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Commodities
Silver - Feb 25, 2021 - Reliance Securities
Posted On : 2021-02-25 16:39:04( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International silver prices are trading in the red in choppy trading sessions this Thursday morning and early afternoon trade.
Technically, LBMA Silver Spot is trading below $29.00 indicating a sideways to bearish momentum could continue upto $27.20-$26.40 levels. Resistance is at $29.00-$29.40 levels.
Domestic silver on the other hand is trading higher this Thursday morning and early afternoon trade bucking overseas prices.
Technically, MCX Silver March has bounced back from 68650 levels and is trading on a positive note indicating further upside up to 70200-71000 levels. Support is at 69100-68400 levels.
Strategy for Silver March for the rest of the session will be Buy near 69200, with a stoploss at 68600 and a target at 70500.
Disclaimer: The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment / trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained herein.
