Today market showing a bearish trend since morning, correction in rupees not enough to get back bullion in positive side. At MCX bullion are trading low on intraday trade for future delivery, gold for august delivery open at 27863 and touched an intraday low of 27685. In evening trade same trend are following in evening trade.
White metal are also following yellow metal for future active contract, today silver fall by more than -300 point on intraday trade, silver prices are expecting for fall more in intraday trade with some correction on evening trade.Crude oil and lead showing a mixed reaction on intraday trade, on Wednesday morning crude oil open in downside but a good recovery had seen in afternoon trade, crude for future delivery touched an intraday high of 5545 after opening at 5512 and low of 5492. Open interest support the trend but some red sign must be seen in crude in evening trade.
Lead prices are slipping on intraday trade in this week due to negative trend in rupees, but on Wednesday morning a small correction are seen in lead prices for June trading. In evening mixed reaction are expected with same trend with average volume.
Buy crude above 5525 tgt 5530, 5535, and 5550++……sl 5480
Buy lead above 122.50 tgt 122.80, 123.50, 124……………sl 120
Sell gold below 27650 tgt 27620, 27550, 27500---……. 28015
Sell silver below 43350 tgt 43300, 43250, 43100…………sl 43800
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