Sell Zinc Around 291.5 SL Above 293 TGT 290/288 - Axis Securities
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SILVER
Silver prices gave a gap up opening and remined in positive territory in the afternoon session. On hourly chart prices is trading above 9 and 20 days EMA and RSI is also above 60 level which indicate the momemtum is strong for prices. We expect prices to traded in positive terrain as long as 53000 level is intact on hourly closing basis. Traders can buy Silver around 53300 for the target of 53600 on intraday basis.
BUY SILVER AROUND 53300 SL BELOW 53000 TGT 53600/53900
ZINC
Zinc price is in a strong downtrend from last few days after it broke the support zone of 300 level and it touched 285 level level. Near term tend is negative for prices as it is trading below 60 days EMA on houlry chart and momentum indicator is below 60 level mark which indicate negative bias for prices. As long as it is trading below 293 level we expect prices to remian under selling pressure
SELL ZINC AROUND 291.5 SL ABOVE 293 TGT 290/288
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