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NCDEX Dec Chana has lost its upside momentum. Weak close followed by a “spinning top” candlestick pattern on daily charts renders that temporary top has formed at 3260 levels. Now the bias remains neutral, on convincing break below 3203 levels will intact further weakness towards 3160 & 3126 levels.
MCX Dec Silver futures have been continued to trade in a narrow range 34250 to 35206 since last couple of days. Further outlook remains sideways and a convincing breakout of either side will give further direction in the counter. However, as the short term trend remains weak, on can create fresh shorts on at higher level of 35100. www.marketmagnify.com Ph: 0731-6619100