MCX silver trend for today 23 august is considered to be consolidate as per silver charts. The day is going to be tough and interesting while deciphering an outlook for silver especially today when almost all manufacturing figures across the globe are coming in. So, we believe silver is likely to be entangled with various factors and looks like it may underperform gold. Therefore, looking at the above scenario we believe selling silver at higher levels and buying gold (ratio) strategy would be apt for the day.
Silver Technical Outlook >> Support and Resistance :-
Silver MCX Sep-12 :- S3-54901, S2- 55007,S1- 55150, R1-55484,R2- 55641,R3- 55739
Intraday Tips For Silver Today :-
Buy at 56300, Stop loss 55800, Target 56900.
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