MTECHTIPS MCX SILVER INTRADAY trading tips 24-11-2016
MTECHTIPS MCX Silver is bearish for medium-long term .Currently Silver is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The oscillator is showing SELL signal For short term Silver is in SELL position.Positionally Immediate support for Silver is 39809.Resistance for the Silver is 41463-42125-42376-43278-44034-44848-
Short term and Intraday Level of SILVER
Currently Silver is in HOLD SHORT position The Silver is in downtrend For short term buy only if close above 40920.0 Selling pressure seems to be deceasing so Short term investor with risk aptitude can enter again if it close above 41093.0 but caution- close Below low5 fresh selling can occur The Silver is now trading is approaching oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 41113.9 with a stop at 40192.5 Below 39940.1 go for sell.