Silver updates

Silver is currently trading in oversold conditions, the lower end of the Bollinger Band indicates support for Silver around Rs 61,200-odd levels.

On Monday, Silver bounced back after touching a low of Rs 61,043. One can look to buy Silver with a stop around Rs 61,000-odd levels. However, in case, Silver breaks below Rs 61,000, it can drop to Rs 60,000-odd levels.

On the upside, a pull-back rally can see Silver jump to Rs 62,800-odd levels.

As per the daily Fibonacci charts, Silver MCX December futures today may seek support around Rs 61,250-61,125-61,000, and on the upside Silver is likely to face resistance Rs 61,700-61,850-62,100.

The corresponding key levels for Silver Micro November futures are as follows - support around Rs 61,200-61,130-61,030, while resistance around Rs 61,750-61,850-61,950.