Silver had corrected to levels below Rs 56,500 per kg on Friday. However, it recovered close to Rs 57,000 per kg by end of trade.
On intraday basis, Ashish Shah of Sushil Global Commodities feels, Rs 57,200 is a very strong resistance. "We suggest traders to sell on rallies to Rs 57,200 per kg, with stop loss above Rs 57,450 per kg, for a target price of Rs 56,350 per kg on the lower side," he says.
Another good sell at this point is zinc, says Sumeet Bagadia of Destimoney Commodities, at Rs 106 with stop loss at Rs 107.50 and target of Rs 104 and Rs 102 in next 2-3 days. "We maintain our bearish view in base metals for next couple of days," he adds.
According to Kaushal Jaini, Dani Commodities, copper, in particular, looks very strong right now. "We expect copper to test Rs 438-440 levels very soon. So buy on dips at Rs 430 with stop loss at Rs 425 and target of Rs 437-440. That is a good buying opportunity in copper," he says.
