Silver yesterday traded in the tight range of 43900-43200 as there was mix sentimental prevailing in the market weakness continuous to create pressure with gold and crude whereas support from base metal holding the support at lower level. Silver opened at 43875 reaching its intraday high of 43880 shortly after and continuous to hold support as base metals and crude reversed earlier gains, silver traded lower to an intraday low of 43257 late in the session. A late day recovery in metals saw silver end the day at 43411. Under the above scenario the Gold Silver ratio should make another leg to the down side toward 46.00 from current 47.05. Now technically market is trading in the range as RSI for 18days is currently indicating 47.51, where as 50DMA is at 44146.46 and silver is trading below the same and getting support at 43152 and below could see a test of 42893 level, And resistance is now likely to be seen at 43775, a move above could see prices testing 44139.

Trading Ideas:

Silver trading range is 42893-44139.

Silver yesterday traded in tight range of 43900-43200 as there was mix sentimental prevailing in market

Silver looks to take support at 43180 level and resistance at 43620 level.

Holdings at ishares silver trust fell by 4.57 tonnes to 10400.60 tonnes

SELL SILVER MAR @ 43500-580 SL 43790 TGT 43380-43220-43080.MCX

 Silver $ FIX is at : 28.27 & CURRENTLY SILVER $ IS TRADING AT : 28.26 & DOWN BY -0.28%