Buy Gold Above 54800 SL Below 54600 TGT 55050/55200 - Axis Securities
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GOLD
MCX Gold opened on a flat note and witnessed extreme volatility on either side for most part of the session. The daily strength indicator RS] 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 54800 SL BELOW 54600 TGT 55050/55200
NATURALGAS
MCX Naturalgas opened sharply lower with a downward gap and selling pressure throughout the session. The chart pattern suggests that if Naturalgas breaks and sustains below 542 level it would witness selling which would drag the price towards 520-510 levels. Important resistances for the day is placed at 580.
SELL NATURALGAS BELOW 542 SL ABOVE 555 TGT 520/510
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