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Gold

MCX Gold opened on a flat note and remained in a Small range throughout the day. The chart pattern suggests that if Gold breaks and sustains below 49950 level it would witness selling which would drag the price towards 49700-49600 levels. Important resistance for the day is placed at 50300.

SELL GOLD BELOW 49950 SL ABOVE 50150 TGT 49700/49600

Naturalgas

MCX Naturalgas opened with an upward gap and remained in positive terrain throughout the day. The daily strength indicator RSI has turned positive from the oversold territory 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 NATURAL GAS ABOVE 671 SL BELOW 660 TGT 685/692

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