SILVER MCX & COMEX WEEKLY OUTLOOK

SILVER MCX & COMEX WEEKLY OUTLOOK (23-SEPT-2013)

SILVER COMEX:
Immediate Resistance @23.15$
Immediate Support @22.35$

Silver COMEX if Sustains above 23.35$ may head towards Higher Levels. For the next week Strategy should be to buy SILVER COMEX around 22.35$. Alternatively If Breaks 22.30 then may Initiate Short Position. Next Support Lies around 20.25$.

We Recommend to Sell SILVER COMEX Below 22.25$ SL 22.80$ TGT 20.25$

 SILVER MCX:
Immediate Support @48450
Immediate Resistance @51200

SILVER MCX if breaks the level of 48400 next  week one may initiate short Position. For pull Back Strategy one can Take Risk to long around 48500 with Small Stop Loss. Above 51200-51500 Silver May enter Bullish zone and Fresh Long Position Can be Initiated.

We Recommend to Sell SILVER MCX below 48300 SL 48800 TGT 47100

GOLD COMEX & MCX (23-SEPT-2013)

GOLD OUTLOOK FOR NEXT WEEK (23-SEPT-2013)

GOLD COMEX:
Immediate Resistance @1347-1350$
Immediate Support @1300$

For the next Week (23-Sept-2013) Trading Strategy Would be to Sell on rise around 1347$ and also Below 1295$. Trend is in favour of bears. alternatively if sustains above 1350$ we may see Gold heading towards 1410$.

GOLD MCX:
Immediate Resistance @30400$
Immediate Support @29800$

For the next Week (23-Sept-2013) Trading Strategy Would be to Sell Below 29800 with SL 30400 TARGETS 29200. Trend is in favour of bears. Alternatively if sustains above 30500 we may see up trend resuming.

USDINR looks weak on fundamental reasons and RBI policy impact can bee seen this week. Market may trade too volatile and hence do not trade without stoploss