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MTECHTIPS;-Silver
Silver futures is also trading in a negative zone as India’s rupee gained against US dollar.
MCX silver futures for March delivery was down by 0.10 percent at Rs.59372 per kg as of 12.24 AM IST on Tuesday.I think, for intra-day, silver March futures look sideways and expected range for silver futures for the day is 59100-59800.Best strategy for intra-day traders is to buy on dips until it trades above 59100.I advice intra-day traders to buy silver March futures around 59300 level with strict stop loss of 59100 and wait for the target near 59600 & 59800.If silver March futures sustain above 59800, then it may move further up and may touch 60200-60500 level in coming sessions.Industrial recovery in major growing economies is expected to help drive silver futures in near future.
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