Silver Time to Exit -
In last post I wrote on 25th November 2010 I expected silver to reach a target of 60,000 in two years or so. At that time silver was trading at 42000. Today in less than four months time silver had reached 62,000 and it had completed its target.
We can see that silver had completed a long term formation on charts and upside form the current levels should be limited. Although i don't rule out silver moving up to 72,000 from here, I will advise traders and investors to start exiting long positions in Gold and silver.
Nifty:- In my last post on Nifty I had asked traders to buy the market at 5400 levels with a stop loss of 520 on weekly closing basis and target of 6000 on Nifty. As readers will observe that nifty made a low of 5177 while the lowest close was above 5303. Currently market is trading around 5700. Traders can hold their long position. with a stop loss of 5550 on weekly closing basis.
In last post I wrote on 25th November 2010 I expected silver to reach a target of 60,000 in two years or so. At that time silver was trading at 42000. Today in less than four months time silver had reached 62,000 and it had completed its target.
We can see that silver had completed a long term formation on charts and upside form the current levels should be limited. Although i don't rule out silver moving up to 72,000 from here, I will advise traders and investors to start exiting long positions in Gold and silver.
Nifty:- In my last post on Nifty I had asked traders to buy the market at 5400 levels with a stop loss of 520 on weekly closing basis and target of 6000 on Nifty. As readers will observe that nifty made a low of 5177 while the lowest close was above 5303. Currently market is trading around 5700. Traders can hold their long position. with a stop loss of 5550 on weekly closing basis.
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