Thursday, 4 April 2013
Commodity Call: Silver may retest Rs 50,500
The white metal is likely to witness some selling pressure, and could even re-test Rs 50,500-odd levels in trades today.
On the upside, Silver needs to break and sustain above Rs 51,200, in order to arrest the current bear phase.
Today Silver MCX May futures may seek support around Rs 50,750-50,700-50,630, while face resistance around Rs 51,150-51,215-51,280.
MCX Silver Micro April futures may seek support around Rs 50,765-50,700-50,630, while face resistance around Rs 51,200-51,275-51,350.