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MTECHTIPS:- SILVER
The silver had a range bound session yesterday as it failed to break above the 55000 levels. Silver dipped from its highs in yesterdays session to close around 54000. The commodity has very strong support at lower levels around 53500, any dip in the commodity below these levels will open up levels of 53000 in coming days. Silver has strong resistance above 54800, any sustained move above these levels in the commodity will soon open up 55500 levels.mcx silver future trading at 54145 with loss of almost 1%.for tomorrow selling may continue and here also there rupee effect so for tomorrow follow stoploss of 55,100 and targets will be 53,500 and below.here also RSI given sell signal at 54,600 and still continues.
The silver had a range bound session yesterday as it failed to break above the 55000 levels. Silver dipped from its highs in yesterdays session to close around 54000. The commodity has very strong support at lower levels around 53500, any dip in the commodity below these levels will open up levels of 53000 in coming days. Silver has strong resistance above 54800, any sustained move above these levels in the commodity will soon open up 55500 levels.mcx silver future trading at 54145 with loss of almost 1%.for tomorrow selling may continue and here also there rupee effect so for tomorrow follow stoploss of 55,100 and targets will be 53,500 and below.here also RSI given sell signal at 54,600 and still continues.
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