Experts recommend buying silver on dips

T Gnanasekar, Comm Trendz Research & Fund Mgmt recommends buying silver on dips. He says,“We believe that silver which has been lagging behind gold in this entire move could catch up. Silver can be bought on any dips to Rs 56,700-Rs 56,800 one can keep a stop loss at Rs 56,200 and target of Rs 58,000.”

According to Shreekant Jha, PJ Commodity Ventures, yesterday, crude moved in a very narrow range and after touching the target of Rs 5,300 day before yesterday. It has hovered around Rs 5,100 per barrel.

“If one is hanging onto their long levels then keep a tight stop at Rs 4,900 because a break below that may trigger off some selling.”

Meanwhile, Ram Pitre, Head research, ITI Limited, suggests buying copper at Rs 406 with a stop loss of Rs 403 and target of Rs 411 and Rs 412.

Tarang Bhanushali, AVP Research -India Infoline believes that gold prices would continue to trade in the range of USD 1680 per ounce on the downside and USD 1,750 on the upside.

“On the international exchange one can go short USD 1.745. On the MCX one can short February futures at Rs 29,300- Rs 29,400 with a target of Rs 28,800 and stop loss of Rs 29,550,” he adds. – CNBC

Tags: price of silver, Silver, silver analysis, silver news, silver price, silver price 2012, silver price forecast, silver prices, silver spot, spot silver

Posted by Silver Guru on Dec 2 2011. Filed under Silver Analysis. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry