SUNDAY
WEEKLY UPDATE
Silver in international market was trading in the range between 16$ to 16.8$,
later being strong resistance level for medium term, but prices was not able
to gain momentum and dropped back to 16.6$, all eye was on NDA’s full budget
and the bullion association expectation was to have cut in import duty from 10%
to 6%, but no announcement was made regading this but instead they annouced about
monetize scheme, bond scheme and deposit scheme to curb smugling and foreign
dependance for bullions which will have a long term impact in market.
Weekly Call :
Sell Silver international on rises between 16.6$ to 16.8$
with stops above 17.2$
for targets 16$ and 15.5$.
