What is the meaning of the term Silver? Silver is a precious metal with the atomic number 47. Its chemical symbol is Ag. It has a colour greyish shining. Silver has wide usage in ornamentals as well as it has industrial usage. Check live Silver price, chart and analysis below.
Silver Price Support And Resistance
Silver Futures Daily Candlestick Chart
The chart above the daily candles will update automatically with silver price movements. You need to refresh the page manually.
There is also a mini variation available with trading unit of 5 kg and micro version available with trading unit of 1 kg.
Zerodha has a margin requirement of approx Rs. 60000 for trading 1 lot of Silver contract. Silver mini requires a margin of around Rs. 8000 and Silver Micro needs around Rs. 1500.
Traders generally try to catch 200 points from Silver price movement. They can keep a stop loss of 100 points to maintain a good risk reward ratio. If a trader trades 5 days with 1 trade per day with a 60% accuracy and if he makes 200 x 3 = 600 points in 3 winning trades and if he loses 100 x 2 = 200 points in 2 losing trades still there is fair chance of making 400 points profit per week from Silver.
In the MCX market do not trade in the dull hours, good movement is seen after the market opening at 10AM and another price movement is seen after 6PM. Traders can trade the active hours fr quich profits. It is also better to avoid trading after 10PM because there is hardly any movement seen after that.
As a common trading strategy one can use open range break out or can use range breakout of 6PM – 7PM in the evening session.