As per daily silver is facing resistance at 50% fib retracement
on previous bearish swing and its 60 days SMA around 35.32. Bearish cross over
on MACD near zero line also suggesting some bearish environment. Silver having
a psychological support at 33 breach of this level would signal a decline till
30.50 and 28 in coming days. Silver moving in a rising wedge on daily chart and
33 is support of this rising wedge. Rising wedge are always works as
continuation pattern during down trend. These all ways are suggesting that this
counter will remain in control of bears in coming days but we need a
confirmation below 33 on daily closing basis. 35.40 will remain strong resistance
for this view for targeting around 30.50-28.50 and 26.70 in coming days.
LIC HOUSING FINANCE settled at 321.90 up by 5.78% on Tuesday. Stock had been staying in a consolidation phase that took shape of an ascending triangle and in today’s session it broke through the resistance line of this triangle consolidation and settled well above key resistance of 312 suggesting dominance of bulls. Stock has been staying above its 9 days SMA on daily chart keeping a short-term bullish trend in picture. Stochastic is now approaching overbought territory along with bullish cross above its signal line suggesting a strong bullish momentum. MACD has been staying in positive territory and now its parting upward from its signal line suggesting development of fresh bullish momentum. Direction and momentum are two important components for any chart to anticipate future price movement and current trend and momentum on chart provided above is suggesting bullishness. Breakout of triangle pattern can be used to determine potential destination for current move and if th...

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