MCX Silver to be volatile

India's MCX silver prices are expected to trade in a volatile range for the intraday session. In the evening session, ADP Employment data may be positive for silver prices. On the other hand continuing appreciation in Indian Rupee may exert pressure on the upside.

Silver prices are expected to trade in the aforesaid range and a break out to any of the side would give the clear direction for coming session.

Intraday traders advised to take a long position around 62500 with very strict stop loss of Rs 62200 for target near Rs 62800 and 63100, he added.

Meanwhile, MCX copper is looking sideways to bearish for the intraday session. On daily charts, strong resistance is expected at Rs 442 and support at Rs 437 for the November contract.

“Intraday traders advised to take a short position in copper around 440 with stop loss of Rs 442 for target near Rs 437 and 435.” Ankush concluded. Via

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