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Commodities
Silver - May 17, 2021 - Reliance Securities
Posted On : 2021-05-17 18:15:07( TIMEZONE : IST )
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International silver prices are trading with solid gain on Monday early afternoon trade in Asia, tracking firm silver prices.
Technically, LBMA Silver could trade on bullish momentum up to $27.90-$28.30 levels. Support is at $27.25-$26.50 levels.
Domestic silver tracked overseas and are trading with gains on Monday early afternoon trade.
Technically, MCX Silver July has formed a bullish Engulfing Candlestick indicating a sign of bullish reversal. A trade above 71500 can take prices up to 72700-73350 levels. Support is at 70800-69700 levels.
Strategy for Silver July for the rest of the session is buying on dips near 71800 with a stoploss at 71000 and a target at 73000.
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.