Silver Short, Lead Short, weekly view for 2nd sep

Commodity Market Weekly Technical Report 2^nd Sep 2013

Silver:-

Silver on MCX has risen almost 50% in the last 3 weeks from Rs40000 levels and went near Rs60000 levels. Prices have taken resistance near Rs60000 and corrected very sharply in the last few days. We are expecting prices to move down till Rs45000 in the next few days.

We recommend selling Silver on rise till Rs57000 for the targets of Rs47000 and Rs45000. Positional stop loss should be placed above Rs60000.

Lead:-

Lead on MCX has risen almost 30% in the last 5 weeks from Rs120 levels and made a new record high of Rs155.40. Prices have taken resistance around Rs155 and corrected very sharply in the last few days. We are expecting prices to move down till Rs130 in the next few days.

We recommend selling Lead on rise till Rs148 for the targets of Rs134 and Rs130. Positional stop loss should be placed above Rs156.