Silver yesterday reached to its all time high driven by a rally in global markets. In addition, increased demand in the spot markets for the ongoing festive and marriage season also supported the uptrend. Silver gained 193 rupees finishing at 34894 Rs per kg. The market has remained above our important 34500 level. A break of the high of 35000 would set the market sights on visiting the high of 35200-35350 levels. Now support for the silver is seen at 34653 and below could see a test of 34411. Resistance is now likely to be seen at 35058, a move above could see prices testing 35221.

Trading Ideas:

Silver trading range is 34411-35221.

Silver yesterday reached to its all time high driven by a rally in global markets

Silver is having resistance at 35058 and support at 34653 level.

In spot silver looks to have a support at 23.04$ and resistance at 23.40$ level