Flat to positive opening is expected with possibility of short covering at higher levels if sustained above 5450 on failure we may see profit booking also as market is making double top here .
So be cautious and trade under expert supervision'.
positional traders can hold their long positions with stoploss of 5350 targets are 5652 5919 as per fib levels drawn at 3 year weekly chart ..
Buy at / above: 5457 Targets: 5473 - 5491 - 5510- 5528
Stoploss : 5439
Sell at / below: 5439 Targets: 5423 - 5404 - 5386 - 5368
Stoploss : 5457
You will find 2 types of moves in markets
range bound -in that no major change in prices
trending - where price moves in waves either up or down
apart from this we can see break out /break down as it was noticed yesterday in silver ...within 3 hours it was crashed by 2800 points and still trading below 2000 Rs.
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http://www.dhanvarsha.in/2012/09/sell-silver-micro-at-and-below-63800.html
to protect your capital from such wild moves it is advised to trade with strict stoploss.
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bittu
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