(Time Zone: Arizona, USA)
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.
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