MCX Silver is showing a mild bullish trend with key support at 1,16,000 and resistance near 1,20,681. Read detailed technical analysis, pivots, and trading insights.
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Silver Prices Today: What’s Driving the Market?
Silver has been moving with support from bullion and industrial metals buying. In the Indian market, many traders are actively tracking silver as it reacts to global cues and domestic demand. Just like we say in India – “Jaha sona chandi, waha investors ki nazar zaroor hoti hai” (Where there’s gold and silver, investors always keep an eye).
Currently, the short-term price regime is bullish, but with mild strength. The overall trend score stands at 1 (Mild Bullish), which means the upside is there but not very strong.
Key Technical Levels for MCX Silver
According to the data, silver doesn’t show any strong technical pattern right now. However, traders should keep an eye on critical levels for pattern continuation:
- Upside level: ₹1,18,000
- Downside level: ₹1,16,000
If silver sustains above 1,18,000, we may see further upward momentum. On the flip side, if it breaks below 1,16,000, selling pressure can drag prices lower.
Support and Resistance Levels
- Supports: ₹1,16,955 | ₹1,16,585 | ₹1,16,000
- Resistances: ₹1,19,218 | ₹1,19,791 | ₹1,20,681
- Pivot: ₹1,18,328
This clearly shows that silver is trading in a narrow range. For intraday traders, these levels act like a Lakshman Rekha – breaking them decides the next move.
Options and Market Sentiment
One interesting point is that in Comex options, the put premium has increased more than the call, which suggests that traders are expecting some downside protection. Still, daily momentum indicators (Stochastics) remain bullish both in MCX and Comex.
So, in simple words – silver is bullish but not strongly confident, like a cricket team leading with a small margin.
Silver Trading Outlook for Indian Traders
If you’re trading silver in MCX, the best strategy is to follow support and resistance levels closely. Keep your stop-loss tight around 1,16,000 in case of downside risk.
For investors, silver still looks attractive because of its dual nature – both bullion and industrial metal demand. As India is one of the largest consumers of silver (used in jewelry, electronics, and even puja items), long-term demand remains strong.
👉 You can also check live global silver prices and updates on Trading Economics and MCX India.
Final Words
The MCX Silver short-term trend is mild bullish, but traders should not go overboard. Think of it like driving on Indian highways – speed is there, but brakes should be ready.
FAQs For MCX Silver Price Outlook
Q1: Is MCX Silver bullish or bearish right now?
Ans: Currently, MCX Silver is mild bullish with trend score 1.
Q2: What is the key support level for silver?
Ans: Major support is at ₹1,16,000.
Q3: What is the resistance level for silver in short term?
Ans: Resistance is near ₹1,20,681.
Q4: Should I buy or sell silver now?
Ans: If you’re a trader, buy above ₹1,18,000 and sell below ₹1,16,000 with stop-loss. For investors, silver still remains attractive for long-term holdings.