Gold: Weakness
below 30780 will push Aug. Gold prices lower towards 30700/30669 levels. A
break below 30669 will extend the correction towards major support around 30500
levels. A reversal in trend is likely to take place only on a breakout above
31200. Until then, intraday rallies will face resistance between 31050/31200
zones.
|
|
R2
|
R1
|
S1
|
S2
|
TREND
|
|
|
GOLD
|
31300
|
31250
|
31150
|
31050
|
SIDEWAYS
|
Silver: Weakness from current levels will push Silver prices lower
towards support between 45850—45600 zones. The correction will extend further
only on a decisive breakdown below 45600. Immediate resistance for the counter
is seen around 46650 levels. A range breakout will take place once prices show
momentum above 47000 levels.
|
|
R2
|
R1
|
S1
|
S2
|
TREND
|
|
|
SILVER
|
48150
|
48090
|
47690
|
47550
|
SIDEWAYS
|
Motherson Sumi - RBI raises foreign Investment limit in Motherson Sumi from 24 percent to 30 percent - sentimentally positive for the stock.
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