SILVER FUTURES 20 November 2011

We have seen some big movement in Silver (mcx) last week. This was because USD was strengthening against rupee very sharply. Therefore, Silver shown 53755 level on 17 November 2011.

Considering the current scenario market may remain choppy for few days. It can also touch 56250 ithin few days.

Also 53745 is the major support downwards if it crosses this level the we may see 52768 then 51260.

For long term investors it is not right time to long Silver futures. 

SILVER FUTURES

After 28 October 2011, silver has shown the incredible movement which is a good news for traders and investors. Market was choppy during the whole month of October 2011, because on 22 September there was a huge fall of Rs. 10,000/- which was a history in the silver futures. Due to that market became bit choppy. 


The good news is that if silver crosses 58350 level then it may easily touch 61500-62500 in coming days or during 1st week of December 2011.  


On the other hand, the dollar is getting stronger and stronger. Any how considering the europe market and other markets, dollar may fall. Incase. dollar goes beyond 48.1000 then it can it can show free fall. 


I want to appeal to all of my readers that please take the hint of it while trading as it is for long term and not for intraday trading.


I will keep on updating my blog with which traders can take their right decisions very easily. Also very soon I will update few more metals and other commodities also.


Please stay updated with me, I will update my blog every weekends. Also, I will update intraday calls which may be helpful to you.