Sell Gold Jun In The Range Of 46600-46630 SL ABOVE 46800 TGT 46370/46200 - Axis Securities
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GOLD
MCX Gold price failed to break it's strong resistance, price is expected to trade negatively. Sustaining below 46600 next leg of the correction would drag down the price lower towards 46370/46200 levels in intraday. The momentum indicator hourly RSI is trading at 52 and it is forming lower lows which is a negative sign for the prices.
SELL GOLD JUN IN THE RANGE OF 46600-46630 SL ABOVE 46800 TGT 46370/46200
NICKEL
MCX Nickel price is trading near a strong support level, price is expected 1278 to trade negatively. Sustaining below 1256 would drag down the price lower| towards 1243/1235 levels in intraday. The price has started trading below 9720 hourly EMA which is a negative sign for the prices.
SELL NICKEL IN THE RANGE OF 1256-1257 SL ABOVE 1266 TGT 1243/1236
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