Buy Gold Around 54500 SL Below 54400 TGT 54600/54800 - Axis Securities
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Gold
Gold prices opened with a upward gap and traded volatile throughout the day. Prices on daily chart has given a breakout and it is sustaining above 54500 level. On daily chart momentum indicator RSI is trading above 60 level and price is trading above 20 and 60 days EM which is positive for prices.it has formed a doji candle indicating sideways trend for prices.Any correction down till 54500 is a good opportunity to buy Gold for the target of 54600 on intraday basis.
BUY GOLD AROUND 54500 SL BELOW 54400 TGT 54600/54800
Silver
Silver prices opened with a upward gap and remained in positive terrain throughout the day. Prices on daily chart has given a breakout and it is sustaining above the mentioned level. Prices made a new multi month high of 69575 level. On daily chart momentum indicator RSI is trading above 60 level and price is trading above 20 and 60 days EM which is positive for prices. It has formed a bullish candle and has closed above previous session close which indicate trend is strong. Any correction down till 68600 is a good opportunity to buy Silver for the target of 69200 on intraday basis.
BUY SILVER AROUND 68600 SL BELOW 68200 TGT 69200/69600
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