Buy Silver Around 57000 SL BELOW 56500 TGT 57500/58500 - Axis Securities
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Gold
Gold opened with an upward gap and remained in positive terrain throughout the day. Gold closed at 51443 with a gain of 651 points. The daily strength indicator RSI is moving upwards and is above its reference line indicating positive bias. On the daily chart It has formed a large bullish candle and has closed above its previous session's high indicating positive bias. On hourly chart Gold is trading above 20 and 60 day EMA's indicating positive bias in the short term. Gold continues to remain in an uptrend for the short term, so buy on dips continues to be our preferred strategy
BUY GOLD AROUND 51100 SL BELOW 51000 TGT 51300/51400
Silver
Silver opened with an upward gap and remained in positive terrain throughout the day. Silver closed at 57619 with a gain of 2775 points. The daily strength indicator RSI is moving upwards and is above its reference line indicating positive bias. On the daily chart It has formed a large bullish candle and has closed above its previous session's high indicating positive bias. On hourly chart Silver is trading above 20 and 60 day EMA's indicating positive bias in the short term. Silver continues to remain in an uptrend for the short term, so buy on dips continues to be our preferred strategy
BUY SILVER AROUND 57000 SL BELOW 56500 TGT 57500/58500
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