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Sensex: 33469.3 +219.00 Gold: Rs.28472.00
Nifty: 10316.8 +51.10 Silver: Rs.38076.00
Sell MCX Silver Mar: Immediate resistances are placed around 37850 and 38250 levels - IndiaNotes.com
Sell MCX Silver Mar: Immediate resistances are placed around 37850 and 38250 levels
Way2wealth | Published: 07 Dec, 2017  | Source : IndiaNotes.com

MCX SILVER MAR: Silver prices have been correcting gradually since last three months and prices fell sharply in the previous seven sessions after breaking down from its double bottom support placed around 38700 level. Prices are expected to continue this fall and correct further towards immediate strong support placed around its previous swing low of 36935. On the higher side immediate resistances are placed around 37850 and 38250 levels. Action: Sell


NCDEX SOYBEAN JAN: Soybean prices rose strongly in the last session after taking strong support at its short term rising trend line in the previous session. Prices are expected to continue this rally towards next strong resistance placed around 78.6% Fibonacci retracement of its fall from high of 3327 till low of 2804, which is placed at 3215 level. On the lower side immediate supports are placed around 3140 and 3100 levels. Buying in minor pullbacks is recommended in soybean for the day. Action: Buy


NCDEX TURMERIC APR: Turmeric prices have recovered strongly in the last session after taking strong support at its previous declining trend line breakout level. Prices are expected to hold this support and rise towards immediate resistances placed around 7610 and 7740 levels. On the lower side immediate supports are placed around 7360 and 7260 levels. Buying in minor pullbacks is recommended for the day. Action: Buy


NCDEX KAPAS APR:
Kapas prices have been rising strongly since last one month after breaking out from its short term declining trend line resistance. Prices have taken strong support at its short term rising trend line and are expected to rise further from these levels towards next strong resistance placed around 78.6% Fibonacci retracement of its fall from high of 1009 till low of 847, which is placed around 974.30 level. Action: Buy

 

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.