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Silver Consolidates In Tight Range, Resistance 46000

Published 01/21/2014, 04:04 AM
Updated 05/14/2017, 06:45 AM

Silver
Silver traded range bound throughout the last week. The counter re-mained in a tight range over the last 2 months and seems prices consoli-dated within the range. Going forward, Rs 46000 per kg at MCX is a strong resistance mark for the counter and breaching of the same could bring fresh up ward breakout in the counter where in Rs 47500 and Rs 49000 will be the probable targets. On the contrary, Rs 43600 seems to be strong support for the counter. Traders should keep a close eye to-ward the said resistance mark and one can initiate buying only once the counter manages to close above the same. Meantime, short term indica-tors also suggest the further up move potential in the counter.

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