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Friday, 28 April 2017

Latest Commodity Updates - Expert View

Equity benchmarks continued to reel under selling pressure in noon trade, with the Sensex down more than 150 points as index heavyweights ITC, HDFC, HDFC Bank and L&T fell further to 1-2.5 percent. Overall it was a profit booking amid consolidation, before marching towards new psychological 9,400 level on the Nifty that is expected to hit next week if global cues remained stable.

The Sensex declined 156 points at 29,860.21 and the Nifty slipped 51 points to 9,288.25. In Commodity Market, Base metal prices to trade range bound for the day as markets were underwhelmed by the Trump administration's proposed tax cuts and as focus shifted to China manufacturing, where growth is expected to slow in April. 

Commodity Tips
Sell Silver May in the range of 39750-39700 Targets 39400/39100 Stop loss 40000. 

Expert view: Technically silver is selling on hourly/daily charts while MACD and RSI also indicate good selling opportunity in it.So, traders should go for sell on higher level strategy.