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Outlook, buying and selling methods for gold & silver

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By Ravindra Rao

Kotak Securities


Gold
MCX gold worth witnessed a triangle breakout indicating a bullish development. Upside momentum may proceed for the targets of Rs 52,500 adopted by Rs 52,800 ranges ,whereas help holds round Rs 51,450 (swing excessive turned as demand zone). Relative power index (RSI) is above 60, suggesting the bulls are in management.

Strategy

  • BUY MCX Gold Dec at Rs 51,700
  • Target at Rs 52,500; Stop loss at Rs 51,400

Silver

MCX silver worth made a protracted bullish candlestick formation suggesting patrons power. ATR enlargement signifies the upside resistance may prolong until Rs 66,000 degree, whereas the rapid help is positioned at Rs 63,500 adopted by Rs 62,800. Relative power index (RSI) is at 56, supporting the bulls over the bears.

Strategy

  • BUY MCX Silver Dec at Rs 63,500
  • Target at Rs 66,000; Stop loss at Rs 62,800




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