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Silver Trading outlook 08.01.2015

MCX Silver March contract 152 rs down to settle at 37762. Silver traded in narrow range and remained within the trading range of previous session. Today support is around 37200 and then 37000 if move below that level more weakness possible and then we will see 36500-36400. 

Silver trading range for the day is expected among the key support at 37000 and resistance at 37930.

Recommendation:

·         Today buying silver above 37930 with stop loss below 37600 for targeting 38300-38700 and more upside might be appropriate.

·         Selling below 37000 with stop loss above 37300 for targeting 36700-36300-35900 and more down side might be appropriate. 

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