Silver July contract has Just Breached the nearest support line of 53700 now more downtrend is expected and silver can fall down to 52500-5200 levels if unable to sustain above 53700 levels. However A consistent trade above 53900 can lift Silver up towards 54500-54800 levels. Traders are advised to sell sivler below 53500 fro the targets of 53100-52700-52500 keeping a stoploss above 53900.
In MCX Gold August Futures likely to trade with negative bias for the day. The technical indicators are showing a slight downtrend in Gold futures for the day.
for intraday Trading one may go for sell in Gold Futures only below 22420 for the targets of 22380-350-300 Stoploss above 22500.