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Gold

MCX Gold opened on a flat note and remained in a Small range throughout the day. The daily 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 52200 SL BELOW 52000 TGT 52450/52600

Copper

MCX Copper opened with a downward gap and traded with extreme volatility on either side and gained bullish momentum in the second half of the session. The chart pattern suggests that if Copper crosses and sustains above 656.70 level it would witness buying which would push the copper towards 662.50-670 levels. Important support for the day is around 652.

BUY COPPER IN THE RANGE OF 656.70-656.20 SL BELOW 652 TGT 662.50/670

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