DEC 22 MONDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 17360 , S2 RS 17020 , S3 RS 16880
R1 RS 17640 , R2 RS 17860 , R3 RS 18080
Silver slipped on Friday after slipping to a 2 month high
the previous day .
The dollar rose as much as 1.5 %against a weighted basket of
6 major currencies.The dollar was the major issue pushing
silver down on Friday.
The dollars uptrend is still intact .This could still attract
buying from investors.
Silver for March expiry under MCX India might see support at
Rs 17100 levels and resistence for the same may be seen at
Rs 17740 and 18080 levels .
Threat of a deflationary economy usually hurts silver
which is seen as a hedge against inflation.
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