Sure Shot Silver Tips

Select momentum oscillators like the 14-day RSI and the weekly Stochastic Slow are in favour of the bulls for the Silver. Hence, a sharp pull-back from the near support level of Rs 61,800-odd levels cannot be ruled out.

In case, Silver breaks below Rs 61,800, then a fall to Rs 60,800-level may be possible.

On the upside, in case, Silver is able to sustain above Rs 61,800 - a counter rally to Rs 63,800-odd level is also possible.

Today, Silver MCX March futures may seek support around Rs 61,900-61,770-61,635, and on the upside Silver is likely to face resistance Rs 62,750-62,880-63,000.

The corresponding key levels for Silver Micro February futures are as follows - support around Rs 61,920-61,790-61,650, while resistance around Rs 62,760-62,890-63,020.