Sell Zinc Below 266 SL ABOVE 268 TGT 263.50/262 - Axis Securities
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GOLD
MCX Gold opened sharply lower with a downward gap and selling pressure throughout the session dragged it to trade at lower. The chart pattern suggests that if Gold breaks and sustains below 50200 level it would witness selling which would drag It towards 49900-49700 levels. Important resistance for the day is placed at 51000.
SELL GOLD BELOW 50200 SL ABOVE 50400 TGT 49900/49700
ZINC
MCX Zinc opened on a flat note and witnessed selling for the first part of the session. The price is moving in a Lower Top and Lower Bottom formation on the daily chart indicating negative bias. Zinc continues to remain in a downtrend in the short to medium term, so selling on rallies continues to be our preferred strategy.
SELL ZINC BELOW 266 SL ABOVE 268 TGT 263.50/262
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