On the back of weak global cues, a sharp decline has been seen today in all commodities. Silver prices has suffered more than 8% loss and still not looking in a mood of recovery till 56500 but this oversold position may also invite some short recovery rallies towards 57500-58000 level which may extend till 60000 even. But below 56500 Silver may further fall down to 55800 level.
One can go for Short in Silver around 57000-56900 TG-56500 SL- 57300. Above 57550 Go for Buy.