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SILVER:-

As per our last week’s view, MCX SILVER prices traded with a negative bias. Prices recorded the low of 61536 for the week. Further also prices are likely to trade with negative bias. Prices are likely to head below 60,000 level in coming sessions. Any rise in prices can be used as a opportunity to create short position in the counter.

SELL MCX SILVER SEP IN THE RANGE OF 62500 TO 63000 FOR THE TARGET OF 60000/58000 WITH STOP LOSS ABOVE 64500.

NICKEL:-

MCX NICKEL prices recovered sharply from the lows of the week and are now trading above the 20 - moving average on daily chart. Prices are likely to continue the primary trend on the upside. Any dip in the prices can be used as an opportunity to create long position in the counter. Prices are likely to head towards 1530 level in coming sessions.

BUY MCX NICKEL AUG IN THE RANGE OF 1480 TO 1485 FOR THE TARGET OF 1520/1540 WITH STOP LOSS BELOW 1465.

NATURALGAS:-

After recording the high of 312, MCX NATURAL GAS prices have been consolidating on the lower side. Prices have broken below the 20-day moving average after a long time. We expect this consolidation to head more on the lower side in coming sessions.

SELL MCX NATURAL GAS AUG BELOW 285 FOR THE TARGET OF 265/255 WITH STOP LOSS ABOVE 305.

TURMERIC:-

NCDEX TURMERIC prices are showing strength on the daily chart. Prices have broken above the key resistance on the daily chart and have also formed a base at 100 EMA level on daily chart. We expect prices heading towards 9000 level in coming sessions.

BUY NCDEX TURMERIC SEP IN THE RANGE OF 8000 TO 8050 FOR THE TARGET OF 9000/9500 WITH STOP LOSS BELOW 7400.

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