Buy Silver Above 69100 SL Below 68700 TGT 70000/70500 - Axis Securities
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GOLD
MCX Gold opened on a positive note and extended buying momentum in the first half. 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 IN THE RANGE OF 54600-54550 SL BELOW 54400 TGT 54900/55100
SILVER
MCX Silver opened with an upward gap and remained in positive terrain throughout the day. The chart pattern suggests that if Silver crosses and sustains above 69100 level it would witness buying which would push the price towards 70000-70500 levels. Important support for the day is around 68000.
BUY SILVER ABOVE 69100 SL BELOW 68700 TGT 70000/70500
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