Buy Gold Above 50700 Sl Below 50500 Tgt 51000/51300 - Axis Securities
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Gold
MCX Gold opened on a flat note and buying momentum throughout the session. The hourly strength indicator RSI is moving upwards and is above its reference line indicating positive bias. On the hourly chart Gold is trading above 20 and 60 hourly EMA's indicating positive bias in the intraday.
BUY GOLD ABOVE 50700 SL BELOW 50500 TGT 51000/51300
Silver
MCX Silver opened with an upward gap and remainedn positive terrain throughout the day. The chart pattern suggests that if Silver crosses and sustains above 54500 level it would witness buying which would push the price towards 55300-56000 levels. Important support for the day is around 54000.
BUY SILVER ABOVE 54500 SL BELOW 54000 TGT 55300/56000
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