Gold.......
MCX Gold August contract closed at Rs 27574 per 10 grams, gaining only 0.05 percent in the day. The prices were on the way to test Rs 27800 as the target before profit booking kicked in. The consolidation in Gold got broken this week as the prices managed to surpass Rs 26700 per 10 grams as the key Resistance. The rally has been supported by steady open interest. The bulls will still be active once the profit taking gets over. The immediate targets for the day however will be revised to Rs 27650.
MCX Gold August contract closed at Rs 27574 per 10 grams, gaining only 0.05 percent in the day. The prices were on the way to test Rs 27800 as the target before profit booking kicked in. The consolidation in Gold got broken this week as the prices managed to surpass Rs 26700 per 10 grams as the key Resistance. The rally has been supported by steady open interest. The bulls will still be active once the profit taking gets over. The immediate targets for the day however will be revised to Rs 27650.
Trading Strategy: BUY MCX GOLD AT 27350 TARGET 27650 SL 27280
Source by Commodity Insights
The range for the day is seen between 59.40-59.70/USD Stock Cash Tips
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