Buy Gold Above 60000 SL Below 59800 TGT 60300/60500 - Axis Securities
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Gold
MCX Gold opned with an upward gap and remained lackluster within a narrow treding range throughout the day.The chart pattern suggests that if Gold crosses and sustains above 60000 level it would witness buying which would push the price towards 60300-60500 levels.Important support for the day is around 59600.
BUY GOLD ABOVE 60000 SL BELOW 59800 TGT 60300/60500
Natural gas
MCX naturalgas opnes with an upward gap and remained in positive terrain throughout the day. The hourly strength indicator RSI is moving upwards and is above its reference line indicating positive bias.Naturalgas continues to remain in an uptrend for the short term,so buying on dips continues to be our preferred strategy.
Buy Naturalgas Above 219 SL Below 215 TGT 225/229
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