MCX Silver
silver futures prices today moved down by 0.84 per cent to Rs 54461 per kg, as speculators created fresh positions. Silver is in a consolidate trading phase and may get a positive position today. In our technical reports of a firming trend in precious metals overseas have mainly influenced silver futures here. We think Silver had been stuck in a range of 53500-55500 and a break on either side could determine direction.
Broad trading range is seen inside 55350-54000 levels, either side breakout would be required to suggest fresh directional moves. Direct rise above 55350 will be an early signal of short covering rally towards 56100/57000. Buy is recommended by the experts
MCX Copper
Copper has been rose arround 1.23% on MCX in its last trading and closed at just below of 424 level. For Today Copper prices are expected to test 428-431 on higher end. Copper is looking best deal in commodity market. Prices are expected to hold the support at 418-416 zone. Buying on dips is recommended.
