Buy Gold Above 51400 SL Below 51200 TGT 51650/51800 - Axis Securities
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Gold
MCX Gold opened with an upward gap and remained in positive terrain throughout the day. Gold is trading above 9,21&60 hourly SMA'sindicating positive bias in the intraday. The hourly strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating bullishness in the prices.
BUY GOLD ABOVE 51400 SL BELOW 51200 TGT 51650/51800
Crude Oil
MCX Crudeoil opened on a positive note and extended buying momentum in the first half. The chart pattern suggests that if Crudeoil crosses and sustains above 8600 level it would witness buying which would lead the It towards 8800-5900 levels. Important Support for the day is around 8400 levels.
BUY CRUDEOIL ABOVE 8600 SL BELOW 8450 TGT 8800/8900
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