Buy Gold Above 52350 SL Below 52100 TGT 52650/52900 - Axis Securities
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Gold
MCX Gold opened on a flat note and buying momentum throughout the session ion let let it it cl close near the the day's day's high. 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 52350 SL BELOW 52100 TGT 52650/52900
Silver
MCX Silver opened on a flat note and witnessed extreme buying for the most part of the session. The chart pattern suggests that if Silver crosses and sustains above 59250 level it would witness buying which would lead the price towards 60000-60500 levels. Important support for the day is around 57000.
BUY SILVER ABOVE 59250 SL BELOW 58800 TGT 60000/60500
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