Silver MCX: SELL
Entry price: 57860 - 58450
Stoploss : 58620
Targets: 57400 / 56680
Time period: Intraday only
I have initiated a positional buy on SilverMCX for a time period of 3 months on 21st January. The entry price range mentioned is 54200 - 55200 for the targets of 57200 / 59900 / 62300 with a stoploss of 52300.
On Wednesday, Silver MCX made a low of 54671 and traded near 55000 through out the day.
Now, today our 1st target would be achieved. The recommendation for day is to sell Silver MCX.
Please note that the positional view is bullish only. The recommendation is for the intraday trade only.
Silver US spot is trading at $33.36.
At $33.72 - 33.89, the selling pressure would be seen in the metal.
The 4 hrs chart suggest the slowing down of the pace for the day.
The trend on MCX seems also positive.
But, a resistance is placed in the range of 57900 - 58400.
The recommendation for the day is to sell silver only in the range of 57860 - 58450.
It is more unlikely to cross 58500 today. But, still the stoploss of 58620 has to be kept.
The targets for the day are 57400 and 56680.
Entry price: 57860 - 58450
Stoploss : 58620
Targets: 57400 / 56680
Time period: Intraday only
I have initiated a positional buy on SilverMCX for a time period of 3 months on 21st January. The entry price range mentioned is 54200 - 55200 for the targets of 57200 / 59900 / 62300 with a stoploss of 52300.
On Wednesday, Silver MCX made a low of 54671 and traded near 55000 through out the day.
Now, today our 1st target would be achieved. The recommendation for day is to sell Silver MCX.
Please note that the positional view is bullish only. The recommendation is for the intraday trade only.
At $33.72 - 33.89, the selling pressure would be seen in the metal.
The 4 hrs chart suggest the slowing down of the pace for the day.
The trend on MCX seems also positive.
But, a resistance is placed in the range of 57900 - 58400.
The recommendation for the day is to sell silver only in the range of 57860 - 58450.
It is more unlikely to cross 58500 today. But, still the stoploss of 58620 has to be kept.
The targets for the day are 57400 and 56680.
Sheetalpuri Goswami
+919879028295
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