For MCX Silver March Contract the daily price chart suggest that prices is taking resistance on the 20 DMA. Immediate support is at 56000 levels. If we get a close below 56000 we expect prices to go up to levels of 55000. The daily MACD is also in the sell mode. We recommend a sell below 56000 levels with a stop loss placed above 56800 levels for a target of 55000.
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