Monday, March 5, 2012

MCX Gold Silver Tips For Today: 5th Mar '12

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MCX Gold (APR)
MCX Gold is Following the sharp sell off witnessed in the last week, prices have been consolidating in the range of 28150-27750 levels. Even any of the side violation is required to suggest fresh directional moves. For intraday, we expect a burst downside and take prices towards 27700 or further more. 
Here are some intraday levels for mcx gold-                                                      

Technical Levels
R3
28620
R2
27370
R1
28150
Pivot
28000
S1
27800
S2
27540
S3
27150


MCX Silver (MAY)
While below the recent swing support of 59500 prices have more room for further selling pressure possibly till 58800/58000 or even more. However unexpected pullbacks above 59900 could negate our intraday bearish expectations. 


Technical Levels
R3
63400
R2
61600
R1
59900
Pivot
59200
S1
58500
S2
57000
S3
54300


Medium Term Trading Strategy

Buy MCX Gold April contract at Rs 27,900 - 27,850 with stop loss Rs 27,800 and target Rs 28,000 and Rs 28,125.

Buy MCX Silver May contract at Rs 59,750 - 59,500 with stop loss Rs 59,000 and target Rs 60,750 and Rs 61,200.


 

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