Buy Gold Above 50500 SL Below 50300 TGT 50750/51000 - Axis Securities
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Gold
MCX Gold opened with a downward gap but witnessed buying from the opening tick. The hourly strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. Gold is trading above 20,50&100 hourly SMA's indicating positive signs in intraday.
BUY GOLD ABOVE 50500 SL BELOW 50300 TGT 50750/51000
Silver
MCX Silver opened sharply lower with a downward gap however buying support at lower levels recovered some of the earlier losses. The chart pattern suggests that if Silver crosses and sustains above 60800 level it would witness buying which would push It towards 61600- 62200 levels. Important support for the day around 60100.
BUY SILVER IN THE RANGE OF 60790-60690 SL BELOW 60100 TGT 61600/62200
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