Buy Silver Around 60000 SL Below 59600 TGT 60500/61000 - Axis Securities
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SILVER
Silver opened with an upward gap and remained in positive terrain throughout the day. Silver closed at 60911 with a gain of 4053 points. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. On the daily chart It has formed a bullish candle and has closed above its previous session's high indicating positive bias. On hourly chart Silver is trading above its 60 day EMA which indicates 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 60000 SL BELOW 59600 TGT 60500/61000
GOLD
Gold opened with an upward gap and remained in positive terrain throughout the day. Gold closed at 51160 with a gain of 966 points. The daily strength indicator RSI has turned positive from the oversold territory and is above its reference line indicating positive bias. On the daily chart It has formed a 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 50800 SL BELOW 50700 TGT 50900/51100
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