Buy Gold Above 61200 SL Below 61000 TGT 61500/61700 - Axis Securities Ltd
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Gold
MCX Gold opened on a flat note and buying momentum throughout the session let it trade near the day's high. The chart pattern suggests that if Gold crosses and sustains above 61200 level it would witness buying which would push the price - towards 6150000; 61700 levels. Important support for the day is around 60700.
BUY GOLD ABOVE 61200 SL BELOW 61000 TGT 61500/61700
Copper
MCX Copper opened with an upward gap and remained in positive terrain throughout the day. The hourly strength indicator RSI has turned positive from the oversold territory and is trading above its reference line indicating positive bias. Copper continues to remain intraday, so buying on dips continues to be our preferred strategy.
BUY COPPER ABOVE 705 SL BELOW 702 TGT 709/712
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