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Mcx bullion market has the negative end starting today.silver has the trading range between 56,700-56,800.The targets for silver would be 57,250 and beyond that Rs 57,550 and has stop loss of 56,500.NCDEX UPADTES:-Pepper Apr ncdex: As we earlier suggested, short covering rally already ceased yesterday and prices now holds the crucial support of 37900. Break off of the same with considerable volume could continue the fall towards 37600 followed by 37300/36800 levels for the day. Only a trade above 41000 could see a reversal of the bearish trend in the near term.Pepper has support at 37600 to 36800 and resistance at 38700 to 39220 and pivot level at 37900-41000.
KAPAS April ncdex:-If prices are able to break the support of 824, then expect to see a fall towards 815 followed by 800 levels in the near term.Kapas APR ncdex support at 810 817 824 pivot point at 831 and have resistance at 838 845 852.
Soybean Apr ncdex:-Any break of 3050, a profit booking may be seen towards 3010 followed by 2980 levels.Soyabean APR ncdex support at 2989 3025 3051 pivot point at 3087 and have resistance at 3113 3149 3175.
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