Buy Gold Above 50900 SL Below 50800 TGT 51050/51200 - Axis Securities
Gold
Gold opened with an upward gap and remained in positive terrain throughout the day. Gold closed at 50866 with a gain of 682 points. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. On the daily chart It has formed a bullish candle and has closed above its previous session's high indicating positive bias. On hourly chart Gold is trading above 20 and 60 day EMA's indicating positive bias in the short term. Immediate resitance zone in Gold is seen around 50900 level. Breakout above the mentioned level may push prices higher towards 51050 on intraday basis.
BUY GOLD ABOVE 50900 SL BELOW 50800 TGT 51050/51200
Silver
Silver opened with an upward gap and remained in positive terrain throughout the day. Silver closed at 60538 with a gain of 2212 points. The daily strength indicator RSI is moving upwards and is above its reference line indicating positive bias. On the daily chart It has formed a bullish candle and has closed above its previous session's high indicating positive bias. On hourly chart Silver is trading above 20 and 60 day EMA's indicating positive bias in the short term.Silver continues to remain in an uptrend for the short term, so buy on dips continues to be our preferred strategy.
BUY SILVER AROUND 60000 SL BELOW 59600 TGT 60500/61000
To Read Complete Report & Disclaimer Click Here
For More Axis Securities Disclaimer https://simplehai.axisdirect.in/disclaimer-home
SEBI Registration number is INZ000161633
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
