Buy Gold Above 50750 SLl Below 50550 Tgt 51000/51200 - 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. Gold continues to remain in an uptrend for the short term, so buying on dips continues to be our preferred strategy.
BUY GOLD ABOVE 50750 SL BELOW 50550 TGT 51000/51200
Natural Gas
MCX Naturalgas opened with an upward gap and remained in positive terrain throughout the day. The chart pattern suggests that if Naturalgas crosses and sustains above 645 level it would witness buying which would push the price towards 673-690
levels. Important support stands at 620.
BUY NATURALGAS IN THE RANGE OF 645-644 SL BELOW 620 TGT 673/690
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