MCX SILVER prices have been consolidating below the key moving averages on daily chart - Ventura Securities
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SILVER:-
MCX SILVER prices have been consolidating below the key moving averages on daily chart. Last week, prices have been rejected at the 20 MA and 100 MA levels and consolidated back on the lower side. We expect prices will head lower in the coming week towards 65000 level.
SELL MCX SILVER SEP IN THE RANGE OF 66500 TO 66800 FOR THE TARGET OF 65500/65000 WITH STOP LOSS ABOVE 67800.
NICKEL:-
MCX NICKEL prices have been consolidating from last few trading sessions. Prices have taken support at 20 days moving average and started moving on the upside. Key support is seen at 1450 level for coming sessions. Prices are likely to head higher towards 1500 level in the coming week.
BUY MCX NICKEL AUG IN THE RANGE OF 1470 TO 1475 FOR THE TARGET OF 1500/1530 WITH STOP LOSS BELOW 1450.
NATURALGAS:-
As per our last week’s view, MCX NATURAL GAS prices traded positive for the entire week. We expect the uptrend to continue further. Prices may head towards 350 level in coming sessions. Any dip in the prices can be used as an opportunity to create long position in the counter.
BUY MCX NATURAL GASAUG THE RANGE OF 300 TO 305FOR THE TARGET OF 330/350 WITH STOP LOSS BELOW 280.
DHANIYA:-
NCXDEX DHANIYA is forming bullish setup on weekly chart. Prices will face strong resistance at 7600 level on weekly closing basis. Breaking above this level, we may expect prices heading towards 8000/8500 level in coming days.
BUY NCDEX DHANIYA AUG ABOVE 7600 FOR THE TARGET OF 8100/8500 WITH STOP LOSS BELOW 7000.
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