 4000$ an ounce. Trade by keeping the proper stop losses.