Silver - Feb 5, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

International silver prices are trading with gains this Friday morning and early afternoon trade in Asia amid hopes of passage of the U.S stimulus could spur industrial demand for the white metal.

Technically, LBMA Silver Spot could trade in a sideways momentum in the range of $26.00-$27.80 levels.

Domestic silver prices are trading higher this Friday morning and early afternoon trade, tracking the overseas markets.

Technically, MCX Silver March holds a support of 21-Daily Moving Average at 67300 levels and above which could see sideways to bullish momentum. The range for the day will be 66000-68300 levels.

Strategy for the rest of the session is Sell Silver March Sell near 67500-67550 with a stoploss at 68500 and target at 65500.

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Source : Equity Bulls

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