Buy Gold Above 71800 SL BELOW 71500 TGT 72200/72500 - Axis Securities Ltd
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Gold
MCX Gold opened with an upward gap and remained lackluster within a narrow trading range throughout the day. The chart pattern suggests that if Gold crosses and sustains above 71800 level it would witness buying which would push the price towards 72200- 72500 levels. Important support for the day is around 71100.
BUY GOLD ABOVE 71800 SL BELOW 71500 TGT 72200/72500
Crudeoil
MCX Crudeoil opened sharply lower with a downward gap and selling pressure throughout the session. The chart pattern suggests that if Crudeoil breaks and sustains below 7070 level it would witness selling which would drag the price towards 6950-6900 levels. Important resistance for the day is placed at 7200.
SELL CRUDEOIL BELOW 7070 SL ABOVE 7120 TGT 6950/6900
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