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22-10-2024 12:58 PM | Source: Prabhudas Lilladher Pvt. Ltd
TECHNICAL VIEW - SilverBees by Vaishali Parekh, Prabhudas Lilladher

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Below the Quote on TECHNICAL VIEW - SilverBees by Vaishali Parekh,  Prabhudas Lilladher 

 

For SILVER bees, we had shared a technical view from the 84 level for an upside target of 120 and has reached 94, gaining almost 12% from our level. Now Silver has indicated a clear breakout above the sloping trend line zone at the 90 zone after the strong pullback witnessed recently and has strengthened the bias further. With major support positioned near the 85-86 zone and with near-term immediate support at 90 levels, one can expect a further rise with targets of 120 levels. SILVERBEES CMP-84 overall has been in a rising trend, maintaining a strong upward bias movement, and recently has witnessed a short correction from the 100 zone to take support near the 200 DMA level at the 76 zone and thereafter, witnessing a pullback to improve the bias. The RSI is currently well placed, has indicated a perfect trend reversal after the short period of correction to signal a buy, and has much upside potential to carry on with the positive move further ahead. We suggest buying silverbees now and in decline for an upside target of 120, keeping the stop loss of 70.

 

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