Buy Gold Around 64500 SL 65300 TGT 64700/64900 - Axis Securities Ltd
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Gold
Gold prices extended the winning streak for four days in a row. Prices made a new 52 week high in the last session and settled around 64800 level by gaining more than 0.50 percent. Bulls are dominating the current rally backed by series of weak data from US boosting precious metals appeal. Technical parameters are in the favour of buyers. Traders can buy Gold on dips around 64500 for the target of 64700 on intraday basis.
BUY GOLD AROUND 64500 SL 65300 TGT 64700/64900
Crude oil
Crude oil prices closed slightly lower in the last session. Price settled around 6480 and was down by more than 0.70 percent. On the daily chart prices closed below 9 EMA and RSI is also below its reference line which indicate that momentum is weak for prices. Sell on rise is recommended in Crude oil as long as 6600 level is intact on the upside.
SELL CRUDE OIL AROUND 6480 SL ABOVE 6550 TGT 6400/6350
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