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Gold

MCX Gold opened with a downward gap but witnessed buying in the second half of the session which pushed prices to day's high. The chart pattern suggests that if Gold crosses and sustains above 51500 level it would witness buying which would place the price towards 51800-52000 levels. Important support for the day is around 51200. 

BUY GOLD ABOVE 51500 SL BELOW 51300 TGT 51800/52000

Naturalgas

MCX NaturalGas opened with an upward gap and remained lackluster within a narrow trading range throughout the day. The hourly strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. NaturalGas is trading below its 60 & 100 which indicates a negative sign in the intraday.

SELL NATURALGAS BELOW 740 SL ABOVE 760 TGT 717/710

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