Buy Gold Around 46300 SL Below 46200 TGT 46400/46500 - Axis Securities
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ALUMINIUM
Aluminium prices cracked by around 2 percent in last trading session after it broke the immediate support zone of 232 an drifted lower towards 226 level on intraday basis. Overall trend is looking negative for prices as it is trading below 9 and 20 days EMA and RSI is alos below 40 level. Any rallies towards 230.5 may be used as an selling opporutnity for the target of 229.5 on intraday basis.
SELL ALUMINIUM AROUND 230.5 SL ABOVE 231.5 TGT 229.5/228.5
GOLD
Gold prices ralllied higher in last trading session after prices broke the strong support zone of 46200 and rallied up till 46700 on intraday basis. On hourly chart prices is trading above 9 and 20 days EMA and RSI is also above 60 level indicating high momemtum in prices. Traders can buy Gold on dips around 46300 for the target of 46400 on intraday basis.
BUY GOLD AROUND 46300 SL BELOW 46200 TGT 46400/46500
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