Buy MCX Silver; target Rs 42200: Fortune Financial
Fortune Financial Services has come out with its fundamental updates on bullion. According to the research firm one can buy MCX Silver at Rs 40400-40000 with a stop loss below Rs 39700 for target price of Rs 42200.
July 01, 2013 / 11:28 IST
Fortune Financial Services' report on bullion -
Silver have covered nicely from current down fall and now looking positive on chart as immediate target is seen around Rs 41386-42206 & Rs 43027.Traders can consider buying on dips around Rs 40400-4000 range . Major support remains near Rs 38700-recent low- and after that Rs 38000 and Rs 37400. Market will turn bullish for long term if hold and trade above Rs 43100 while it's still negative for short term and have chances to trade lower if holds below Rs 38700 till Rs 37000 range. We are advising client to buy only for short covering rally.Recommendation - Buy at Rs 40400-40000 with a SL below Rs 39700 for target of Rs 42200.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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