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Outlook, buying and selling methods for gold & silver

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By Ravindra Rao

Kotak Securities


MCX Gold

MCX gold value witnessed an inverse head and shoulder breakout indicating a bullish bias. Upside momentum might proceed for the targets of Rs 52,800 adopted by Rs 53,200 with helps round Rs 51,700 and Rs 51,450 (swing excessive turned as demand zone). Relative energy index (RSI) is above 60 suggesting the bulls are in management.

Strategy

  • BUY MCX Gold Dec at Rs 52,000; Target at Rs 52,800; Stop loss at Rs 51,700

MCX Silver

MCX silver value has given a channel breakout suggesting patrons energy. ATR enlargement signifies the upside resistance might prolong until Rs 66,600 ranges adopted by Rs 67,800, whereas the rapid assist is positioned at Rs 64,000. Relative energy index (RSI) is at 59.94 supporting bulls over bears.

Strategy

  • BUY MCX Silver Dec at Rs 65,000; Target at Rs 66,600; Stop loss at Rs 64,000




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