Silver yesterday as per expectation ended positive in a thin trading. Silver looks to trade more firm as some buying can be seen at this level. Rising investor demand and a recovery in industrial demand during 2009 were key factors in a strong recovery for silver prices last year, according to World Silver Survey 2010. Now technically market is trading in the range as RSI for 18days is currently indicating 58.71, where as 50DMA is at 28295.04 and silver is trading above the same and getting support at 29162 and below could see a test of 29031 level, And resistance is now likely to be seen at 29371, a move above could see prices testing 29449. Spread between Silver JUL & SEP contacts yesterday ended at 93. Spread yesterday traded in the range of 53 - 93.

Trading Ideas:

Silver trading range is 29031-29449.

Silver yesterday as per expectation ended positive getting slight support from crude prices

Silver is taking resistance at 29420 and support is at 29160.

In spot silver looks ro rake support at 18.38$ and resistance at 18.72$

BUY SILVER JULY ABV 29315 SL 29180 TGT 29375-29440-29522.MCX