Thursday, 28 March 2013

Technical Updates

MCX Silver May : Buy around 53900 levels with a stop loss placed below 53500 levels for targets of 54500 levels.

Silver prices are expected to trade within a range from Rs 53500 to Rs 54300

Silver prices are expected to trade within a range from Rs 53500 to Rs 54300, one can expect a bounce till Rs 54300. prices are expected to trade weak.

Wednesday, 27 March 2013

Trend updated for-Mar/28/2013.CMP-54062 Overall trend of the Silver is bearish for medium-long term .Currently Silver is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend .. The oscillator is showing SELL signal For short term Silver is in SELL position.Positionally Immediate support for Silver is 53037.Resistance for the Silver is 54542-54558-54620-55744-56790-57823-

Currently Silver is in SELL position The Silver is in downtrend For short term buy only if close above 54255.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 54727.9 with a stop at 53676.1 Below 53398.3 go for sell and put stop at 54449

Intraday Resistance of SILVER are 54560.7/54974.7/54285.3/54401.9
Intraday Support of SILVER are 53563.3/53149.3/53357.3/53241.9

Monday, 25 March 2013

Silver trend 26/03/2013

Trend updated for-Mar/26/2013.CMP-54212 Overall trend of the Silver is bearish for medium-long term .Currently Silver is in strong downtrend with good momentum and the trend is supported with good volume 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 53400.Resistance for the Silver is 54574-54576-54724-55903-56892-58009-

Currently Silver is in HOLD SHORT position Silver has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below53546.5 Buy if above 55100.0 The oscillator is showing SELL signal

Intraday Trend- Buy is advised above 54879.8 with a stop at 53825 Below 53546.5 go for sell
Intraday Resistance of SILVER are 54613.1/54946.1/54521.3/54638.1
Intraday Support of SILVER are 53810.9/53477.9/53591.3/53475.7

MCX Silver (April): Sell- Rs 54500-54700, stoploss- Rs 55000, target- Rs 53800.

MCX Silver (April): Sell- Rs 54500-54700, stoploss- Rs 55000, target- Rs 53800.

SILVER prices on MCX declined. At 10:49 hrs MCX SILVER May contract was trading at Rs 53970 down Rs 242, or 0.45%. The SILVER rate touched an intraday high of Rs 54210 and an intraday low of Rs 53967. So far 2511 contracts have been traded. SILVER prices have moved down Rs 11531, or 17.60% in the May series so far.
At 10:49 hrs MCX SILVER July contract was trading at Rs 55145 down Rs 235, or 0.42%. The SILVER rate touched an intraday high of Rs 55287 and an intraday low of Rs 55140. So far 164 contracts have been traded. SILVER prices have moved down Rs 9865, or 15.17% in the July series so far.

At 10:46 hrs MCX SILVER September contract was trading at Rs 56353 down Rs 256, or 0.45%. The SILVER rate touched an intraday high of Rs 56468 and an intraday low of Rs 56353. So far 25 contracts have been traded. SILVER prices have moved down Rs 966, or 1.69% in the September series so far.

MCX silver

MCX silver continues to trade in a narrow band of 55500 to 53890 since couple of weeks now which is very much reflected by the Bollinger bands which have narrowed a lot. At present silver is trading near the downtrend line resistance failing to surpass it can get it back to the lower end of the channel i.e. 50500 levels, hence one needs to be quite cautious on long side from hereon. The sell signal will be triggered below 53890 levels only, hence till it is trading in a range the positional traders should avoid any positions, whereas the momentum traders can sell around higher end and buy around lower end. Above 55500 it will clearly provide a breakout on the upside which can then take prices till Rs 58360 to Rs 59000 levels

Saturday, 23 March 2013

Silver trend 25/03/2013

Trend updated for-Mar/25/2013.CMP-54125 Overall trend of the Silver is bearish for medium-long term .Currently Silver is in uptrend but volume is unsatisfactory The open interest is not increasing with trend .. The oscillator is showing SELL signal For short term Silver is in SELL position.Positionally Immediate support for Silver is 53676.Resistance for the Silver is 54519-54710-54808-56112-56983-58196-

Currently Silver is in HOLD LONG position Silver is moving sideways so short term investor better to buy only above 55100.0 or hold with stop at 53972.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 54566.2 with a stop at 53850.9 Below 53685.1 go for sell

Intraday Resistance of SILVER are 54403.7/54682.3/55144.9/54829.3/54946.5
Intraday Support of SILVER are 53846.3/53567.7/53105.1/53896.7/53780.7

Thursday, 21 March 2013

Silver trend 22/03/2013

Trend updated for-Mar/22/2013.CMP-55063 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing SELL signal but has moved past its recent high. The oscillator is showing SELL signal For short term Silver is in HOLD SHORT position.Positionally Support for the Silver is 54410-54321-54084-.Resistance for the Silver is 56222-57037-58290-

Currently Silver is in HOLD LONG position Silver has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 55511.9 with stop at 54057.0 The oscillator is showing BUY signal

Intraday Trend- Buy is advised only above 55511.9 with a stop at 54784.2 Below 54615.5 go for sell and put stop at 55342.5
Intraday Resistance of SILVER are 55590.9/56029/55240.1/55357.6
Intraday Support of SILVER are 54535.1/54097/54303.9/54187.5

Wednesday, 20 March 2013

Buy around 54200 with SL 53700, for the target of 54800 & 55300

MCX Silver May Contract is looking slightly positive for the day. Market may find support near 54200 & 53700; intraday resistance can be seen near 54800 & 55300. Day traders are advised to buy intraday on dips. (Buy around 54200 with SL 53700, for the target of 54800 & 55300.)

Buy silver

Silver news

Trend updated for-Mar/21/2013.CMP-54331 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing SELL signal .In last 1 month volatality is very less Buy the Silver above 55722 or buy with strict stop at 53373. The oscillator is showing SELL signal For short term Silver is in HOLD SHORT position.Positionally Support for the Silver is 54031-.Resistance for the Silver is 54736-54763-56310-57079-58362-

Currently Silver is in HOLD LONG position Silver is moving sideways so short term investor better to buy only above 54810.0 or hold with stop at 54057.0 The oscillator is showing BUY signal

Intraday Trend- Buy is advised above 54646.2 with a stop at 54119.5 Below 54016.6 go for sell
Intraday Resistance of SILVER are 54548.7/54729.4/54896.6/55013.8
Intraday Support of SILVER are 54113.3/53932.6/53963.4/53847.3

MCX SILVERM down 16% in June series so far

SILVERM prices on MCX were trading lower. At 11:03 hrs MCX SILVERM April contract was trading at Rs 54626 down Rs 109, or 0.20%. The SILVERM rate touched an intraday high of Rs 54699 and an intraday low of Rs 54585. So far 3771 contracts have been traded. SILVERM prices have moved down Rs 9453, or 14.75% in the April series so far.

At 11:03 hrs MCX SILVERM June contract was trading at Rs 55894 down Rs 112, or 0.20%. The SILVERM rate touched an intraday high of Rs 55965 and an intraday low of Rs 55854. So far 271 contracts have been traded. SILVERM prices have moved down Rs 10391, or 15.68% in the June series so far.

At 10:52 hrs MCX SILVERM August contract was trading at Rs 57050 down Rs 142, or 0.25%. The SILVERM rate touched an intraday high of Rs 57140 and an intraday low of Rs 57050. So far 5 contracts have been traded. SILVERM prices have moved down Rs 112, or 0.20% in the August series so far.

Tuesday, 19 March 2013

Silver trend 20/03/2013

Trend updated for-Mar/20/2013.CMP-54707 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing SELL signal .In last 1 month volatality is very less Buy the Silver above 55722 or buy with strict stop at 53373. The oscillator is showing SELL signal For short term Silver is in HOLD SHORT position.Positionally Support for the Silver is 54353-54296-54064-.Resistance for the Silver is 56412-57121-58439

Currently Silver is in HOLD LONG position Silver is in sideways and sellers was at high so for short term better buy above 55158.7 or hold with stop at 54057.0 The next resistance will be at 54810.0 The oscillator is showing BUY signal

Intraday Trend- Buy is advised only above 55158.7 with a stop at 54427.1 Below 54256.7 go for sell and put stop at 54987.6
Intraday Resistance of SILVER are 55042.9/55321.7/55040.9/55158.2
Intraday Support of SILVER are 54371.1/54092.3/54106.5/53990.2

Monday, 18 March 2013

Silver news 19/03/2013

Trend updated for-Mar/19/2013.CMP-54321 Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing BUY signal .In last 1 month volatality is very less Buy the Silver above 55722 or buy with strict stop at 52411. The oscillator is showing BUY signal For short term Silver is in HOLD SHORT position.Positionally Immediate support for Silver is 52411.Resistance for the Silver is 54559-54666-54783-56506-57186-58507-

Currently Silver is in SELL position The Silver is in downtrend For short term buy only if close above 54429.0 The Silver is now trading is approaching oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised only above 54769.5 with a stop at 54043.1 Below 53873.9 go for sell and put stop at 54599.6
Intraday Resistance of SILVER are 54594.5/54821.4/54778.1/54895.2
Intraday Support of SILVER are 54047.5/53820.6/53845.9/53729.9

Gold slightly higher on safe-haven buying

Gold futures are trading modestly higher in the early part of Tuesday’s Asian session as traders continue embracing the yellow metal’s status as a safe-haven investment.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery are up 0.01% at USD1,604.80 per troy ounce in Asian trading Tuesday after settling up 0.81% at USD1,605.50 a troy ounce in U.S. trading on Monday.

Gold futures were likely to test support USD1,590.80 a troy ounce, the earlier low, and resistance at USD1,619.40, the high from Feb. 26.

Traders scampered into gold Monday amid one slack U.S. data point and news that Cyprus, the tiny euro zone nation of just 1 million people, is flirting with bankruptcy and possible departure from the common currency program.

In U.S. economic news, the National Association of Homebuilders said its March Housing Market Index fell to 44 from 46 in February in what is the lowest reading since October. Analysts expected a March reading of 48.

The one-time tax taking aim at Cypriot bank deposit holders as part of a EUR10 billion bailout deal sent the euro falling amid fears unease may grow since smaller depositors will be affected, which sparked a rally in gold markets.

The bank deposit levy was approved last week by the 16 other euro zone members and the International Monetary Fund, but on Sunday Cyprus delayed a vote on the measure. The plan has rankled non-euro zone members, including Russia. Cyprus is home to large Russian bank deposits.

Elsewhere, Comex silver for May delivery added 0.19% to USD28.928 per ounce while copper for May delivery advanced 0.41% to USD3.427 per ounce.

Sell MCX Silver May fut near Rs 54750-54830: Way2Wealth

Way2Wealth has come out with its report on Silver. According to the research firm, one can sell MCX Silver May futures near Rs 54750-54830 for a target price of Rs 53340 with a stop loss of Rs 55275.

Last week MCX Silver May futures continued to stay in range, but by the end of the week a breakdown through the “running triangular” pattern on daily charts has confirmed that silver has resumed its bearish trend. Further risk is built on down side towards the near-term support of 53340 levels, on flip below the same can extend towards 52710 also.

Nevertheless, any rise on upside will be capped at 54750 levels and bring some selling pressure from the same. Key momentum indicator RSI has gone in selling mode and MACD is still trading below signal line by supporting the view.

Strategy: Sell MCX Silver may futures near Rs 54750-54830 for a target price of Rs 53340 with a stop loss of Rs 55275.(Money control)

TODAYS SILVER NEWS