Friday 20 July 2012

TODAY’S MCX TREND AND GOLD, SILVER TIPS


An International market bullion product gold and silver are in low trend. Gold is doing low business with 1582 $ In COMEX Market, and silver is in 27$per ounce. If we focused on MCX market in India gold was closed on Rs 29,152 with some marginally decreasing level, on the other hand silver was closed with Rs 52,694 yesterday. The Indian Rupee appreciated around 0.3 percent yesterday on the back of upbeat global market sentiments which led to decline in the DX. Indian equities also rose by 0.5 percent which also acted as a positive factor for the currency. However, sharp upside in the currency was not witnessed on account of dollar demand from oil companies and defense companies. The currency touched an intra-day high of 55.10 and closed at 55.16 on Thursday.


GOLD UPDATE WITH SURE TIPS
Currently Gold is in strong downtrend with good momentum but volume is unsatisfactory the open interest is not increasing with trend The Gold is now trading in oversold level.
But Traders can SELL - MCX Gold in the range of 29240 – 29280 with TARGETS 29160, 29120, 29085 and STOP LOSS 293

SILVER UPDATE WITH SURE TIPS
Overall trend of the Silver is bearish for medium-long term .Currently Silver is moving sideways The oscillator is showing SELL signal .In last 1 month volatility is very less Buy the Silver above 54593 or buy with strict stop at 51991. The oscillator is showing SELL signal for short term Silver.
SELL SILVER 52625/52675
TARGET 52400/52200/52000  
STOPLOSS 53000

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