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Commodities
Silver - April 20, 2021 - Reliance Securities
Posted On : 2021-04-20 16:37:11( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
In other precious metals, silver prices this early Tuesday afternoon trade in Asia tracking the weakness of the U.S. Dollar.
Technically, LBMA Silver Spot is indicating for strong uptrend where above $26.00 level indicating for further upside movement up to $26.60-$27.30 levels. Support is at $25.30-$24.60 levels.
Domestic silver prices are trading higher this early Tuesday afternoon trade tracking firm overseas prices.
Technically, MCX Silver has sustained above 68000 support levels and now could see a bullish rally up to 69300-70100 levels. Support is at 67800-66900 levels.
Strategy for Silver May will be buying near 68000 with a stoploss at 67000 and a target at 70000.
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.
