SILVER outlook(long term)...

international silver prices nearing 20 year bull run since making low in the year 1992. the lifetime high of 48.70 was made in the year 1980 after which bear mkt continued till 1992.

current upward movement may terminate near 49 in such case lvl of 28 may not hold on downside.

but if a bullish break out closing on monthly occurs above 49-50, then the upward tgt becomes 61/66/77(in INR near 90000 or above) with a probable correction toward 30.

mkt ahead...nifty 18th apr 2011...

nifty saw profit booking from mentioned lvl of 5950. currently rangebound between 5735-5950. play accordingly. continue short if breaks and closes below 5735 with proper sl.

resistance to near term upmove is 5900 and stronger one at 5950. above the zone 5900-5950 only it may become freshly bullish for medium term as given earlier.