Silver yesterday jumped above 25000 marks again as metal retest the resistance in volatile session with currency market, A gloomy view of U.S. economy after mixed economic data, prompted investors to buy metal to hedge against risk. Silver opened at 25026 and lost ground during the early morning, slipping to an intraday low of 24600. However the metal turned bid and climbed on the back of rallying oil, base metals and equity markets, peaking at 25340 almost up by Rs.740/- from the day's low. The metal could not sustain its highs as good selling entered the market and it retreated as the session unwound, closing at 25112. now technically market is trading in the range as RSI for 18days is currently indicating 43.85, where as 50DMA is at 26481.3 and silver is trading below the same and getting support at 24695 and below could see a test of 24277 level, And resistance is now likely to be seen at 25435, a move above could see prices testing 25757.

Trading Ideas:

Silver trading range is 24734-25072.

A gloomy view of U.S. economy after mixed economic data, prompted investors to buy metal to hedge against risk

Silver yesterday jumped above 25000 marks again as metal retest the resistance rally with base metal & crude.

Silver on mcx look to take support at 24740 and resistance will be likely to get at 25380 levels.

SELL SILVER MAR BELOW 25000 SL 25120 TGT 24932-24860-24775-24682.MCX

SILVER $ FIX IS AT : 0 & CURRENTLY SILVER $ IS TRADING AT : 15.85 & UP BY 0.06%